TimesSquare Capital Management LLC Makes New Investment in BridgeBio Pharma (NASDAQ:BBIO)

TimesSquare Capital Management LLC bought a new position in BridgeBio Pharma (NASDAQ:BBIO) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor bought 150,000 shares of the company’s stock, valued at approximately $4,046,000. TimesSquare Capital Management LLC owned about 0.12% of BridgeBio Pharma as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Alpine Group USVI LLC purchased a new position in BridgeBio Pharma in the second quarter worth $539,000. SG Americas Securities LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth about $476,000. Finally, Janus Henderson Group PLC bought a new position in BridgeBio Pharma in the 2nd quarter worth about $9,331,000. Institutional investors and hedge funds own 0.44% of the company’s stock.

In related news, major shareholder Genetic Disorder L.P. Kkr acquired 2,647,100 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, July 1st. The stock was bought at an average price of $17.00 per share, with a total value of $45,000,700.00. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Brian C. Stephenson acquired 55,500 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, July 1st. The shares were bought at an average cost of $17.00 per share, with a total value of $943,500.00. The disclosure for this purchase can be found here. Insiders bought a total of 7,408,500 shares of company stock valued at $125,944,500 in the last three months.

Shares of NASDAQ:BBIO traded up $0.70 during trading on Friday, hitting $27.46. The stock had a trading volume of 218,100 shares, compared to its average volume of 165,699. BridgeBio Pharma has a 12 month low of $24.06 and a 12 month high of $32.81. The company has a fifty day moving average of $27.86.

A number of brokerages have weighed in on BBIO. Leerink Swann began coverage on BridgeBio Pharma in a research note on Monday, July 22nd. They issued an “outperform” rating and a $34.00 target price on the stock. Piper Jaffray Companies began coverage on BridgeBio Pharma in a research note on Monday, July 22nd. They issued an “overweight” rating and a $50.00 target price on the stock. Svb Leerink began coverage on BridgeBio Pharma in a research note on Monday, July 22nd. They issued an “outperform” rating and a $34.00 target price on the stock. BMO Capital Markets began coverage on BridgeBio Pharma in a research note on Monday, July 22nd. They issued an “outperform” rating and a $49.00 target price on the stock. Finally, JPMorgan Chase & Co. began coverage on BridgeBio Pharma in a report on Monday, July 22nd. They issued an “overweight” rating and a $38.00 price objective for the company. Eight investment analysts have rated the stock with a buy rating, The company currently has a consensus rating of “Buy” and a consensus target price of $40.13.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc finds, develops, and delivers various medicines for genetic diseases. The company has a pipeline of 15 development programs that include product candidates ranging from early discovery to late-stage development in various therapeutic areas, including genetic dermatology, oncology, cardiology, neurology, endocrinology, renal disease, and ophthalmology.

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Institutional Ownership by Quarter for BridgeBio Pharma (NASDAQ:BBIO)

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