Cinctive Capital Management LP Purchases New Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Cinctive Capital Management LP purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 114,202 shares of the company's stock, valued at approximately $3,134,000. Cinctive Capital Management LP owned approximately 0.06% of BridgeBio Pharma as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Polar Asset Management Partners Inc. acquired a new stake in BridgeBio Pharma in the third quarter valued at approximately $1,286,000. Janus Henderson Group PLC lifted its holdings in shares of BridgeBio Pharma by 11.7% during the 3rd quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company's stock valued at $122,658,000 after purchasing an additional 505,481 shares during the last quarter. Principal Financial Group Inc. boosted its position in shares of BridgeBio Pharma by 1.8% in the 3rd quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company's stock worth $29,155,000 after purchasing an additional 19,978 shares in the last quarter. Charles Schwab Investment Management Inc. grew its stake in BridgeBio Pharma by 8.0% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 1,284,802 shares of the company's stock worth $32,711,000 after buying an additional 95,605 shares during the last quarter. Finally, Melqart Asset Management UK Ltd increased its position in BridgeBio Pharma by 31.0% during the 3rd quarter. Melqart Asset Management UK Ltd now owns 403,485 shares of the company's stock valued at $10,273,000 after buying an additional 95,574 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

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Analyst Upgrades and Downgrades

BBIO has been the subject of several recent analyst reports. JPMorgan Chase & Co. raised their price target on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a report on Monday, March 24th. Scotiabank boosted their target price on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the stock a "sector outperform" rating in a research report on Friday, February 21st. Citigroup raised their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Evercore ISI raised their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an "outperform" rating in a research note on Monday, December 23rd. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus target price of $52.64.

BridgeBio Pharma Trading Up 2.7 %

Shares of NASDAQ BBIO traded up $0.82 during trading on Tuesday, reaching $31.49. 1,214,876 shares of the company traded hands, compared to its average volume of 2,226,171. The stock has a market cap of $5.99 billion, a P/E ratio of -11.08 and a beta of 1.08. The firm's fifty day simple moving average is $33.89 and its 200 day simple moving average is $29.57. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million during the quarter, compared to analysts' expectations of $4.04 million. As a group, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,148 shares of the firm's stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total transaction of $149,991.68. Following the sale, the chief financial officer now owns 102,464 shares in the company, valued at approximately $3,705,098.24. This trade represents a 3.89 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Andrea Ellis sold 30,000 shares of BridgeBio Pharma stock in a transaction on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the completion of the transaction, the director now directly owns 12,000 shares of the company's stock, valued at $408,600. The trade was a 71.43 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 9,684,739 shares of company stock valued at $326,958,651 in the last 90 days. 24.66% of the stock is currently owned by company insiders.

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.