Alliancebernstein L.P. Sells 33,374 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Alliancebernstein L.P. cut its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 1.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 2,794,292 shares of the company's stock after selling 33,374 shares during the period. Alliancebernstein L.P. owned 1.48% of BridgeBio Pharma worth $76,675,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Norges Bank purchased a new position in BridgeBio Pharma during the fourth quarter valued at approximately $29,237,000. Vanguard Group Inc. grew its holdings in shares of BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after purchasing an additional 879,059 shares in the last quarter. Janus Henderson Group PLC increased its holdings in shares of BridgeBio Pharma by 11.7% in the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company's stock worth $122,658,000 after buying an additional 505,481 shares during the last quarter. Exome Asset Management LLC raised its position in BridgeBio Pharma by 167.4% during the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock valued at $5,372,000 after purchasing an additional 132,093 shares in the last quarter. Finally, Barclays PLC raised its holdings in shares of BridgeBio Pharma by 31.9% during the 3rd quarter. Barclays PLC now owns 545,008 shares of the company's stock valued at $13,876,000 after buying an additional 131,743 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

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BridgeBio Pharma Stock Up 3.4 %

NASDAQ BBIO traded up $1.03 during trading hours on Tuesday, reaching $31.70. The company's stock had a trading volume of 1,135,380 shares, compared to its average volume of 2,225,824. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The firm's 50-day moving average price is $33.89 and its 200-day moving average price is $29.57. The company has a market capitalization of $6.03 billion, a price-to-earnings ratio of -11.13 and a beta of 1.08.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its 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 analysts' expectations of $4.04 million. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In related news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the transaction, the insider now owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. This trade represents a 23.75 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the stock in a transaction that occurred on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the transaction, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,684,739 shares of company stock worth $326,958,651 over the last 90 days. 24.66% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on BBIO shares. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Friday, February 21st. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research note on Monday, March 24th. HC Wainwright restated a "buy" rating and issued a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. Finally, 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 research note on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma presently has an average rating of "Moderate Buy" and an average price target of $52.64.

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.