BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Position Lessened by Sphera Funds Management LTD.

Sphera Funds Management LTD. lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 24.4% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 842,644 shares of the company’s stock after selling 272,026 shares during the quarter. BridgeBio Pharma comprises about 3.4% of Sphera Funds Management LTD.’s investment portfolio, making the stock its 3rd biggest holding. Sphera Funds Management LTD. owned 0.45% of BridgeBio Pharma worth $21,454,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also recently made changes to their positions in the company. Janus Henderson Group PLC raised its stake in BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the period. Frazier Life Sciences Management L.P. raised its stake in BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after acquiring an additional 217,000 shares during the period. Ensign Peak Advisors Inc grew its holdings in BridgeBio Pharma by 44.5% during the 2nd quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after buying an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in BridgeBio Pharma by 40.5% during the 2nd quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after buying an additional 442,248 shares in the last quarter. Finally, Charles Schwab Investment Management Inc. grew its holdings in BridgeBio Pharma by 8.0% during 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 buying an additional 95,605 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 5,831,545 shares of company stock valued at $150,056,923. 24.66% of the stock is currently owned by insiders.

BridgeBio Pharma Price Performance

BBIO stock opened at $27.10 on Thursday. The firm has a 50-day simple moving average of $25.13 and a two-hundred day simple moving average of $26.12. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on the stock. Bank of America increased their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Evercore ISI cut their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. Scotiabank increased their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Finally, Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a report on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $48.43.

About BridgeBio Pharma

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.