Victory Capital Management Inc. Trims Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Victory Capital Management Inc. reduced its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.4% in the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 377,182 shares of the company’s stock after selling 5,535 shares during the quarter. Victory Capital Management Inc.’s holdings in BridgeBio Pharma were worth $9,603,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Profund Advisors LLC increased its position in BridgeBio Pharma by 1.1% during the 2nd 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 in the last quarter. American International Group Inc. lifted its position in shares of BridgeBio Pharma by 1.0% in the first quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after acquiring an additional 565 shares in the last quarter. Bfsg LLC increased its holdings in shares of BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after purchasing an additional 790 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings 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 during the last quarter. Finally, Amalgamated Bank increased its stake in BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of analysts recently issued reports on BBIO shares. Leerink Partners lowered their price target on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. JPMorgan Chase & Co. dropped 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. Oppenheimer started coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating for the company. Finally, Evercore ISI decreased their price objective on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. 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 data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and a consensus price target of $47.57.

BridgeBio Pharma Trading Up 0.9 %

BBIO stock opened at $23.24 on Friday. The firm’s 50-day moving average is $25.01 and its two-hundred day moving average is $26.29. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $44.32. The company has a market capitalization of $4.39 billion, a price-to-earnings ratio of -9.64 and a beta of 1.09.

Insider Activity at BridgeBio Pharma

In related news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. This represents a 18.67 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,831,545 shares of company stock valued at $150,056,923. Corporate 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.