Barclays PLC Sells 97,498 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Barclays PLC reduced its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 17.9% during the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 447,510 shares of the company's stock after selling 97,498 shares during the period. Barclays PLC owned 0.24% of BridgeBio Pharma worth $12,280,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC increased its position in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after purchasing an additional 472 shares during the last quarter. Sterling Capital Management LLC lifted its stake in BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring an additional 1,514 shares during the last quarter. Avanza Fonder AB bought a new stake in BridgeBio Pharma in the fourth quarter worth approximately $181,000. First Bank & Trust acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth $205,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in shares of BridgeBio Pharma in the 4th quarter valued at $208,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded up $0.35 on Friday, hitting $36.31. 1,285,917 shares of the company were exchanged, compared to its average volume of 2,272,939. The company's 50 day moving average price is $33.92 and its two-hundred day moving average price is $30.42. The firm has a market capitalization of $6.89 billion, a price-to-earnings ratio of -12.74 and a beta of 1.08. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released 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 during the quarter, compared to analyst estimates of $4.04 million. Research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Ratings Changes

A number of analysts have weighed in on BBIO shares. JPMorgan Chase & Co. boosted their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. Cantor Fitzgerald restated an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Scotiabank increased their price target on BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a report on Friday, February 21st. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research note on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective for the company. Finally, HC Wainwright upped their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a report on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Moderate Buy" and a consensus target price of $53.00.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 326,932 shares of the firm's stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the transaction, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. This trade represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Andrea Ellis sold 30,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total value of $1,021,500.00. Following the sale, the director now directly owns 12,000 shares in the company, valued at $408,600. The trade was a 71.43 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,769,739 shares of company stock valued at $329,866,901 in the last 90 days. 24.66% of the stock is currently owned by company insiders.

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.