BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by XTX Topco Ltd

XTX Topco Ltd cut its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 26.9% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 12,096 shares of the company’s stock after selling 4,460 shares during the period. XTX Topco Ltd’s holdings in BridgeBio Pharma were worth $306,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of BBIO. Bfsg LLC lifted its position in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after purchasing an additional 790 shares during the last quarter. YHB Investment Advisors Inc. bought a new stake in BridgeBio Pharma in the 1st quarter valued at about $34,000. Headlands Technologies LLC bought a new stake in BridgeBio Pharma in the 2nd quarter valued at about $48,000. Quarry LP bought a new stake in BridgeBio Pharma in the 4th quarter valued at about $50,000. Finally, EntryPoint Capital LLC bought a new stake in BridgeBio Pharma in the 1st quarter valued at about $117,000. 99.85% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The shares were 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 $650,470,003.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The shares were 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 $650,470,003.25. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the transaction, the chief financial officer now directly owns 85,192 shares in the company, valued at $2,103,390.48. The disclosure for this sale can be found here. Insiders have sold 5,831,544 shares of company stock worth $150,128,821 in the last ninety days. 24.66% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBIO. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. HC Wainwright restated a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a research report on Monday, September 16th. Bank of America restated a “buy” rating and set a $42.00 price target on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Evercore ISI dropped their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. dropped their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $47.92.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $24.94 on Friday. The company’s 50 day simple moving average is $26.27 and its 200 day simple moving average is $27.06. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32. The company has a market capitalization of $4.67 billion, a P/E ratio of -7.75 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The business had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. During the same quarter in the previous year, the firm earned ($0.98) earnings per share. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current 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.