State of New Jersey Common Pension Fund D Buys 4,588 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

State of New Jersey Common Pension Fund D increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.6% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 86,772 shares of the company’s stock after purchasing an additional 4,588 shares during the period. 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 SEC.

Other hedge funds also recently modified their holdings of the company. Campbell & CO Investment Adviser LLC bought a new position in shares of BridgeBio Pharma in the third quarter worth $403,000. Moody Aldrich Partners LLC increased its position in shares of BridgeBio Pharma by 72.2% in the third quarter. Moody Aldrich Partners LLC now owns 137,512 shares of the company’s stock worth $3,626,000 after purchasing an additional 57,639 shares during the period. The Manufacturers Life Insurance Company boosted its stake in BridgeBio Pharma by 170.8% in the third quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock valued at $17,552,000 after buying an additional 419,813 shares in the last quarter. Primecap Management Co. CA boosted its stake in BridgeBio Pharma by 34.9% in the third quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock valued at $24,754,000 after buying an additional 242,608 shares in the last quarter. Finally, Boone Capital Management LLC acquired a new stake in BridgeBio Pharma in the third quarter valued at about $8,264,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

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

BridgeBio Pharma Stock Up 2.3 %

BridgeBio Pharma stock opened at $24.88 on Friday. The stock’s 50 day moving average is $29.42 and its 200 day moving average is $31.72. BridgeBio Pharma, Inc. has a one year low of $12.75 and a one year high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 22nd. The company reported ($0.96) EPS for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The company had revenue of $1.74 million during the quarter, compared to the consensus estimate of $4.78 million. BridgeBio Pharma’s revenue for the quarter was down 8.4% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.92) earnings per share. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.09 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction that occurred 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 transaction, the director now directly owns 6,500 shares of the company’s stock, valued at $221,000. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. 28.52% of the stock is owned by insiders.

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.