Quarry LP Purchases 2,500 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Quarry LP grew its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 33.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 10,000 shares of the company’s stock after acquiring an additional 2,500 shares during the period. Quarry LP’s holdings in BridgeBio Pharma were worth $255,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Polar Asset Management Partners Inc. bought a new position in shares of BridgeBio Pharma during the third quarter valued at about $1,286,000. Melqart Asset Management UK Ltd raised its stake in BridgeBio Pharma by 31.0% in the third quarter. Melqart Asset Management UK Ltd now owns 403,485 shares of the company’s stock worth $10,273,000 after buying an additional 95,574 shares in the last quarter. Janus Henderson Group PLC raised its stake in BridgeBio Pharma by 11.7% in the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after buying an additional 505,481 shares in the last quarter. HighVista Strategies LLC raised its stake in BridgeBio Pharma by 54.9% in the third quarter. HighVista Strategies LLC now owns 69,054 shares of the company’s stock worth $1,758,000 after buying an additional 24,482 shares in the last quarter. Finally, Erste Asset Management GmbH bought a new position in BridgeBio Pharma in the third quarter worth about $3,497,000. 99.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, CFO Brian C. Stephenson sold 4,156 shares of the company’s stock in a transaction dated Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $93,135.96. Following the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. This represents a 4.24 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the company’s 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 transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,545 shares of company stock worth $150,056,923 in the last 90 days. 24.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms recently issued reports on BBIO. Oppenheimer assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating for the company. HC Wainwright raised their target price on shares of BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Scotiabank raised their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a research note on Monday, November 25th. Leerink Partners decreased their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Bank of America raised their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $48.43.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $26.66 on Friday. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a fifty day moving average price of $25.17 and a 200-day moving average price of $26.12. The company has a market cap of $5.04 billion, a price-to-earnings ratio of -11.06 and a beta of 1.08.

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.