BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Eagle Asset Management Inc.

Eagle Asset Management Inc. decreased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 95.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 11,201 shares of the company’s stock after selling 252,383 shares during the quarter. Eagle Asset Management Inc.’s holdings in BridgeBio Pharma were worth $303,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in BBIO. Janus Henderson Group PLC raised its holdings in shares of BridgeBio Pharma by 189.7% in the 1st quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock valued at $102,402,000 after purchasing an additional 2,169,143 shares in the last quarter. Ensign Peak Advisors Inc increased its holdings in BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after buying an additional 506,845 shares during the last quarter. The Manufacturers Life Insurance Company increased its holdings in BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock valued at $38,881,000 after buying an additional 442,248 shares during the last quarter. Emerald Advisers LLC raised its stake in BridgeBio Pharma by 65.6% in the third quarter. Emerald Advisers LLC now owns 1,103,508 shares of the company’s stock valued at $28,095,000 after buying an additional 437,164 shares in the last quarter. Finally, First Turn Management LLC purchased a new stake in BridgeBio Pharma during the 3rd quarter worth about $10,178,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently commented on the company. Oppenheimer initiated coverage on BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock. Piper Sandler assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective on the stock. Leerink Partners lowered their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Scotiabank lifted their price target on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research note on Monday. Finally, Evercore ISI dropped their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $48.43.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $27.19 on Tuesday. The business has a 50 day simple moving average of $24.98 and a 200-day simple moving average of $26.23. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32. The stock has a market capitalization of $5.14 billion, a PE ratio of -11.28 and a beta of 1.09.

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.