State of New Jersey Common Pension Fund D Raises Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

State of New Jersey Common Pension Fund D boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.6% in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,772 shares of the company’s stock after acquiring an additional 4,588 shares during the quarter. State of New Jersey Common Pension Fund D’s holdings in BridgeBio Pharma were worth $3,503,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the business. Wellington Management Group LLP purchased a new stake in BridgeBio Pharma in the 3rd quarter worth approximately $37,434,000. Northern Trust Corp lifted its holdings in BridgeBio Pharma by 2.2% in the 3rd quarter. Northern Trust Corp now owns 1,153,915 shares of the company’s stock worth $30,429,000 after buying an additional 24,643 shares during the period. Charles Schwab Investment Management Inc. lifted its holdings in BridgeBio Pharma by 9.7% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,056,275 shares of the company’s stock worth $27,854,000 after buying an additional 93,324 shares during the period. Primecap Management Co. CA lifted its holdings in BridgeBio Pharma by 34.9% in the 3rd quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock worth $24,754,000 after buying an additional 242,608 shares during the period. Finally, Lord Abbett & CO. LLC purchased a new stake in BridgeBio Pharma in the 3rd quarter worth approximately $20,949,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other news, Director Randal W. Scott sold 2,500 shares of the business’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director now owns 6,500 shares in the company, valued at $221,000. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 28.52% of the company’s stock.

BridgeBio Pharma Trading Up 2.3 %

Shares of NASDAQ:BBIO opened at $24.88 on Friday. The stock has a fifty day simple moving average of $29.42 and a two-hundred day simple moving average of $31.72. BridgeBio Pharma, Inc. has a 12-month low of $12.75 and a 12-month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $4.78 million. The company’s revenue was down 8.4% compared to the same quarter last year. During the same period last year, the firm earned ($0.92) EPS. Research analysts predict that BridgeBio Pharma, Inc. will post -3.09 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently issued reports on BBIO. Cantor Fitzgerald increased their target price on BridgeBio Pharma from $60.00 to $70.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 19th. Raymond James began coverage on BridgeBio Pharma in a research report on Thursday, March 21st. They issued an “outperform” rating and a $45.00 target price for the company. Citigroup increased their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the stock a “buy” rating in a research report on Friday, February 23rd. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research report on Wednesday, March 20th. Finally, HC Wainwright reissued a “buy” rating and issued a $47.00 target price on shares of BridgeBio Pharma in a research report on Monday, March 4th. Two research analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $47.82.

BridgeBio Pharma 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.