Nuveen Asset Management LLC Trims Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Nuveen Asset Management LLC lessened its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 96.8% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 402,926 shares of the company's stock after selling 12,043,010 shares during the quarter. Nuveen Asset Management LLC owned about 0.21% of BridgeBio Pharma worth $11,056,000 as of its most recent SEC filing.

Several other large investors have also recently modified their holdings of the company. Vanguard Group Inc. raised its stake in shares of BridgeBio Pharma by 6.2% during the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after acquiring an additional 879,059 shares in the last quarter. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 1.9% during the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after purchasing an additional 89,521 shares during the last quarter. Farallon Capital Management LLC grew its position in BridgeBio Pharma by 140.1% during the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after purchasing an additional 2,448,000 shares during the last quarter. Capital Research Global Investors grew its position in BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after purchasing an additional 912,439 shares during the last quarter. Finally, Ensign Peak Advisors Inc grew its position in BridgeBio Pharma by 4.7% during the 4th quarter. Ensign Peak Advisors Inc now owns 1,975,249 shares of the company's stock worth $54,201,000 after purchasing an additional 89,495 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

BBIO stock traded up $1.02 during midday trading on Friday, hitting $34.39. 2,965,050 shares of the stock traded hands, compared to its average volume of 2,454,198. The firm has a market cap of $6.53 billion, a P/E ratio of -12.07 and a beta of 1.15. The stock's fifty day simple moving average is $34.30 and its 200-day simple moving average is $32.20. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. The firm's quarterly revenue was down 44.8% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($0.20) EPS. On average, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have weighed in on BBIO. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 target price on the stock. JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. Wall Street Zen downgraded shares of BridgeBio Pharma from a "hold" rating to a "sell" rating in a research report on Friday. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, UBS Group upped their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a sell rating, one has assigned a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of "Moderate Buy" and a consensus price target of $57.09.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the transaction, the insider now directly owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. This trade represents a 23.75% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of the firm's stock in a transaction dated Tuesday, March 25th. The stock was sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the completion of the transaction, the chief executive officer now directly owns 4,948,447 shares in the company, valued at approximately $182,449,240.89. This represents a 1.49% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,392,182 shares of company stock valued at $416,921,291 over the last ninety days. Corporate insiders own 18.20% of the company's stock.

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.