Hhlr Advisors LTD. Reduces Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Hhlr Advisors LTD. lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 26.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 1,023,950 shares of the company’s stock after selling 366,703 shares during the period. BridgeBio Pharma makes up approximately 0.6% of Hhlr Advisors LTD.’s portfolio, making the stock its 18th largest position. Hhlr Advisors LTD. owned about 0.54% of BridgeBio Pharma worth $26,070,000 at the end of the most recent quarter.

Other institutional investors have also recently made changes to their positions in the company. Rockefeller Capital Management L.P. lifted its stake in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Rockefeller Capital Management L.P. now owns 41,259 shares of the company’s stock valued at $1,050,000 after purchasing an additional 4,317 shares during the last quarter. Dynamic Technology Lab Private Ltd acquired a new position in shares of BridgeBio Pharma in the 3rd quarter valued at $383,000. Algert Global LLC lifted its stake in shares of BridgeBio Pharma by 144.3% in the 3rd quarter. Algert Global LLC now owns 136,447 shares of the company’s stock valued at $3,474,000 after purchasing an additional 80,599 shares during the last quarter. Charles Schwab Investment Management Inc. lifted its stake in shares of BridgeBio Pharma by 8.0% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock valued at $32,711,000 after purchasing an additional 95,605 shares during the last quarter. Finally, Massachusetts Financial Services Co. MA lifted its stake in shares of BridgeBio Pharma by 23.3% in the 3rd quarter. Massachusetts Financial Services Co. MA now owns 737,367 shares of the company’s stock valued at $18,773,000 after purchasing an additional 139,104 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling

In related news, CFO Brian C. Stephenson sold 4,156 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the transaction, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. This trade represents a 4.24 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,831,545 shares of company stock worth $150,056,923 in the last quarter. 24.66% of the stock is owned by insiders.

BridgeBio Pharma Stock Performance

BBIO opened at $27.09 on Friday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32. The company has a market cap of $5.12 billion, a P/E ratio of -11.24 and a beta of 1.09. The business’s 50-day simple moving average is $25.02 and its 200-day simple moving average is $26.21.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BBIO shares. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Oppenheimer started coverage on BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating on the stock. JPMorgan Chase & Co. decreased their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Evercore ISI decreased their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

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.