Hudson Bay Capital Management LP Invests $3.09 Million in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Hudson Bay Capital Management LP purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 112,535 shares of the company's stock, valued at approximately $3,088,000. Hudson Bay Capital Management LP owned approximately 0.06% of BridgeBio Pharma at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the stock. Vanguard Group Inc. grew its position in shares of 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 purchasing an additional 879,059 shares in the last quarter. Farallon Capital Management LLC grew its position in shares of BridgeBio Pharma by 140.1% in the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock valued at $115,111,000 after purchasing an additional 2,448,000 shares in the last quarter. Capital Research Global Investors grew its position in shares of BridgeBio Pharma by 34.9% in the fourth quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after purchasing an additional 912,439 shares in the last quarter. Ensign Peak Advisors Inc grew its position in shares of BridgeBio Pharma by 4.7% in the fourth quarter. Ensign Peak Advisors Inc now owns 1,975,249 shares of the company's stock valued at $54,201,000 after purchasing an additional 89,495 shares in the last quarter. Finally, The Manufacturers Life Insurance Company grew its position in shares of BridgeBio Pharma by 23.1% in the fourth quarter. The Manufacturers Life Insurance Company now owns 1,885,794 shares of the company's stock valued at $51,746,000 after purchasing an additional 353,570 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,148 shares of the firm's stock in a transaction dated Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the sale, the chief financial officer now owns 102,464 shares in the company, valued at $3,705,098.24. This trade represents a 3.89% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CAO Maricel Apuli sold 1,026 shares of the firm's stock in a transaction dated Friday, May 2nd. The shares were sold at an average price of $38.51, for a total transaction of $39,511.26. Following the completion of the sale, the chief accounting officer now owns 147,639 shares of the company's stock, valued at approximately $5,685,577.89. The trade was a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders sold 12,410,217 shares of company stock worth $417,634,332. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Trading Up 0.3%

Shares of BBIO traded up $0.10 during mid-day trading on Friday, hitting $33.84. 2,618,238 shares of the company's stock were exchanged, compared to its average volume of 2,435,517. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.54. The firm has a market capitalization of $6.43 billion, a P/E ratio of -11.87 and a beta of 1.15. The business's 50 day moving average is $34.40 and its two-hundred day moving average is $31.47.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. During the same quarter last year, the company posted ($0.20) EPS. BridgeBio Pharma's quarterly revenue was down 44.8% on a year-over-year basis. On average, equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Piper Sandler upped their price target on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Citigroup increased their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. UBS Group increased their price objective on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. Scotiabank increased their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, April 30th. Finally, JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Company 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.