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 firm’s stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the sale, the insider now owns 13,260,971 shares in the company, valued at approximately $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Major shareholders that own more than 10% of a company’s shares are required to disclose their transactions with the SEC.

Genetic Disorder L.P. Kkr also recently made the following trade(s):

• On Wednesday, March 5th, Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00.

BridgeBio Pharma Trading Up 0.2%

Shares of NASDAQ BBIO opened at $33.74 on Friday. The company has a market capitalization of $6.41 billion, a price-to-earnings ratio of -11.84 and a beta of 1.15. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.54. The business has a 50 day simple moving average of $34.40 and a 200-day simple moving average of $31.47.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million for the quarter, compared to the consensus estimate of $57.14 million. The firm’s revenue for the quarter was down 44.8% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.20) EPS. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the business. Barclays PLC raised its stake in BridgeBio Pharma by 31.9% during the third quarter. Barclays PLC now owns 545,008 shares of the company’s stock worth $13,876,000 after acquiring an additional 131,743 shares during the period. Principal Financial Group Inc. raised its position in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after purchasing an additional 19,978 shares during the period. Avanza Fonder AB bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $181,000. Moss Adams Wealth Advisors LLC bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $208,000. Finally, Atomi Financial Group Inc. bought a new position in BridgeBio Pharma during the 4th quarter worth $392,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of research firms have recently commented on BBIO. Scotiabank boosted their target price on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. Redburn Atlantic initiated coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a “buy” rating and a $50.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Citigroup boosted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research note on Friday, February 21st. Finally, HC Wainwright raised their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $57.09.

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.