Victory Capital Management Inc. Sells 312,156 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Victory Capital Management Inc. trimmed its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 82.8% during the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 65,026 shares of the company's stock after selling 312,156 shares during the quarter. Victory Capital Management Inc.'s holdings in BridgeBio Pharma were worth $1,784,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Steward Partners Investment Advisory LLC increased its stake in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Advisors Asset Management Inc. increased its position in shares of BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company's stock worth $117,000 after acquiring an additional 1,645 shares in the last quarter. Avanza Fonder AB purchased a new position in shares of BridgeBio Pharma in the fourth quarter worth approximately $181,000. First Bank & Trust acquired a new stake in shares of BridgeBio Pharma during the fourth quarter valued at approximately $205,000. Finally, Moss Adams Wealth Advisors LLC purchased a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $208,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Activity at BridgeBio Pharma

In other news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares of the company's stock, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company'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 transaction, the insider now owns 19,260,971 shares of the company's stock, valued at approximately $634,841,604.16. The trade was a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,579,739 shares of company stock worth $323,171,901. 24.66% of the stock is owned by insiders.

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Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Scotiabank lifted their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. HC Wainwright reissued a "buy" rating and set a $49.00 price target on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. Bank of America lifted their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research note on Monday, November 25th. Finally, Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus price target of $51.55.

BridgeBio Pharma Trading Up 2.4 %

BridgeBio Pharma stock traded up $0.81 during mid-day trading on Friday, hitting $34.72. 2,617,537 shares of the company's stock were exchanged, compared to its average volume of 2,122,838. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.47. The stock has a 50 day moving average of $33.96 and a two-hundred day moving average of $29.03. The stock has a market cap of $6.60 billion, a P/E ratio of -12.18 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

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.