Wellington Management Group LLP Trims Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Wellington Management Group LLP lowered its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 95.3% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 69,586 shares of the company’s stock after selling 1,400,524 shares during the quarter. Wellington Management Group LLP’s holdings in BridgeBio Pharma were worth $1,772,000 at the end of the most recent quarter.

A number of other large investors have also recently made changes to their positions in the business. Bfsg LLC lifted its stake in 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 acquiring an additional 790 shares during the period. Headlands Technologies LLC purchased a new stake in shares of BridgeBio Pharma in the 2nd quarter worth about $48,000. Values First Advisors Inc. bought a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $57,000. CWM LLC increased its position in shares of BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after buying an additional 1,964 shares during the period. Finally, Advisors Asset Management Inc. raised its stake in BridgeBio Pharma by 56.1% in the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after buying an additional 1,645 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,156 shares of the business’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 $93,135.96. Following the completion of the sale, 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 27,389 shares of the firm’s stock in a transaction on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total value of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This trade represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $25.98 on Thursday. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $44.32. The business’s fifty day moving average is $25.75 and its 200 day moving average is $26.09. The stock has a market capitalization of $4.91 billion, a PE ratio of -10.78 and a beta of 1.08.

Analyst Upgrades and Downgrades

BBIO has been the topic of several research reports. Piper Sandler began coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective on the stock. Leerink Partners decreased their price objective on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Oppenheimer assumed coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They set a “market perform” rating on the stock. HC Wainwright reiterated a “buy” rating and issued a $49.00 price target on shares of BridgeBio Pharma in a research note on Monday. Finally, Scotiabank upped their price objective on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday, November 25th. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average price target of $47.69.

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.