Syon Capital LLC Acquires New Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Syon Capital LLC bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 13,200 shares of the company's stock, valued at approximately $362,000.

Other hedge funds have also modified their holdings of the company. Norges Bank acquired a new position in shares of BridgeBio Pharma during the 4th quarter valued at $29,237,000. Capital Research Global Investors grew its holdings in BridgeBio Pharma by 34.9% during the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after acquiring an additional 912,439 shares in the last quarter. Vanguard Group Inc. increased its holdings in BridgeBio Pharma by 6.2% in the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after buying an additional 879,059 shares during the last quarter. Price T Rowe Associates Inc. MD increased its holdings in shares of BridgeBio Pharma by 22.3% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 991,238 shares of the company's stock valued at $27,200,000 after acquiring an additional 180,773 shares during the last quarter. Finally, Exome Asset Management LLC raised its holdings in shares of BridgeBio Pharma by 167.4% during the third quarter. Exome Asset Management LLC now owns 211,000 shares of the company's stock worth $5,372,000 after purchasing an additional 132,093 shares during the period. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock traded up $0.53 during trading on Tuesday, hitting $36.42. 4,459,032 shares of the stock traded hands, compared to its average volume of 2,290,532. The stock has a market cap of $6.91 billion, a P/E ratio of -12.78 and a beta of 1.08. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $40.88. The company has a fifty day moving average price of $33.91 and a two-hundred day moving average price of $30.57.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.90) by $0.02. During the same period in the prior year, the company posted ($0.20) EPS. The business's quarterly revenue was down 44.8% on a year-over-year basis. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the company. 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. Redburn Atlantic initiated coverage on BridgeBio Pharma in a report on Monday, March 31st. They set a "buy" rating and a $50.00 target price on the stock. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Citigroup lifted their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. Finally, HC Wainwright raised their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average price target of $53.00.

Insiders Place Their Bets

In other BridgeBio Pharma news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of BridgeBio Pharma stock in a transaction on Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the sale, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. The trade was a 12.20 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 75,000 shares of the company's stock in a transaction dated Tuesday, March 25th. The shares were sold at an average price of $36.87, for a total transaction of $2,765,250.00. Following the completion of the sale, the chief executive officer now directly owns 4,948,447 shares in the company, valued at approximately $182,449,240.89. The trade was a 1.49 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,374,807 shares of company stock valued at $315,534,819 in the last quarter. Insiders own 24.66% of the company's stock.

BridgeBio Pharma Profile

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.