BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC

UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 36.5% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 609,588 shares of the company's stock after selling 350,677 shares during the quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC owned 0.32% of BridgeBio Pharma worth $16,727,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Steward Partners Investment Advisory LLC lifted its position in shares of BridgeBio Pharma by 85.8% during 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. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma during the 4th quarter worth $41,000. Sterling Capital Management LLC boosted its position in shares of BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after purchasing an additional 1,514 shares during the last quarter. First Bank & Trust bought a new position in shares of BridgeBio Pharma in the 4th quarter worth $205,000. Finally, Legato Capital Management LLC acquired a new stake in BridgeBio Pharma during the 4th quarter worth $210,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction that occurred 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 sale, the insider now owns 19,260,971 shares of the company's stock, valued at approximately $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 Securities & Exchange Commission, which can be accessed through this link. Also, CAO Maricel Apuli sold 1,026 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the transaction, the chief accounting officer now directly owns 147,639 shares in the company, valued at $5,685,577.89. This represents a 0.69% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 12,392,182 shares of company stock valued at $416,921,291 over the last 90 days. 18.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on BBIO shares. Redburn Atlantic began coverage on BridgeBio Pharma in a report on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective for the company. Citigroup lifted their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. Finally, JPMorgan Chase & Co. upped their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, March 24th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $57.09.

BridgeBio Pharma Stock Up 3.1%

Shares of NASDAQ BBIO traded up $1.02 during trading hours on Friday, hitting $34.39. 2,965,050 shares of the stock were exchanged, compared to its average volume of 2,450,583. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.54. The company has a market cap of $6.53 billion, a PE ratio of -12.07 and a beta of 1.15. The firm has a fifty day moving average price of $34.30 and a 200-day moving average price of $32.09.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analysts' expectations of $57.14 million. The business's quarterly revenue was down 44.8% on a year-over-year basis. During the same period last year, the company posted ($0.20) earnings per share. As a group, equities analysts anticipate 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.