Y Intercept Hong Kong Ltd Has $724,000 Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Y Intercept Hong Kong Ltd trimmed its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 93.4% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 13,931 shares of the company’s stock after selling 197,101 shares during the quarter. Y Intercept Hong Kong Ltd’s holdings in BridgeBio Pharma were worth $724,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors have also modified their holdings of the company. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the 2nd quarter worth $25,000. Jones Financial Companies Lllp bought a new stake in BridgeBio Pharma during the 1st quarter valued at approximately $35,000. First Horizon Corp acquired a new position in shares of BridgeBio Pharma during the third quarter worth approximately $36,000. GAMMA Investing LLC grew its stake in shares of BridgeBio Pharma by 28.6% in the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after acquiring an additional 227 shares during the last quarter. Finally, Steward Partners Investment Advisory LLC boosted its holdings in BridgeBio Pharma by 22.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after purchasing an additional 228 shares during the period. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $78.24 on Tuesday. The firm has a market capitalization of $15.08 billion, a P/E ratio of -18.72 and a beta of 1.17. The stock has a fifty day moving average price of $75.54 and a two-hundred day moving average price of $61.63. BridgeBio Pharma, Inc. has a 52-week low of $28.33 and a 52-week high of $81.32.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on BBIO shares. The Goldman Sachs Group boosted their price objective on shares of BridgeBio Pharma from $55.00 to $100.00 and gave the stock a “buy” rating in a report on Thursday, October 30th. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Truist Financial upped their price target on BridgeBio Pharma from $80.00 to $86.00 and gave the company a “buy” rating in a report on Thursday, January 8th. Cantor Fitzgerald upped their target price on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Finally, HC Wainwright reiterated a “buy” rating and set a $90.00 price target on shares of BridgeBio Pharma in a research note on Monday, November 3rd. Twenty-two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $79.05.

Insider Activity

In other news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction that occurred on Thursday, November 6th. The shares were sold at an average price of $63.15, for a total value of $2,526,000.00. Following the completion of the transaction, the chief executive officer owned 815,686 shares in the company, valued at approximately $51,510,570.90. The trade was a 4.67% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Ronald J. Daniels sold 61,031 shares of the stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $63.72, for a total value of $3,888,895.32. Following the sale, the director owned 16,991 shares in the company, valued at approximately $1,082,666.52. This trade represents a 78.22% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 387,215 shares of company stock worth $26,255,694 over the last ninety days. Corporate insiders own 18.20% of the company’s stock.

About BridgeBio Pharma

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.