First Turn Management LLC Makes New $10.18 Million Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

First Turn Management LLC acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 399,781 shares of the company’s stock, valued at approximately $10,178,000.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the stock. Quest Partners LLC increased its holdings in BridgeBio Pharma by 134.0% during the 3rd quarter. Quest Partners LLC now owns 31,173 shares of the company’s stock worth $794,000 after purchasing an additional 17,849 shares in the last quarter. Swiss National Bank increased its holdings in BridgeBio Pharma by 1.1% during the 3rd quarter. Swiss National Bank now owns 219,300 shares of the company’s stock worth $5,583,000 after purchasing an additional 2,400 shares in the last quarter. Mizuho Markets Americas LLC increased its holdings in BridgeBio Pharma by 3.8% during the 3rd quarter. Mizuho Markets Americas LLC now owns 87,180 shares of the company’s stock worth $2,220,000 after purchasing an additional 3,198 shares in the last quarter. Royce & Associates LP bought a new stake in BridgeBio Pharma during the 3rd quarter worth approximately $3,105,000. Finally, WCM Investment Management LLC increased its holdings in BridgeBio Pharma by 49.2% during the 3rd quarter. WCM Investment Management LLC now owns 263,679 shares of the company’s stock worth $6,576,000 after purchasing an additional 86,987 shares in the last quarter. 99.85% of the stock is owned by institutional investors.

Analyst Ratings Changes

BBIO has been the subject of a number of recent research reports. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Scotiabank upped their target price on BridgeBio Pharma from $44.00 to $45.00 and gave the company a “sector outperform” rating in a report on Friday. HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a report on Friday, October 25th. JPMorgan Chase & Co. reduced their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Finally, Oppenheimer assumed coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating for the company. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $47.57.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Insiders own 24.66% of the company’s stock.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $22.35 on Tuesday. The company has a market cap of $4.22 billion, a P/E ratio of -9.27 and a beta of 1.09. The stock’s fifty day moving average price is $25.33 and its two-hundred day moving average price is $26.37. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32.

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.