BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Sold by Bellevue Group AG

Bellevue Group AG cut its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 18.8% in the third quarter, HoldingsChannel.com reports. The fund owned 10,400 shares of the company’s stock after selling 2,400 shares during the period. Bellevue Group AG’s holdings in BridgeBio Pharma were worth $265,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Profund Advisors LLC increased its stake in shares of BridgeBio Pharma by 1.1% during the second quarter. Profund Advisors LLC now owns 51,029 shares of the company’s stock worth $1,293,000 after purchasing an additional 555 shares in the last quarter. Bfsg LLC boosted its holdings in BridgeBio Pharma by 175.6% in the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock worth $31,000 after buying an additional 790 shares during the last quarter. Allspring Global Investments Holdings LLC boosted its holdings in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after buying an additional 801 shares during the last quarter. Amalgamated Bank increased its stake in BridgeBio Pharma by 24.7% during the 2nd quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after buying an additional 962 shares in the last quarter. Finally, Diversified Trust Co raised its holdings in shares of BridgeBio Pharma by 3.0% during the third quarter. Diversified Trust Co now owns 36,772 shares of the company’s stock valued at $936,000 after acquiring an additional 1,059 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $93,135.96. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at $2,101,116.78. The trade was a 4.24 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total transaction of $613,787.49. Following the completion of the transaction, the chief executive officer now owns 4,897,443 shares in the company, valued at $109,751,697.63. This represents a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,831,545 shares of company stock valued at $150,056,923 in the last ninety days. Insiders own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of analysts have recently issued reports on the company. Evercore ISI lowered their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research note on Wednesday, August 7th. Scotiabank lifted their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the stock a “sector outperform” rating in a research note on Monday, November 25th. Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Bank of America raised their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. Finally, Oppenheimer initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, October 3rd. They set a “market perform” rating for the company. Two analysts have rated the stock with a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $48.43.

BridgeBio Pharma Trading Down 1.5 %

Shares of BBIO stock opened at $27.09 on Monday. The company has a market cap of $5.12 billion, a P/E ratio of -11.24 and a beta of 1.09. The firm has a fifty day moving average price of $25.02 and a 200 day moving average price of $26.17. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $44.32.

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.