Eagle Asset Management Inc. Decreases Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Eagle Asset Management Inc. decreased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIOFree Report) by 95.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,201 shares of the company’s stock after selling 252,383 shares during the quarter. Eagle Asset Management Inc.’s holdings in BridgeBio Pharma were worth $303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of BBIO. Price T Rowe Associates Inc. MD boosted its holdings in BridgeBio Pharma by 22.1% in the 1st 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. First Turn Management LLC purchased a new position in shares of BridgeBio Pharma in the third quarter valued at approximately $10,178,000. Jennison Associates LLC acquired a new stake in shares of BridgeBio Pharma in the third quarter worth approximately $767,000. Comerica Bank increased its position in shares of BridgeBio Pharma by 3,013.5% during the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after purchasing an additional 37,277 shares in the last quarter. Finally, Frazier Life Sciences Management L.P. increased its position in shares of BridgeBio Pharma by 6.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after purchasing an additional 217,000 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analysts Set New Price Targets

BBIO has been the topic of several recent research reports. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research note on Monday, September 16th. Bank of America increased their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday. Scotiabank boosted their target price on BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a report on Monday. Piper Sandler began coverage on BridgeBio Pharma in a research report on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective on the stock. Finally, Leerink Partners dropped their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a report on Thursday, October 17th. Two equities research analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $48.43.

View Our Latest Report on BBIO

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $27.19 on Tuesday. The company’s 50 day simple moving average is $24.98 and its 200-day simple moving average is $26.23. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The company has a market capitalization of $5.14 billion, a price-to-earnings ratio of -11.28 and a beta of 1.09.

Insider Buying and Selling at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,156 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the completion of the transaction, the chief financial officer now owns 93,758 shares in the company, valued at approximately $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction that occurred on Friday, September 13th. The stock was 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 in the company, valued at approximately $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,545 shares of company stock valued at $150,056,923 over the last quarter. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Profile

(Free Report)

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.

Recommended Stories

Want to see what other hedge funds are holding BBIO? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for BridgeBio Pharma, Inc. (NASDAQ:BBIOFree Report).

Institutional Ownership by Quarter for BridgeBio Pharma (NASDAQ:BBIO)

Receive News & Ratings for BridgeBio Pharma Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for BridgeBio Pharma and related companies with MarketBeat.com's FREE daily email newsletter.