From MarketBeat:

Lord Abbett & CO. LLC acquired 794,401 shares of BridgeBio Pharma in the third quarter, valued at approximately $20.9 million, owning 0.46% of the company’s stock. Other large investors have also made changes to their positions in BBIO, with 90.85% of the stock owned by institutional investors and hedge funds.

In addition, several research firms have rated BBIO stocks with a consensus “Moderate Buy” and an average price target of $40.23, with a few insiders selling large amounts of shares valued at millions in the last three months.

Shares of BridgeBio Pharma traded at $36.64, with a market cap of $6.37 billion. The company had reported ($1.08) earnings per share for the quarter and incurred revenue of $4.09 million, with a prediction of -3.97 earnings per share for the current fiscal year.

BridgeBio Pharma is involved in the discovery, development, and delivery of various medicines for genetic diseases, with a pipeline of 30 development programs including AG10 and BBP-265. Analysts believe BBIO stocks are showing promise compared to others.



Read more: Lord Abbett & CO. LLC Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)