Candriam S.C.A. Invests $7.74 Million in BridgeBio Pharma, Inc. $BBIO

Candriam S.C.A. purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 148,986 shares of the company’s stock, valued at approximately $7,738,000. Candriam S.C.A. owned about 0.08% of BridgeBio Pharma as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently modified their holdings of the company. Fullcircle Wealth LLC bought a new stake in BridgeBio Pharma during the 3rd quarter worth $212,000. Bessemer Group Inc. boosted its stake in shares of BridgeBio Pharma by 524.3% during the third quarter. Bessemer Group Inc. now owns 2,110 shares of the company’s stock valued at $110,000 after purchasing an additional 1,772 shares in the last quarter. Envestnet Asset Management Inc. grew its holdings in shares of BridgeBio Pharma by 16.4% during the third quarter. Envestnet Asset Management Inc. now owns 45,965 shares of the company’s stock worth $2,387,000 after purchasing an additional 6,478 shares during the last quarter. Allianz Asset Management GmbH increased its stake in shares of BridgeBio Pharma by 91.1% in the third quarter. Allianz Asset Management GmbH now owns 23,500 shares of the company’s stock valued at $1,221,000 after buying an additional 11,200 shares during the period. Finally, Principal Financial Group Inc. increased its stake in shares of BridgeBio Pharma by 23.0% in the third quarter. Principal Financial Group Inc. now owns 1,267,412 shares of the company’s stock valued at $65,829,000 after buying an additional 236,885 shares during the period. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrew Lo sold 55,000 shares of the business’s stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total value of $3,612,950.00. Following the transaction, the director directly owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. The trade was a 52.09% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of the stock in a transaction that occurred on Thursday, January 8th. The stock was sold at an average price of $73.97, for a total value of $2,958,800.00. Following the transaction, the chief executive officer owned 735,686 shares in the company, valued at $54,418,693.42. The trade was a 5.16% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 260,700 shares of company stock valued at $18,157,071 over the last ninety days. Insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities research analysts have weighed in on BBIO shares. Cantor Fitzgerald boosted their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Raymond James Financial reissued an “outperform” rating and issued a $71.00 price objective (up previously from $69.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Sanford C. Bernstein began coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They set an “outperform” rating and a $94.00 target price for the company. Leerink Partners lifted their target price on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Finally, Truist Financial increased their price target on BridgeBio Pharma from $80.00 to $86.00 and gave the company a “buy” rating in a research note on Thursday, January 8th. Twenty-two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and a consensus target price of $79.05.

BridgeBio Pharma Trading Up 0.2%

Shares of BBIO opened at $72.47 on Wednesday. The firm’s fifty day simple moving average is $75.56 and its two-hundred day simple moving average is $62.71. BridgeBio Pharma, Inc. has a 12 month low of $28.33 and a 12 month high of $81.32. The stock has a market capitalization of $13.97 billion, a P/E ratio of -17.34 and a beta of 1.13.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.