Victory Capital Management Inc. Sells 5,535 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Victory Capital Management Inc. cut its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 377,182 shares of the company’s stock after selling 5,535 shares during the period. Victory Capital Management Inc. owned about 0.20% of BridgeBio Pharma worth $9,603,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Profund Advisors LLC grew 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 valued at $1,293,000 after buying an additional 555 shares during the last quarter. American International Group Inc. lifted its holdings in shares of BridgeBio Pharma by 1.0% in the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after acquiring an additional 565 shares during the last quarter. Bfsg LLC raised its position 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 purchasing an additional 790 shares during the period. Allspring Global Investments Holdings LLC increased its position in shares of BridgeBio Pharma by 17.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after acquiring an additional 801 shares during the period. Finally, Amalgamated Bank increased its position in shares of BridgeBio Pharma by 24.7% during the second quarter. Amalgamated Bank now owns 4,863 shares of the company’s stock worth $123,000 after acquiring an additional 962 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 0.9 %

Shares of BridgeBio Pharma stock opened at $23.24 on Friday. The company has a market cap of $4.39 billion, a price-to-earnings ratio of -9.64 and a beta of 1.09. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The company’s fifty day simple moving average is $25.01 and its 200-day simple moving average is $26.29.

Analyst Ratings Changes

Several brokerages recently issued reports on BBIO. Scotiabank raised their target price on shares of BridgeBio Pharma from $44.00 to $45.00 and gave the stock a “sector outperform” rating in a report on Friday, November 15th. Oppenheimer initiated coverage on shares of BridgeBio Pharma in a report on Thursday, October 3rd. They issued a “market perform” rating on the stock. HC Wainwright reissued a “buy” rating and issued a $43.00 price target on shares of BridgeBio Pharma in a research note on Friday, October 25th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Finally, Evercore ISI decreased their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research note on Wednesday, August 7th. Two analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $47.57.

Insider Buying and Selling at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the sale, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. This represents a 18.67 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, CEO Neil Kumar sold 27,389 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 value of $613,787.49. Following the transaction, the chief executive officer now directly owns 4,897,443 shares in the company, valued at $109,751,697.63. The trade was a 0.56 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,831,545 shares of company stock valued at $150,056,923. 24.66% of the stock is currently owned by company insiders.

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.