BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction dated 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 sale, the insider now 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 filing with the Securities & Exchange Commission, which is available at this link. Large 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 stock opened at $31.57 on Friday. The stock has a market cap of $6.00 billion, a price-to-earnings ratio of -11.08 and a beta of 1.07. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.47. The firm's 50 day moving average price is $33.16 and its two-hundred day moving average price is $28.58.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data 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 the consensus estimate of $4.04 million. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.
Analyst Ratings Changes
BBIO has been the subject of a number of recent research reports. Evercore ISI lifted their price target on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a report on Monday, December 23rd. Citigroup lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. HC Wainwright reiterated a "buy" rating and set a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. 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 report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma currently has an average rating of "Moderate Buy" and a consensus target price of $51.55.
Get Our Latest Research Report on BridgeBio Pharma
Institutional Trading of BridgeBio Pharma
A number of hedge funds have recently made changes to their positions in BBIO. Principal Financial Group Inc. raised its stake in shares of BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock valued at $29,155,000 after purchasing an additional 19,978 shares during the period. State of New Jersey Common Pension Fund D increased its stake in shares of BridgeBio Pharma by 13.7% in the third quarter. State of New Jersey Common Pension Fund D now owns 76,586 shares of the company's stock worth $1,950,000 after buying an additional 9,225 shares during the last quarter. WCM Investment Management LLC increased its stake in shares of BridgeBio Pharma by 49.2% in the third quarter. WCM Investment Management LLC now owns 263,679 shares of the company's stock worth $6,576,000 after buying an additional 86,987 shares during the last quarter. Royce & Associates LP bought a new stake in shares of BridgeBio Pharma in the third quarter worth $3,105,000. Finally, Mizuho Markets Americas LLC increased its stake in shares of BridgeBio Pharma by 3.8% in the third quarter. Mizuho Markets Americas LLC now owns 87,180 shares of the company's stock worth $2,220,000 after buying an additional 3,198 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.
BridgeBio Pharma Company Profile
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Get Free Report)
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.
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