Melqart Asset Management UK Ltd Has $10.27 Million Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Melqart Asset Management UK Ltd increased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 31.0% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 403,485 shares of the company’s stock after acquiring an additional 95,574 shares during the quarter. Melqart Asset Management UK Ltd owned approximately 0.21% of BridgeBio Pharma worth $10,273,000 at the end of the most recent quarter.

A number of other institutional investors have also added to or reduced their stakes in the company. Bfsg LLC raised its holdings in shares of 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 purchasing an additional 790 shares during the period. Headlands Technologies LLC bought a new stake in shares of BridgeBio Pharma in the 2nd quarter worth approximately $48,000. Values First Advisors Inc. bought a new position in BridgeBio Pharma during the 3rd quarter worth approximately $57,000. CWM LLC raised its holdings in BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares during the last quarter. Finally, Advisors Asset Management Inc. boosted its holdings in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $26.58 on Wednesday. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32. The firm has a market capitalization of $5.02 billion, a P/E ratio of -11.03 and a beta of 1.08. The company’s fifty day moving average price is $25.08 and its 200 day moving average price is $26.11.

Insider Activity

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the business’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. Company insiders own 24.66% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on BBIO shares. Oppenheimer assumed coverage on BridgeBio Pharma in a research report on Thursday, October 3rd. They set a “market perform” rating on the stock. Evercore ISI lowered their target price on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Scotiabank boosted their price target on BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Leerink Partners cut their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, JPMorgan Chase & Co. dropped their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $48.43.

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.