Connor Clark & Lunn Investment Management Ltd. Sells 351,105 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Connor Clark & Lunn Investment Management Ltd. lessened its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIOGet Rating) by 95.4% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 16,849 shares of the company’s stock after selling 351,105 shares during the period. Connor Clark & Lunn Investment Management Ltd.’s holdings in BridgeBio Pharma were worth $153,000 as of its most recent filing with the Securities and Exchange Commission.

Other large investors have also recently added to or reduced their stakes in the company. Vanguard Group Inc. boosted its stake in BridgeBio Pharma by 1.0% in the first quarter. Vanguard Group Inc. now owns 9,424,112 shares of the company’s stock valued at $95,655,000 after buying an additional 92,429 shares in the last quarter. Primecap Management Co. CA raised its position in shares of BridgeBio Pharma by 7.8% during the first quarter. Primecap Management Co. CA now owns 1,132,350 shares of the company’s stock worth $11,493,000 after acquiring an additional 81,610 shares during the last quarter. Charles Schwab Investment Management Inc. increased its holdings in BridgeBio Pharma by 3.2% in the first quarter. Charles Schwab Investment Management Inc. now owns 1,079,082 shares of the company’s stock worth $10,953,000 after purchasing an additional 33,792 shares in the last quarter. Graham Capital Management L.P. bought a new stake in shares of BridgeBio Pharma during the first quarter valued at approximately $5,523,000. Finally, Bank of New York Mellon Corp increased its holdings in shares of BridgeBio Pharma by 3.2% during the first quarter. Bank of New York Mellon Corp now owns 502,713 shares of the company’s stock valued at $5,102,000 after acquiring an additional 15,368 shares in the last quarter. Institutional investors own 94.25% of the company’s stock.

Analyst Ratings Changes

BBIO has been the topic of several research analyst reports. Mizuho cut their price objective on BridgeBio Pharma from $25.00 to $23.00 and set a “buy” rating on the stock in a research report on Wednesday, August 24th. SVB Leerink increased their target price on BridgeBio Pharma from $27.00 to $30.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 26th. Five equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company currently has an average rating of “Buy” and a consensus price target of $22.80.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $11.36 on Monday. The firm’s fifty day moving average is $10.53 and its two-hundred day moving average is $9.41. BridgeBio Pharma, Inc. has a one year low of $4.98 and a one year high of $18.13. The firm has a market cap of $1.70 billion, a price-to-earnings ratio of -3.38 and a beta of 0.59.

BridgeBio Pharma Profile

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BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.

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

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