Invesco Ltd. Reduces Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Invesco Ltd. decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 32.9% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 893,127 shares of the company's stock after selling 437,330 shares during the quarter. Invesco Ltd. owned about 0.47% of BridgeBio Pharma worth $24,507,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Barclays PLC boosted its stake in BridgeBio Pharma by 31.9% in the third quarter. Barclays PLC now owns 545,008 shares of the company's stock valued at $13,876,000 after acquiring an additional 131,743 shares during the period. Geode Capital Management LLC boosted its holdings in shares of BridgeBio Pharma by 3.8% in 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. Exome Asset Management LLC grew its position in BridgeBio Pharma by 167.4% during the 3rd quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock worth $5,372,000 after purchasing an additional 132,093 shares in the last quarter. Principal Financial Group Inc. lifted its position in shares of 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 in the last quarter. Finally, Avanza Fonder AB purchased a new stake in shares of BridgeBio Pharma during the fourth quarter worth $181,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

NASDAQ BBIO traded up $0.52 during trading hours on Thursday, reaching $35.75. 433,664 shares of the stock traded hands, compared to its average volume of 2,267,727. The company has a market cap of $6.80 billion, a price-to-earnings ratio of -12.55 and a beta of 1.08. 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 simple moving average of $33.88 and a two-hundred day simple moving average of $30.26.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on BBIO shares. Redburn Atlantic initiated coverage on BridgeBio Pharma in a research note on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective on the stock. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Scotiabank boosted their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. Finally, HC Wainwright raised their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a research note on Tuesday, April 15th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma presently has an average rating of "Moderate Buy" and a consensus price target of $53.00.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of BridgeBio Pharma 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 sale, the chief executive officer now owns 5,371,515 shares of the company's stock, valued at $194,932,279.35. The trade was a 5.74 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the firm's stock in a transaction on Friday, January 31st. The stock was sold at an average price of $34.90, for a total value of $106,989,998.40. Following the completion of the sale, the insider now owns 22,055,375 shares of the company's stock, valued at approximately $769,732,587.50. This represents a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,694,739 shares of company stock valued at $327,308,651. 24.66% of the stock is owned by corporate insiders.

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.