Eagle Asset Management Inc. Lowers Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Eagle Asset Management Inc. decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 95.8% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 11,201 shares of the company's stock after selling 252,383 shares during the period. Eagle Asset Management Inc.'s holdings in BridgeBio Pharma were worth $303,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the business. Profund Advisors LLC increased its position in shares of BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company's stock valued at $1,293,000 after buying an additional 555 shares during the period. American International Group Inc. raised its position in shares of BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company's stock worth $1,778,000 after acquiring an additional 565 shares in the last quarter. Bfsg LLC raised its position in shares of BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company's stock worth $31,000 after acquiring an additional 790 shares in the last quarter. Allspring Global Investments Holdings LLC lifted its stake in shares of BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company's stock valued at $135,000 after purchasing an additional 801 shares during the period. Finally, Amalgamated Bank boosted its position in shares of BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company's stock valued at $123,000 after purchasing an additional 962 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have recently commented on BBIO shares. Oppenheimer began coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a "market perform" rating on the stock. Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an "overweight" rating and a $46.00 price objective on the stock. JPMorgan Chase & Co. lowered their target price on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating for the company in a report on Wednesday, August 7th. Evercore ISI cut their price target on BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating on the stock in a research note on Wednesday, August 7th. Finally, Bank of America raised their price objective on BridgeBio Pharma from $42.00 to $45.00 and gave the company a "buy" rating in a research report on Monday. Two investment analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $48.43.

BridgeBio Pharma Stock Down 2.8 %

BBIO traded down $0.75 during midday trading on Tuesday, hitting $26.44. 4,317,097 shares of the company traded hands, compared to its average volume of 1,921,169. The company's 50-day moving average is $24.97 and its 200 day moving average is $26.21. The firm has a market capitalization of $5.00 billion, a PE ratio of -10.97 and a beta of 1.09. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $44.32.

Insider Activity

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm's stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now directly owns 25,260,971 shares of the company's stock, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the firm's stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the transaction, the chief financial officer now directly owns 93,758 shares in the company, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock valued at $150,056,923 over the last three months. Insiders own 24.66% of the company's stock.

BridgeBio Pharma Profile

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.