BridgeBio Pharma, Inc. (NASDAQ:BBIO) Major Shareholder Genetic Disorder L.P. Kkr Sells 6,000,000 Shares of Stock

BridgeBio Pharma, Inc. (NASDAQ:BBIO) major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the sale, the insider now owns 13,260,971 shares in the company, valued at $453,525,208.20. This represents a 31.15% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own 10% or more of a company’s stock are required to disclose their sales and purchases with the SEC.

Genetic Disorder L.P. Kkr also recently made the following trade(s):

• On Wednesday, March 5th, Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00.

BridgeBio Pharma Stock Up 1.2%

NASDAQ:BBIO opened at $33.66 on Thursday. The firm has a market cap of $6.39 billion, a PE ratio of -11.81 and a beta of 1.15. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.54. The company’s 50-day moving average price is $34.35 and its two-hundred day moving average price is $31.41.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. BridgeBio Pharma’s quarterly revenue was down 44.8% on a year-over-year basis. During the same quarter last year, the firm earned ($0.20) earnings per share. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Hedge Funds Weigh In On BridgeBio Pharma

A number of institutional investors have recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC raised its stake in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after acquiring an additional 472 shares during the last quarter. GAMMA Investing LLC raised its stake in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after acquiring an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma in the fourth quarter worth about $41,000. Sterling Capital Management LLC raised its stake in shares of BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company’s stock worth $49,000 after acquiring an additional 1,514 shares during the last quarter. Finally, GF Fund Management CO. LTD. bought a new position in shares of BridgeBio Pharma in the fourth quarter worth about $109,000. 99.85% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have issued reports on BBIO shares. UBS Group raised their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a “buy” rating in a research report on Wednesday, April 30th. Scotiabank raised their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a “sector outperform” rating in a research report on Wednesday, April 30th. HC Wainwright raised their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a “buy” rating in a research report on Tuesday, April 15th. Cantor Fitzgerald restated an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, Citigroup lifted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $57.09.

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.