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

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 on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares of the company’s stock, valued at approximately $634,841,604.16. This represents a 23.75 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Major shareholders that own 10% or more of a company’s shares are required to disclose their transactions with the SEC.

BridgeBio Pharma Stock Down 2.0 %

Shares of NASDAQ BBIO traded down $0.66 during midday trading on Friday, hitting $31.57. The stock had a trading volume of 3,266,167 shares, compared to its average volume of 3,214,343. The company has a market capitalization of $6.00 billion, a price-to-earnings ratio of -11.08 and a beta of 1.07. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.47. The company has a fifty day moving average price of $33.09 and a 200 day moving average price of $28.54.

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 the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. On average, research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Wall Street Analyst Weigh In

BBIO has been the topic of several analyst reports. Scotiabank boosted their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Evercore ISI boosted their target price 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. Citigroup raised their price target 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. Finally, HC Wainwright reaffirmed a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $51.55.

Institutional Trading of BridgeBio Pharma

A number of large investors have recently bought and sold shares of the stock. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $41,000. Sterling Capital Management LLC raised its stake in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after buying an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. acquired a new position in BridgeBio Pharma in the fourth quarter valued at approximately $109,000. Finally, Advisors Asset Management Inc. increased its position in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after buying an additional 1,645 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

About BridgeBio Pharma

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.