BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 6.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 64,807 shares of the company’s stock after selling 4,779 shares during the quarter. Wellington Management Group LLP’s holdings in BridgeBio Pharma were worth $1,778,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Y Intercept Hong Kong Ltd purchased a new stake in BridgeBio Pharma in the third quarter valued at $338,000. Barclays PLC lifted its holdings in shares of BridgeBio Pharma by 31.9% in the 3rd quarter. Barclays PLC now owns 545,008 shares of the company’s stock valued at $13,876,000 after purchasing an additional 131,743 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Geode Capital Management LLC now owns 3,413,949 shares of the company’s stock valued at $86,936,000 after purchasing an additional 123,540 shares during the period. Exome Asset Management LLC boosted its position in shares of BridgeBio Pharma by 167.4% in the 3rd quarter. Exome Asset Management LLC now owns 211,000 shares of the company’s stock valued at $5,372,000 after purchasing an additional 132,093 shares during the period. Finally, Principal Financial Group Inc. grew its stake in BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after buying an additional 19,978 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

Analyst Ratings Changes

Several research firms have recently weighed in on BBIO. Cantor Fitzgerald reissued an “overweight” rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. JPMorgan Chase & Co. increased their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an “overweight” rating in a research note on Monday, March 24th. HC Wainwright restated a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research note on Thursday, February 13th. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They set a “buy” rating and a $50.00 target price for the company. Finally, Evercore ISI raised their price target on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a report on Monday, December 23rd. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average price target of $52.64.

Insider Buying and Selling

In other news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction that occurred on 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 completion of the sale, the insider now directly owns 22,055,375 shares in the company, valued at approximately $769,732,587.50. This trade represents a 12.20 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the sale, the chief executive officer now directly owns 5,371,515 shares in the company, valued at $194,932,279.35. This trade represents a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,684,739 shares of company stock valued at $326,958,651 over the last quarter. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Up 5.0 %

NASDAQ BBIO opened at $33.91 on Friday. The stock has a market capitalization of $6.45 billion, a P/E ratio of -11.90 and a beta of 1.08. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.47. The firm has a 50-day moving average price of $33.59 and a 200 day moving average price of $29.79.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results 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 during the quarter, compared to analyst estimates of $4.04 million. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

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.