BridgeBio Pharma, Inc. (NASDAQ:BBIO) CFO Sells $2,467,720.00 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) CFO Brian C. Stephenson sold 68,000 shares of the company's stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at $3,402,477.82. This trade represents a 42.04 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link.

BridgeBio Pharma Price Performance

Shares of BBIO stock traded down $3.18 during mid-day trading on Monday, hitting $31.03. The company had a trading volume of 5,108,511 shares, compared to its average volume of 3,015,639. The stock's 50 day moving average price is $30.11 and its 200-day moving average price is $27.19. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $41.04. The company has a market capitalization of $5.86 billion, a P/E ratio of -12.88 and a beta of 1.05.

Institutional Investors Weigh In On BridgeBio Pharma

A number of hedge funds have recently made changes to their positions in BBIO. Janus Henderson Group PLC increased its stake in BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company's stock worth $122,658,000 after acquiring an additional 505,481 shares during the last quarter. Frazier Life Sciences Management L.P. lifted its position in BridgeBio Pharma by 3.5% in the third quarter. Frazier Life Sciences Management L.P. now owns 3,760,457 shares of the company's stock worth $95,741,000 after buying an additional 127,853 shares during the last quarter. Geode Capital Management LLC boosted its stake in BridgeBio Pharma by 3.8% during the third quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company's stock worth $86,936,000 after buying an additional 123,540 shares during the period. Charles Schwab Investment Management Inc. increased its position in BridgeBio Pharma by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company's stock valued at $32,711,000 after acquiring an additional 95,605 shares during the last quarter. Finally, Principal Financial Group Inc. lifted its stake in BridgeBio Pharma by 1.8% in the third 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 last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently commented on BBIO shares. Leerink Partners cut their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating for the company in a report on Thursday, October 17th. Bank of America boosted their target price on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday, November 25th. 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. HC Wainwright restated a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. Finally, Scotiabank lifted their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the company a "sector outperform" rating in a research report on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $49.00.

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.