Profund Advisors LLC raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 86.1% in the second quarter, Holdings Channel reports. The fund owned 94,465 shares of the company’s stock after acquiring an additional 43,692 shares during the period. Profund Advisors LLC’s holdings in BridgeBio Pharma were worth $1,625,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in BBIO. Clear Street Markets LLC acquired a new position in BridgeBio Pharma in the first quarter valued at about $33,000. Quantbot Technologies LP grew its stake in BridgeBio Pharma by 500.0% in the first quarter. Quantbot Technologies LP now owns 4,200 shares of the company’s stock valued at $42,000 after acquiring an additional 3,500 shares during the period. Sandia Investment Management LP acquired a new position in shares of BridgeBio Pharma during the first quarter worth about $83,000. Quantamental Technologies LLC acquired a new position in shares of BridgeBio Pharma during the first quarter worth about $104,000. Finally, Mercer Global Advisors Inc. ADV acquired a new position in shares of BridgeBio Pharma during the third quarter worth about $105,000. 90.85% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several research analysts have recently weighed in on BBIO shares. JPMorgan Chase & Co. reduced their price objective on BridgeBio Pharma from $42.00 to $38.00 and set an “overweight” rating for the company in a research report on Thursday, August 17th. Cantor Fitzgerald started coverage on BridgeBio Pharma in a research note on Tuesday, October 24th. They issued an “overweight” rating and a $50.00 price target for the company. Mizuho restated a “buy” rating and issued a $60.00 price target on shares of BridgeBio Pharma in a research note on Monday, August 28th. Finally, Citigroup started coverage on BridgeBio Pharma in a research note on Tuesday, November 7th. They issued a “buy” rating and a $42.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $38.75.
BridgeBio Pharma Trading Down 0.0 %
NASDAQ:BBIO opened at $29.24 on Tuesday. The stock has a market cap of $5.09 billion, a P/E ratio of -7.50 and a beta of 1.00. The stock has a 50 day simple moving average of $26.84 and a 200 day simple moving average of $23.97. BridgeBio Pharma, Inc. has a 1-year low of $6.64 and a 1-year high of $36.36.
BridgeBio Pharma Profile
BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.
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