New insider activity at BridgeBio Pharma ( (BBIO) ) has taken place on March 8, 2025.
Significant shareholder KKR Genetic Disorder L.P. has made a notable transaction by selling 6,000,000 shares of BridgeBio Pharma stock. This substantial sale is valued at $197,760,000, marking a significant movement in the company’s stock holdings.
Recent Updates on BBIO stock
In the last 24 hours, BridgeBio Pharma has seen significant developments impacting its stock price and market perception. The company issued $575 million in 1.75% Convertible Senior Notes due 2031, using the proceeds to repay outstanding borrowings and repurchase shares, which aims to strengthen its financial position and reduce interest expenses. This move was seen as strategic, although concerns remain about the company’s over $1 billion debt. Analysts have responded positively to BridgeBio’s recent earnings and strategic initiatives, with Scotiabank raising the price target due to the strong commercial momentum of Attruby, a drug for transthyretin amyloid cardiomyopathy, reflecting its robust clinical profile. BofA also raised its price target, citing the updated cash position post the convertible notes issuance, although it noted that the debt level might remain a concern until there’s more clarity on the company’s growth outlook.
More about BridgeBio Pharma
YTD Price Performance: 14.29%
Average Trading Volume: 2,802,931
Technical Sentiment Consensus Rating: Sell
Current Market Cap: $6.65B
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