AQR Capital Management LLC Sells 4,800 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

AQR Capital Management LLC reduced its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 3.7% during the 2nd quarter, HoldingsChannel reports. The firm owned 125,160 shares of the company’s stock after selling 4,800 shares during the quarter. AQR Capital Management LLC’s holdings in BridgeBio Pharma were worth $3,170,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. Wellington Management Group LLP raised its stake in shares of BridgeBio Pharma by 5.3% in the 4th quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after purchasing an additional 75,564 shares during the period. Price T Rowe Associates Inc. MD grew its stake in shares of BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after buying an additional 145,594 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of BridgeBio Pharma by 3.3% in the first quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock worth $408,828,000 after purchasing an additional 421,832 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in BridgeBio Pharma during the fourth quarter valued at $7,474,000. Finally, Comerica Bank boosted its position in BridgeBio Pharma by 3,013.5% during the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after acquiring an additional 37,277 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently weighed in on BBIO shares. Evercore ISI lowered their target price on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Bank of America reiterated a “buy” rating and issued a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Oppenheimer began coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They issued a “market perform” rating for the company. Cantor Fitzgerald restated an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Finally, JPMorgan Chase & Co. reduced their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Two research analysts have rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average target price of $47.92.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the transaction, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. Company insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Performance

BBIO opened at $24.84 on Tuesday. The stock has a market capitalization of $4.65 billion, a price-to-earnings ratio of -7.71 and a beta of 1.08. The company has a fifty day moving average of $26.08 and a 200 day moving average of $26.92. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.61. The business had revenue of $2.17 million for the quarter, compared to the consensus estimate of $3.96 million. During the same quarter last year, the business earned ($0.98) EPS. BridgeBio Pharma’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current 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.