Hillhouse Capital Advisors LTD. bought a new position in BridgeBio Pharma (NASDAQ:BBIO) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 2,352,900 shares of the company’s stock, valued at approximately $63,458,000. BridgeBio Pharma makes up about 1.4% of Hillhouse Capital Advisors LTD.’s holdings, making the stock its 21st largest position.

Several other hedge funds and other institutional investors have also recently modified their holdings of the company. Alpine Group USVI LLC purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $539,000. SG Americas Securities LLC purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $476,000. Janus Henderson Group PLC purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $9,331,000. TimesSquare Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $4,046,000. Finally, JPMorgan Chase & Co. purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $25,274,000. Hedge funds and other institutional investors own 85.33% of the company’s stock.

BBIO stock traded up $1.74 during midday trading on Friday, reaching $26.27. 734,523 shares of the company’s stock traded hands, compared to its average volume of 168,290. BridgeBio Pharma has a 52-week low of $24.06 and a 52-week high of $32.94. The stock’s 50-day moving average is $28.35.

Several research analysts have recently weighed in on BBIO shares. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a report on Monday, July 22nd. They set a “buy” rating and a $38.00 price objective for the company. Raymond James started coverage on shares of BridgeBio Pharma in a report on Friday, July 26th. They set an “outperform” rating and a $36.00 price objective for the company. BMO Capital Markets started coverage on shares of BridgeBio Pharma in a report on Monday, July 22nd. They set an “outperform” rating and a $49.00 price objective for the company. Leerink Swann started coverage on shares of BridgeBio Pharma in a report on Monday, July 22nd. They set an “outperform” rating and a $34.00 price objective for the company. Finally, JPMorgan Chase & Co. started coverage on shares of BridgeBio Pharma in a report on Monday, July 22nd. They set an “overweight” rating and a $38.00 target price for the company. Eight equities research analysts have rated the stock with a buy rating, The company presently has a consensus rating of “Buy” and an average target price of $40.13.

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking bought 4,705,900 shares of BridgeBio Pharma stock in a transaction on Thursday, June 27th. The stock was acquired at an average cost of $17.00 per share, with a total value of $80,000,300.00. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr bought 2,647,100 shares of BridgeBio Pharma stock in a transaction on Monday, July 1st. The shares were acquired at an average cost of $17.00 per share, with a total value of $45,000,700.00. The disclosure for this purchase can be found here. Over the last ninety days, insiders have acquired 7,409,500 shares of company stock valued at $125,947,930.

BridgeBio Pharma Company 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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