Daiwa Securities Group Inc. Sells 4,000 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Daiwa Securities Group Inc. decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 11.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 31,709 shares of the company’s stock after selling 4,000 shares during the period. Daiwa Securities Group Inc.’s holdings in BridgeBio Pharma were worth $807,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Bfsg LLC raised its holdings in shares of BridgeBio Pharma by 175.6% during the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after acquiring an additional 790 shares in the last quarter. Headlands Technologies LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth $48,000. Values First Advisors Inc. purchased a new stake in shares of BridgeBio Pharma in the 3rd quarter worth about $57,000. CWM LLC boosted its stake in shares of BridgeBio Pharma by 132.9% during the 3rd quarter. CWM LLC now owns 3,442 shares of the company’s stock valued at $88,000 after purchasing an additional 1,964 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its position in shares of BridgeBio Pharma by 56.1% during the third quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after buying an additional 1,645 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have weighed in on the company. Evercore ISI cut their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a research report on Wednesday, August 7th. HC Wainwright lifted their price target on BridgeBio Pharma from $43.00 to $49.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Piper Sandler started coverage on BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective for the company. Scotiabank boosted their target price on shares of BridgeBio Pharma from $45.00 to $48.00 and gave the company a “sector outperform” rating in a report on Monday, November 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. Two equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus price target of $48.43.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $25.75, for a total value of $149,350,000.00. Following the transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at $650,470,003.25. This trade represents a 18.67 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Brian C. Stephenson sold 4,156 shares of the business’s stock in a transaction that occurred on Tuesday, November 19th. The shares were sold at an average price of $22.41, for a total value of $93,135.96. Following the transaction, the chief financial officer now owns 93,758 shares of the company’s stock, valued at approximately $2,101,116.78. This trade represents a 4.24 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,831,545 shares of company stock worth $150,056,923 in the last 90 days. 24.66% of the stock is currently owned by insiders.

BridgeBio Pharma Trading Down 1.5 %

Shares of NASDAQ BBIO opened at $27.09 on Friday. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32. The firm has a market capitalization of $5.12 billion, a price-to-earnings ratio of -11.24 and a beta of 1.09. The firm has a 50 day moving average of $25.02 and a 200 day moving average of $26.21.

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.