Bellevue Group AG Decreases Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Bellevue Group AG lessened its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 18.8% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also added to or reduced their stakes in the company. Frazier Life Sciences Management L.P. grew its position in shares of BridgeBio Pharma by 6.4% in the 2nd quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after buying an additional 217,000 shares during the last quarter. Ensign Peak Advisors Inc boosted its stake in BridgeBio Pharma by 44.5% in the second quarter. Ensign Peak Advisors Inc now owns 1,646,202 shares of the company’s stock valued at $41,698,000 after acquiring an additional 506,845 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in BridgeBio Pharma by 40.5% in the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after purchasing an additional 442,248 shares during the last quarter. Charles Schwab Investment Management Inc. increased its position in shares of BridgeBio Pharma by 8.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company’s stock worth $32,711,000 after purchasing an additional 95,605 shares in the last quarter. Finally, Principal Financial Group Inc. lifted its holdings in shares of BridgeBio Pharma by 1.8% during the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock valued at $29,155,000 after purchasing an additional 19,978 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $27.09 on Monday. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The company has a market capitalization of $5.12 billion, a PE ratio of -11.24 and a beta of 1.09. The company has a fifty day moving average of $25.02 and a 200 day moving average of $26.17.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the transaction, the insider now directly owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. The trade was a 18.67 % decrease in their position. 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 business’s stock in a transaction 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 of the company’s stock, valued at approximately $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. In the last quarter, insiders sold 5,831,545 shares of company stock worth $150,056,923. Insiders own 24.66% of the company’s stock.

Wall Street Analyst Weigh In

BBIO has been the topic of several recent analyst reports. JPMorgan Chase & Co. reduced their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research report on Wednesday, August 7th. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. Leerink Partners lowered their target price on shares of BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Bank of America upped their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research note on Monday, November 25th. Finally, Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price objective for the company. Two investment analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $48.43.

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.