Kkr sells $197.76 million in BridgeBio Pharma stock

In a recent transaction, KKR Genetic Disorder L.P., an affiliate of KKR & Co. Inc. (NYSE:KKR), sold 6 million shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) common stock. The shares were sold at a price of $32.96 each, bringing the total value of the transaction to approximately $197.76 million. Following this sale, KKR Genetic Disorder L.P. holds 19,260,971 shares of BridgeBio Pharma.

The transaction was conducted as a block sale under Rule 144 of the Securities Act of 1933. KKR Genetic Disorder L.P. is a significant stakeholder in BridgeBio Pharma, with several entities under the KKR umbrella involved in the ownership. These include KKR Genetic Disorder GP LLC, KKR Group Partnership L.P., KKR Group Holdings Corp., KKR Group Co. Inc., and KKR & Co. Inc., among others.

The sale was executed on March 5, 2025, and the filing was made public on March 7, 2025. The transaction highlights KKR’s ongoing management of its investment portfolio, with the firm maintaining a substantial position in BridgeBio Pharma despite the sale. According to InvestingPro analysts, the stock shows significant potential upside, with price targets ranging from $36 to $95 per share. Discover more insights and 6 additional ProTips for BBIO on InvestingPro.

In other recent news, BridgeBio Pharma reported a strong commercial performance for its drug Attruby, surpassing Wall Street’s expectations with 1,028 patient prescriptions and 516 unique prescribers. The company achieved net product revenues of $2.9 million for the fourth quarter of 2024, significantly exceeding both Scotiabank (TSX:BNS)’s estimate of $0 million and the consensus estimate of $0.2 million. Meanwhile, BridgeBio announced a $500 million convertible senior notes offering, intended to refinance existing senior secured debt, which is expected to reduce interest expenses and enhance operational flexibility. Cantor Fitzgerald maintained its Overweight rating with a $95 price target on BridgeBio, citing confidence in the company’s ability to navigate Medicare drug coverage complexities. Scotiabank raised its price target on BridgeBio shares to $52, highlighting the rapid adoption of Attruby as a first-line treatment for transthyretin amyloid cardiomyopathy. Piper Sandler also reaffirmed its Overweight rating and $46 price target, supported by a survey indicating promising prospects for Attruby’s launch in 2025. The survey projected sales of approximately $205 million for Attruby in 2025, exceeding both Piper Sandler’s previous estimate and the consensus estimate. These developments reflect a period of strategic financial maneuvers and strong market performance for BridgeBio Pharma.

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