State of New Jersey Common Pension Fund D Has $2.47 Million Holdings in BridgeBio Pharma, Inc. $BBIO

State of New Jersey Common Pension Fund D grew its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.0% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 57,126 shares of the company’s stock after purchasing an additional 3,760 shares during the period. State of New Jersey Common Pension Fund D’s holdings in BridgeBio Pharma were worth $2,467,000 at the end of the most recent quarter.

Several other large investors have also made changes to their positions in BBIO. GAMMA Investing LLC boosted its position in shares of BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after acquiring an additional 382 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the 1st quarter worth approximately $35,000. GF Fund Management CO. LTD. boosted its position in shares of BridgeBio Pharma by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company’s stock worth $167,000 after acquiring an additional 871 shares in the last quarter. CWM LLC boosted its position in shares of BridgeBio Pharma by 12.8% during the 1st quarter. CWM LLC now owns 5,261 shares of the company’s stock worth $182,000 after acquiring an additional 598 shares in the last quarter. Finally, LVW Advisors LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter worth approximately $202,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 1.5%

NASDAQ BBIO opened at $64.50 on Wednesday. The company’s 50 day moving average is $53.02 and its 200-day moving average is $44.99. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $65.00. The firm has a market cap of $12.33 billion, a P/E ratio of -15.77 and a beta of 1.36.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. During the same quarter in the prior year, the business posted ($0.39) earnings per share. The firm’s revenue for the quarter was up 4999.9% on a year-over-year basis. Equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Buying and Selling at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 1,000 shares of the company’s stock in a transaction that occurred on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total transaction of $45,440.00. Following the sale, the chief accounting officer owned 141,859 shares of the company’s stock, valued at approximately $6,446,072.96. This represents a 0.70% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Thomas Trimarchi sold 42,237 shares of the business’s stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total transaction of $2,089,886.76. Following the completion of the transaction, the chief financial officer directly owned 421,081 shares of the company’s stock, valued at approximately $20,835,087.88. This represents a 9.12% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 597,913 shares of company stock worth $29,034,227 in the last ninety days. Insiders own 18.20% of the company’s stock.

Analyst Upgrades and Downgrades

Several analysts recently issued reports on the stock. HC Wainwright increased their price target on shares of BridgeBio Pharma from $70.00 to $80.00 and gave the stock a “buy” rating in a research report on Monday. Raymond James Financial increased their price target on shares of BridgeBio Pharma from $56.00 to $59.00 and gave the stock an “outperform” rating in a research report on Tuesday, October 21st. UBS Group raised their target price on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research report on Friday, September 12th. Piper Sandler raised their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an “overweight” rating in a research report on Monday, July 14th. Finally, Wall Street Zen upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. Seventeen research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $66.00.

BridgeBio Pharma Company 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.