State of New Jersey Common Pension Fund D Buys 3,760 Shares of BridgeBio Pharma, Inc. $BBIO

State of New Jersey Common Pension Fund D increased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.0% in the 2nd quarter, Holdings Channel reports. The fund owned 57,126 shares of the company’s stock after buying an additional 3,760 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in BridgeBio Pharma were worth $2,467,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. Invesco Ltd. increased its stake in shares of BridgeBio Pharma by 147.0% in the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock worth $76,267,000 after acquiring an additional 1,313,036 shares in the last quarter. Cormorant Asset Management LP increased its stake in BridgeBio Pharma by 25.0% during the 1st quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company’s stock valued at $69,140,000 after purchasing an additional 400,000 shares in the last quarter. Driehaus Capital Management LLC purchased a new stake in shares of BridgeBio Pharma during the 1st quarter valued at about $51,874,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of BridgeBio Pharma by 17.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 1,164,967 shares of the company’s stock valued at $40,274,000 after acquiring an additional 173,729 shares during the last quarter. Finally, Principal Financial Group Inc. boosted its holdings in shares of BridgeBio Pharma by 9.3% during the 1st quarter. Principal Financial Group Inc. now owns 1,148,292 shares of the company’s stock valued at $39,696,000 after acquiring an additional 98,153 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the sale, the chief executive officer owned 855,686 shares in the company, valued at approximately $46,874,479.08. This trade represents a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Charles J. Homcy sold 50,000 shares of the firm’s stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the sale, the director owned 916,674 shares in the company, valued at approximately $44,000,352. The trade was a 5.17% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 597,913 shares of company stock worth $29,034,227 in the last 90 days. Insiders own 18.20% of the company’s stock.

BridgeBio Pharma Trading Up 1.5%

NASDAQ BBIO opened at $64.50 on Wednesday. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $65.00. The stock has a market cap of $12.33 billion, a price-to-earnings ratio of -15.77 and a beta of 1.36. The company’s 50 day moving average is $53.02 and its two-hundred day moving average is $44.99.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The business had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. During the same quarter last year, the firm posted ($0.39) EPS. The company’s revenue for the quarter was up 4999.9% compared to the same quarter last year. Sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Truist Financial assumed coverage on shares of BridgeBio Pharma in a report on Monday, July 21st. They set a “buy” rating and a $66.00 price target on the stock. Leerink Partners set a $68.00 price target on shares of BridgeBio Pharma and gave the company an “outperform” rating in a report on Monday. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a report on Monday, July 14th. They issued a “buy” rating and a $70.00 price objective on the stock. Wall Street Zen raised shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Raymond James Financial raised their price objective on shares of BridgeBio Pharma from $56.00 to $59.00 and gave the stock an “outperform” rating in a report on Tuesday, October 21st. Seventeen analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $66.00.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.