Invesco Ltd. Sells 437,330 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Invesco Ltd. lessened its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 32.9% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 893,127 shares of the company’s stock after selling 437,330 shares during the quarter. Invesco Ltd.’s holdings in BridgeBio Pharma were worth $24,507,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. 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 valued at $28,000 after buying an additional 472 shares during the period. Avanza Fonder AB bought a new stake in BridgeBio Pharma in the 4th quarter valued at about $181,000. First Bank & Trust purchased a new stake in BridgeBio Pharma during the fourth quarter valued at about $205,000. Moss Adams Wealth Advisors LLC purchased a new stake in BridgeBio Pharma during the fourth quarter valued at about $208,000. Finally, Legato Capital Management LLC bought a new position in BridgeBio Pharma during the fourth quarter worth about $210,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on BBIO. HC Wainwright upped their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a “buy” rating in a research note on Tuesday. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Evercore ISI lifted their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a research report on Monday, December 23rd. Scotiabank raised their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research note on Friday, February 21st. Finally, JPMorgan Chase & Co. upped their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the company an “overweight” rating in a research report on Monday, March 24th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, BridgeBio Pharma has a consensus rating of “Moderate Buy” and an average target price of $53.00.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total value of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at $194,932,279.35. The trade was a 5.74 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the sale, the insider now owns 22,055,375 shares of the company’s stock, valued at approximately $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 9,694,739 shares of company stock worth $327,308,651. 24.66% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock opened at $33.87 on Friday. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.47. The firm has a market cap of $6.44 billion, a PE ratio of -11.88 and a beta of 1.08. The company has a 50 day simple moving average of $33.79 and a two-hundred day simple moving average of $30.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, February 20th. The company reported ($1.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.