BridgeBio Pharma, Inc. $BBIO Shares Sold by KBC Group NV

KBC Group NV lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 98.0% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 4,195 shares of the company’s stock after selling 201,905 shares during the quarter. KBC Group NV’s holdings in BridgeBio Pharma were worth $181,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently bought and sold shares of the business. Campbell & CO Investment Adviser LLC purchased a new stake in BridgeBio Pharma during the 2nd quarter worth $1,514,000. Mitsubishi UFJ Asset Management Co. Ltd. acquired a new position in shares of BridgeBio Pharma during the second quarter worth $25,000. Los Angeles Capital Management LLC acquired a new position in BridgeBio Pharma in the 2nd quarter worth $693,000. Fox Run Management L.L.C. purchased a new position in BridgeBio Pharma in the second quarter valued at about $2,746,000. Finally, Savant Capital LLC purchased a new position in shares of BridgeBio Pharma during the 2nd quarter valued at approximately $218,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently commented on BBIO shares. Cowen reiterated a “positive” rating on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Scotiabank upped their price objective on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, August 6th. HC Wainwright reaffirmed a “buy” rating and issued a $90.00 target price on shares of BridgeBio Pharma in a research report on Monday, November 3rd. Leerink Partners set a $68.00 price objective on BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Monday, October 27th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $71.00 price objective (up previously from $69.00) on shares of BridgeBio Pharma in a report on Thursday, October 30th. Twenty equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company. According to data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $74.37.

BridgeBio Pharma Price Performance

BBIO stock opened at $65.54 on Thursday. The firm has a market cap of $12.63 billion, a PE ratio of -15.68 and a beta of 1.39. BridgeBio Pharma, Inc. has a 12 month low of $22.05 and a 12 month high of $69.48. The firm has a 50 day simple moving average of $57.23 and a 200 day simple moving average of $48.21.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The business had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. During the same quarter in the prior year, the company earned ($0.86) earnings per share. The business’s quarterly revenue was up 4318.0% compared to the same quarter last year. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the business’s stock in a transaction dated Monday, November 17th. The stock was sold at an average price of $66.65, for a total transaction of $666,500.00. Following the sale, the director owned 11,589 shares in the company, valued at approximately $772,406.85. The trade was a 46.32% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Hannah Valantine sold 25,484 shares of the company’s stock in a transaction dated Wednesday, November 12th. The shares were sold at an average price of $66.07, for a total transaction of $1,683,727.88. Following the sale, the director directly owned 7,465 shares of the company’s stock, valued at $493,212.55. This represents a 77.34% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold 603,048 shares of company stock valued at $37,702,289 over the last ninety days. Company insiders own 18.20% of the company’s stock.

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.