Ghisallo Capital Management LLC lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 50.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 33,750 shares of the company's stock after selling 33,750 shares during the quarter. Ghisallo Capital Management LLC's holdings in BridgeBio Pharma were worth $855,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc acquired a new position in BridgeBio Pharma in the 4th quarter valued at $1,174,000. Campbell & CO Investment Adviser LLC increased its stake in BridgeBio Pharma by 50.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 23,071 shares of the company's stock valued at $931,000 after purchasing an additional 7,775 shares during the last quarter. The Manufacturers Life Insurance Company lifted its position in BridgeBio Pharma by 11.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 744,132 shares of the company's stock worth $30,041,000 after buying an additional 78,528 shares during the period. NEOS Investment Management LLC purchased a new position in BridgeBio Pharma during the fourth quarter worth about $739,000. Finally, Nomura Holdings Inc. boosted its stake in BridgeBio Pharma by 9.8% in the 4th quarter. Nomura Holdings Inc. now owns 257,995 shares of the company's stock worth $10,415,000 after buying an additional 22,986 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.
Wall Street Analysts Forecast Growth
A number of research analysts have recently commented on BBIO shares. Bank of America reaffirmed a "buy" rating and set a $42.00 price objective on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. JPMorgan Chase & Co. cut their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an "overweight" rating on the stock in a research note on Wednesday, August 7th. HC Wainwright restated a "buy" rating and set a $43.00 price objective on shares of BridgeBio Pharma in a report on Monday. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 16th. Finally, Evercore ISI lowered their price target on BridgeBio Pharma from $50.00 to $45.00 and set an "outperform" rating for the company in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the stock. According to MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $47.92.
Check Out Our Latest Report on BridgeBio Pharma
Insider Buying and Selling
In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm'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 completion of the sale, the insider now owns 25,260,971 shares in the company, valued at approximately $650,470,003.25. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In other news, CEO Neil Kumar sold 27,389 shares of the business's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business's stock in a transaction on Friday, September 13th. The shares were 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 of the company's stock, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,831,544 shares of company stock worth $150,128,821. 24.66% of the stock is currently owned by corporate insiders.
BridgeBio Pharma Price Performance
NASDAQ BBIO traded up $0.28 on Wednesday, reaching $25.08. The company had a trading volume of 1,661,252 shares, compared to its average volume of 1,880,517. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a 50-day moving average of $26.16 and a 200-day moving average of $26.98. The firm has a market capitalization of $4.69 billion, a PE ratio of -7.70 and a beta of 1.08.
BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. BridgeBio Pharma's revenue for the quarter was up 32.1% on a year-over-year basis. During the same period in the previous year, the business posted ($0.98) earnings per share. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -2.54 EPS for the current fiscal year.
About BridgeBio Pharma
(
Free Report)
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.
Further Reading
Before you consider BridgeBio Pharma, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and BridgeBio Pharma wasn't on the list.
While BridgeBio Pharma currently has a "Moderate Buy" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Just getting into the stock market? These 10 simple stocks can help beginning investors build long-term wealth without knowing options, technicals, or other advanced strategies.
Get This Free Report
