BridgeBio Pharma, Inc. (NASDAQ:BBIO) Major Shareholder Sells $106,989,998.40 in Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO - Get Free Report) major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm's stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total value of $106,989,998.40. Following the sale, the insider now directly owns 22,055,375 shares of the company's stock, valued at $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 6.3 %

Shares of NASDAQ:BBIO traded up $1.95 during midday trading on Tuesday, reaching $32.98. 3,109,458 shares of the company were exchanged, compared to its average volume of 3,020,202. The firm has a market cap of $6.23 billion, a PE ratio of -13.68 and a beta of 1.07. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $41.04. The stock has a fifty day simple moving average of $30.18 and a two-hundred day simple moving average of $27.22.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of BBIO. Allspring Global Investments Holdings LLC lifted its position in shares of BridgeBio Pharma by 17.7% in the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company's stock worth $135,000 after purchasing an additional 801 shares in the last quarter. Diversified Trust Co lifted its position in BridgeBio Pharma by 3.0% during the 3rd quarter. Diversified Trust Co now owns 36,772 shares of the company's stock worth $936,000 after buying an additional 1,059 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of BridgeBio Pharma by 21.7% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 6,801 shares of the company's stock worth $170,000 after buying an additional 1,214 shares during the last quarter. Advisors Asset Management Inc. grew its holdings in shares of BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock valued at $117,000 after acquiring an additional 1,645 shares in the last quarter. Finally, Xponance Inc. increased its position in shares of BridgeBio Pharma by 25.5% in the second quarter. Xponance Inc. now owns 8,871 shares of the company's stock valued at $225,000 after acquiring an additional 1,803 shares during the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. HC Wainwright reaffirmed a "buy" rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Monday, December 16th. Bank of America lifted their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the stock a "buy" rating in a research note on Monday, November 25th. Leerink Partners cut their target price on BridgeBio Pharma from $47.00 to $46.00 and set an "outperform" rating on the stock in a research note on Thursday, October 17th. Scotiabank boosted their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a "sector outperform" rating in a research report on Monday, November 25th. Finally, Evercore ISI boosted their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a report on Monday, December 23rd. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat, BridgeBio Pharma presently has an average rating of "Moderate Buy" and a consensus 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.