BridgeBio Pharma, Inc. $BBIO Shares Sold by Readystate Asset Management LP

Readystate Asset Management LP reduced its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 51.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 117,379 shares of the company’s stock after selling 123,504 shares during the quarter. Readystate Asset Management LP owned about 0.06% of BridgeBio Pharma worth $6,097,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the business. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in BridgeBio Pharma in the 2nd quarter valued at $25,000. First Horizon Corp purchased a new stake in shares of BridgeBio Pharma in the third quarter valued at about $36,000. AlphaQuest LLC raised its holdings in shares of BridgeBio Pharma by 254.3% in the third quarter. AlphaQuest LLC now owns 815 shares of the company’s stock valued at $42,000 after buying an additional 585 shares during the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the first quarter worth about $35,000. Finally, GAMMA Investing LLC grew its holdings in shares of BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after buying an additional 227 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction on Monday, December 8th. The stock was sold at an average price of $74.26, for a total transaction of $148,520.00. Following the completion of the transaction, the chief accounting officer directly owned 130,297 shares of the company’s stock, valued at approximately $9,675,855.22. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CEO Neil Kumar sold 40,000 shares of the business’s stock in a transaction on Thursday, December 4th. The stock was sold at an average price of $74.40, for a total value of $2,976,000.00. Following the sale, the chief executive officer owned 775,686 shares in the company, valued at approximately $57,711,038.40. The trade was a 4.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 178,167 shares of company stock valued at $12,923,052. 18.20% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Stock Up 0.8%

NASDAQ:BBIO opened at $75.85 on Wednesday. The firm’s fifty day simple moving average is $75.70 and its 200-day simple moving average is $63.72. The stock has a market cap of $14.62 billion, a PE ratio of -18.15 and a beta of 1.13. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94.

Wall Street Analyst Weigh In

Several analysts have commented on BBIO shares. Leerink Partners upped their price objective on BridgeBio Pharma from $75.00 to $86.00 and gave the company an “outperform” rating in a research note on Monday, December 15th. TD Cowen restated a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Raymond James Financial set a $89.00 price target on BridgeBio Pharma and gave the stock an “outperform” rating in a report on Thursday, February 12th. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, November 7th. Finally, Truist Financial upped their price objective on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $82.05.

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.