BridgeBio Pharma, Inc. (NASDAQ:BBIO) Major Shareholder Genetic Disorder L.P. Kkr Sells 5,800,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO) major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Large shareholders that own 10% or more of a company’s stock are required to disclose their transactions with the SEC.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $26.73 on Wednesday. The stock has a market cap of $5.00 billion, a price-to-earnings ratio of -8.30 and a beta of 1.07. The business has a 50 day simple moving average of $26.52 and a 200 day simple moving average of $27.24. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to analyst estimates of $3.96 million. During the same quarter last year, the company earned ($0.98) EPS. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, analysts predict that BridgeBio Pharma, Inc. will post -2.49 EPS for the current year.

Hedge Funds Weigh In On BridgeBio Pharma

A number of large investors have recently added to or reduced their stakes in BBIO. Vanguard Group Inc. boosted its position in shares of BridgeBio Pharma by 3.3% during the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after buying an additional 421,832 shares during the period. Frazier Life Sciences Management L.P. boosted its position in BridgeBio Pharma by 6.4% during the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after acquiring an additional 217,000 shares during the last quarter. Janus Henderson Group PLC grew its stake in shares of BridgeBio Pharma by 189.7% during the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after acquiring an additional 2,169,143 shares in the last quarter. Capital Research Global Investors raised its holdings in shares of BridgeBio Pharma by 101.1% in the first quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after purchasing an additional 1,111,975 shares during the last quarter. Finally, Ensign Peak Advisors Inc lifted its position in shares of BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock worth $41,698,000 after purchasing an additional 506,845 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have issued reports on BBIO. JPMorgan Chase & Co. lowered their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a report on Wednesday, August 7th. Evercore ISI reduced their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. UBS Group dropped their price objective on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a report on Tuesday, May 28th. HC Wainwright restated a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a report on Monday. Finally, Bank of America restated a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $47.92.

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.