Cibc World Market Inc. Takes Position in BridgeBio Pharma, Inc. $BBIO

Cibc World Market Inc. acquired a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 19,708 shares of the company’s stock, valued at approximately $1,024,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the 2nd quarter worth $25,000. First Horizon Corp acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $36,000. AlphaQuest LLC increased its stake in shares of BridgeBio Pharma by 254.3% in the third quarter. AlphaQuest LLC now owns 815 shares of the company’s stock worth $42,000 after purchasing an additional 585 shares during the period. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma during the 1st quarter worth about $35,000. Finally, GAMMA Investing LLC boosted its stake in BridgeBio Pharma by 28.6% during the 3rd quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock valued at $53,000 after purchasing an additional 227 shares during the period. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $74.26, for a total value of $148,520.00. Following the completion of the transaction, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at approximately $9,675,855.22. This represents a 1.51% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $71.94, for a total value of $2,877,600.00. Following the completion of the sale, the chief executive officer owned 695,686 shares in the company, valued at $50,047,650.84. This trade represents a 5.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 178,167 shares of company stock worth $12,923,052 over the last ninety days. Company insiders own 18.20% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have commented on BBIO. Sanford C. Bernstein initiated coverage on BridgeBio Pharma in a research report on Thursday, December 11th. They issued an “outperform” rating and a $94.00 price target on the stock. Leerink Partners boosted their target price on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Wells Fargo & Company increased their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Truist Financial raised their price target on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Finally, Raymond James Financial set a $89.00 price objective on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research report on Thursday, February 12th. Twenty-two analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $82.05.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $75.85 on Wednesday. The company has a 50-day moving average of $75.70 and a 200-day moving average of $63.72. BridgeBio Pharma, Inc. has a 52 week low of $28.33 and a 52 week high of $84.94. The company has a market capitalization of $14.62 billion, a price-to-earnings ratio of -18.15 and a beta of 1.13.

BridgeBio Pharma Company Profile

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.