5 Biotech Stocks To Buy According To Chinese Billionaire Lei Zhang

4. BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Hillhouse Capital Management’s Stake Value: $251,318,000

Percentage of Hillhouse Capital Management’s 13F Portfolio: 3.28%

Number of Hedge Fund Holders: 28

BridgeBio Pharma, Inc. (NASDAQ:BBIO) is a biotech company working on the development of unique drugs primarily for cardiovascular disease, genetic diseases, and cancer. Lei Zhang’s Hillhouse Capital Management owns 5.36 million BridgeBio Pharma, Inc. (NASDAQ:BBIO) shares, worth $251.3 million, representing 3.28% of the firm’s Q3 portfolio. 

Among the hedge funds being tracked by Insider Monkey, 28 funds were bullish on BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the third quarter, with stakes worth $2.1 billion. Andreas Halvorsen’s Viking Global is the biggest BridgeBio Pharma, Inc. (NASDAQ:BBIO) stakeholder, with 26.6 million shares amounting to $1.24 billion.

H.C. Wainwright analyst Raghuram Selvaraju on December 28 lowered the price target on BridgeBio Pharma, Inc. (NASDAQ:BBIO) to $24 from $88 as a result of one of the company’s drug trials failing, though he kept a Buy rating on the shares. 

Publishing its Q3 results on November 4, BridgeBio Pharma, Inc. (NASDAQ:BBIO) announced a loss per share of $1.06, missing estimates by $0.15. The revenue dropped 71.16% year-over-year, missing analysts’ consensus estimates. 

Here is what Baron Opportunity Fund has to say about BridgeBio Pharma, Inc. (NASDAQ:BBIO) in their Q2 2021 investor letter:

“BridgeBio Pharma, Inc. is a biotechnology company developing drugs that address a host of genetic disorders. Shares fell in the quarter given concerns around increasing competition. While we expect positive results from BridgeBio’s Phase 3 trial for its lead program for TTR amyloidosis, a disease in which toxic proteins build up in the heart and nerves, encouraging updates from Alnylam’s competing drug, Vitrusiran, and more recently, Intellia’s gene editing platform, pressured the stock. We exited our position.”