BridgeBio Pharma, Inc. (NASDAQ:BBIO) Major Shareholder Global Investors Lp Viking Sells 3,065,616 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the transaction, the insider now owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Large shareholders that own 10% or more of a company’s shares are required to disclose their sales and purchases with the SEC.

BridgeBio Pharma Stock Down 4.9 %

NASDAQ:BBIO opened at $34.21 on Friday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $41.04. The stock’s fifty day simple moving average is $29.89 and its 200-day simple moving average is $27.16. The firm has a market capitalization of $6.47 billion, a P/E ratio of -14.19 and a beta of 1.05.

Analysts Set New Price Targets

BBIO has been the subject of a number of research reports. Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research note on Monday, December 23rd. Bank of America raised their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Leerink Partners reduced their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating on the stock in a research report on Thursday, October 17th. HC Wainwright reissued a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a report on Monday, December 16th. Finally, Scotiabank upped their price objective on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. One analyst has rated the stock with a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $49.00.

Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently added to or reduced their stakes in BBIO. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma in the 3rd quarter valued at about $57,000. CWM LLC boosted its stake in BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after purchasing an additional 1,645 shares during the period. Allspring Global Investments Holdings LLC increased its stake in BridgeBio Pharma by 17.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock valued at $135,000 after purchasing an additional 801 shares in the last quarter. Finally, Avanza Fonder AB bought a new stake in BridgeBio Pharma in the fourth quarter valued at approximately $181,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.