BridgeBio Pharma, Inc. (NASDAQ:BBIO) Major Shareholder Genetic Disorder L.P. Kkr Sells 6,000,000 Shares

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the sale, 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 sale was disclosed in a filing with the SEC, which is available through this link. Major shareholders that own more than 10% of a company's shares are required to disclose their sales and purchases with the SEC.

BridgeBio Pharma Stock Up 1.1 %

BBIO traded up $0.33 during trading hours on Tuesday, hitting $31.73. The stock had a trading volume of 1,353,165 shares, compared to its average volume of 3,176,625. The stock has a market cap of $6.04 billion, a PE ratio of -11.09 and a beta of 1.07. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The company's fifty day simple moving average is $33.24 and its 200 day simple moving average is $28.67.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly 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 for the quarter, compared to the consensus estimate of $4.04 million. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

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Hedge Funds Weigh In On BridgeBio Pharma

Several hedge funds have recently bought and sold shares of BBIO. Vanguard Group Inc. lifted its position in BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after acquiring an additional 89,521 shares during the last quarter. Farallon Capital Management LLC grew its position in BridgeBio Pharma by 140.1% in the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after acquiring an additional 2,448,000 shares in the last quarter. Frazier Life Sciences Management L.P. increased its stake in BridgeBio Pharma by 1.1% in the fourth quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock valued at $104,285,000 after acquiring an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors raised its position in BridgeBio Pharma by 34.9% during the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after purchasing an additional 912,439 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

BBIO has been the subject of a number of analyst reports. Citigroup lifted their price target on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. HC Wainwright reiterated a "buy" rating and set a $49.00 price target on shares of BridgeBio Pharma in a report on Thursday, February 13th. Scotiabank increased their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a research report on Friday, February 21st. Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a research note on Friday, February 21st. Finally, Bank of America raised their price target 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. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $51.55.

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.