Frazier Life Sciences Management L.P. Has $95.74 Million Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Frazier Life Sciences Management L.P. increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.5% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 3,760,457 shares of the company’s stock after purchasing an additional 127,853 shares during the quarter. BridgeBio Pharma makes up approximately 3.8% of Frazier Life Sciences Management L.P.’s portfolio, making the stock its 9th biggest holding. Frazier Life Sciences Management L.P. owned 1.99% of BridgeBio Pharma worth $95,741,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Profund Advisors LLC increased its position in BridgeBio Pharma by 1.1% in the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after buying an additional 555 shares during the last quarter. Bfsg LLC increased its holdings in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after acquiring an additional 790 shares during the last quarter. Allspring Global Investments Holdings LLC raised its stake in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after acquiring an additional 801 shares during the period. Amalgamated Bank raised its stake in BridgeBio Pharma by 24.7% in the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock valued at $123,000 after acquiring an additional 962 shares during the period. Finally, Diversified Trust Co lifted its holdings in BridgeBio Pharma by 3.0% during the third quarter. Diversified Trust Co now owns 36,772 shares of the company’s stock valued at $936,000 after purchasing an additional 1,059 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on the stock. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. Oppenheimer started coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating for the company. Leerink Partners dropped their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. Bank of America raised their price target on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a report on Monday, November 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research note on Monday, September 16th. Two investment analysts have rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $47.69.

Insiders Place Their Bets

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. The trade was a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 5,831,545 shares of company stock valued at $150,056,923 in the last quarter. Corporate insiders own 24.66% of the company’s stock.

BridgeBio Pharma Trading Up 2.5 %

Shares of BBIO opened at $29.50 on Tuesday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32. The company has a market cap of $5.58 billion, a PE ratio of -12.24 and a beta of 1.08. The stock has a 50-day moving average price of $25.25 and a 200-day moving average price of $26.07.

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.