5 Stocks to Buy According to Billionaire Andreas Halvorsen’s Viking Global

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

Viking Global’s Stake Value: $444,038,000

Percentage of Viking Global’s 13F Portfolio: 1.28%

Number of Hedge Fund Holders: 25

BridgeBio Pharma, Inc. (NASDAQ:BBIO), a biopharmaceutical company manufacturing drugs for genetic diseases and cancers, is one of the top stocks to buy according to billionaire Andreas Halvorsen’s Viking Global. The hedge fund holds a $444 million stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) as of the fourth quarter of 2021, which accounts for 1.28% of the total 13F securities. 

BridgeBio Pharma, Inc. (NASDAQ:BBIO) announced on November 18 that it had gained non-dilutive debt financing of $750 million from a syndicate of lenders, which would allow BridgeBio Pharma, Inc. (NASDAQ:BBIO) to fund its portfolio of more than 30 drug and discovery programs. To pursue commercialization of its drug pipeline and products, BridgeBio Pharma, Inc. (NASDAQ:BBIO) now has access to over $1.2 billion, including cash balance and the debt financing. 

25 hedge funds in Insider Monkey’s database of 924 elite funds were long BridgeBio Pharma, Inc. (NASDAQ:BBIO) in Q4, with a total stake value of $799.4 million. Joseph Edelman’s Perceptive Advisors is one of the leading company stakeholders, with 7.1 million shares worth $118.90 million.

H.C. Wainwright analyst Raghuram Selvaraju on December 28 lowered the price target on BridgeBio Pharma, Inc. (NASDAQ:BBIO) to $24 from $88 in light of one of the company’s drug trials failing, though he kept a Buy rating on the shares. Given the trial data, Selvaraju has decreased the probability of approval to 10% from 85%, while also lowering the peak penetration rate and pushing out the the timing of potential approval to 2024.

Here is what Baron Opportunity Fund has to say about BridgeBio Pharma, Inc. (NASDAQ:BBIO) in its 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.”