Insider Selling: BridgeBio Pharma, Inc. (NASDAQ:BBIO) Major Shareholder Sells 5,800,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction 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 in the company, valued at $650,470,003.25. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Major shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $26.83 on Friday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32. The business has a fifty day moving average price of $26.51 and a 200-day moving average price of $27.23. The firm has a market capitalization of $5.02 billion, a price-to-earnings ratio of -8.33 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. During the same period in the prior year, the firm posted ($0.98) EPS. The business’s revenue for the quarter was up 32.1% on a year-over-year basis. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -2.49 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on BBIO. Piper Sandler assumed coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price for the company. UBS Group lowered their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. HC Wainwright reaffirmed a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a research report on Monday. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday. Finally, Bank of America restated a “buy” rating and issued a $42.00 price target on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BBIO. YHB Investment Advisors Inc. purchased a new position in BridgeBio Pharma during the first quarter valued at approximately $34,000. Bfsg LLC raised its position in shares of BridgeBio Pharma by 175.6% during 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 period. Quarry LP purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at $50,000. Headlands Technologies LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth $48,000. Finally, Assetmark Inc. increased its stake in BridgeBio Pharma by 46.8% in the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after buying an additional 935 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Company 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.