BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stake Trimmed by Prosight Management LP

Prosight Management LP trimmed its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 8.4% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 995,000 shares of the company's stock after selling 91,810 shares during the period. BridgeBio Pharma accounts for approximately 7.5% of Prosight Management LP's portfolio, making the stock its 3rd largest position. Prosight Management LP owned about 0.53% of BridgeBio Pharma worth $27,303,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $41,000. Sterling Capital Management LLC boosted its position in shares of BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after buying an additional 1,514 shares during the period. Avanza Fonder AB purchased a new position in shares of BridgeBio Pharma during the 4th quarter valued at approximately $181,000. Finally, First Bank & Trust bought a new stake in BridgeBio Pharma during the fourth quarter valued at $205,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the sale, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. The trade was a 23.75% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 31,543 shares of the firm's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total value of $1,139,964.02. Following the completion of the sale, the chief executive officer now directly owns 211,718 shares of the company's stock, valued at $7,651,488.52. The trade was a 12.97% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 12,410,217 shares of company stock valued at $417,634,332. 18.20% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a research report on Friday, February 21st. Citigroup boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Scotiabank upped their price target on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Redburn Atlantic began coverage on BridgeBio Pharma in a research note on Monday, March 31st. They set a "buy" rating and a $50.00 price target for the company. Finally, HC Wainwright upped their price target on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.09.

BridgeBio Pharma Price Performance

Shares of BBIO traded down $0.10 during trading hours on Tuesday, hitting $33.59. The company's stock had a trading volume of 688,016 shares, compared to its average volume of 3,099,964. The company has a market cap of $6.38 billion, a price-to-earnings ratio of -11.78 and a beta of 1.15. The business has a 50 day simple moving average of $34.45 and a two-hundred day simple moving average of $31.70. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $39.54.

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

About BridgeBio Pharma

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.