Viking Global Investors LP Acquires Shares of 26,620,991 BridgeBio Pharma (NASDAQ:BBIO)

Viking Global Investors LP acquired a new stake in BridgeBio Pharma (NASDAQ:BBIO) during the second quarter, Holdings Channel.com reports. The fund acquired 26,620,991 shares of the company’s stock, valued at approximately $717,968,000. BridgeBio Pharma makes up approximately 3.2% of Viking Global Investors LP’s holdings, making the stock its 12th biggest position. Viking Global Investors LP owned approximately 0.22% of BridgeBio Pharma as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the business. Kohlberg Kravis Roberts & Co. L.P. bought a new position in shares of BridgeBio Pharma during the second quarter valued at about $995,211,000. Aisling Capital Management LP bought a new position in shares of BridgeBio Pharma during the second quarter valued at about $103,449,000. JPMorgan Chase & Co. bought a new position in shares of BridgeBio Pharma during the second quarter valued at about $25,274,000. Janus Henderson Group PLC bought a new position in shares of BridgeBio Pharma during the second quarter valued at about $9,331,000. Finally, Artal Group S.A. bought a new position in shares of BridgeBio Pharma during the second quarter valued at about $5,394,000. 85.33% of the stock is currently owned by hedge funds and other institutional investors.

A number of research analysts recently weighed in on the stock. Piper Jaffray Companies assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set an “overweight” rating and a $50.00 price target on the stock. BMO Capital Markets assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $49.00 price target on the stock. Jefferies Financial Group assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set a “buy” rating and a $38.00 price target on the stock. Svb Leerink assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set an “outperform” rating and a $34.00 price target on the stock. Finally, JPMorgan Chase & Co. assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 22nd. They set an “overweight” rating and a $38.00 price target on the stock. Eight equities research analysts have rated the stock with a buy rating, The company has a consensus rating of “Buy” and a consensus price target of $40.13.

BBIO stock traded down $0.27 during mid-day trading on Wednesday, hitting $24.59. The company had a trading volume of 7,023 shares, compared to its average volume of 168,729. BridgeBio Pharma has a 12 month low of $24.06 and a 12 month high of $32.94. The firm’s fifty day moving average is $28.53.

In related news, major shareholder Genetic Disorder L.P. Kkr acquired 2,647,100 shares of the stock in a transaction on Monday, July 1st. The shares were acquired at an average price of $17.00 per share, with a total value of $45,000,700.00. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Brian C. Stephenson acquired 55,500 shares of the stock in a transaction on Monday, July 1st. The stock was bought at an average cost of $17.00 per share, for a total transaction of $943,500.00. The disclosure for this purchase can be found here. In the last ninety days, insiders acquired 7,409,500 shares of company stock worth $125,947,930.

About BridgeBio Pharma

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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