BridgeBio Pharma, Inc. (NASDAQ:BBIO) Major Shareholder Genetic Disorder L.P. Kkr Sells 6,000,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now directly owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. This trade represents a 23.75 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Major shareholders that own at least 10% of a company’s stock are required to disclose their sales and purchases with the SEC.

BridgeBio Pharma Stock Down 2.0 %

Shares of BBIO opened at $31.57 on Friday. The company has a 50-day simple moving average of $33.16 and a 200-day simple moving average of $28.58. The company has a market capitalization of $6.00 billion, a PE ratio of -11.08 and a beta of 1.07. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analyst estimates of $4.04 million. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

Large investors have recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its holdings in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. purchased a new position in BridgeBio Pharma during the 4th quarter valued at about $41,000. Sterling Capital Management LLC increased its holdings in BridgeBio Pharma by 554.6% during the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock valued at $49,000 after acquiring an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in BridgeBio Pharma during the 4th quarter valued at about $109,000. Finally, Advisors Asset Management Inc. increased its holdings in BridgeBio Pharma by 56.1% during the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have weighed in on BBIO shares. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. Citigroup lifted their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Evercore ISI upped their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Bank of America raised their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Scotiabank raised their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $51.55.

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.