Brevan Howard Capital Management LP Sells 9,722 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Brevan Howard Capital Management LP lessened its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 39.7% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 14,760 shares of the company's stock after selling 9,722 shares during the period. Brevan Howard Capital Management LP's holdings in BridgeBio Pharma were worth $405,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Ironwood Investment Management LLC boosted its position in shares of BridgeBio Pharma by 0.5% during the fourth quarter. Ironwood Investment Management LLC now owns 63,157 shares of the company's stock worth $1,733,000 after purchasing an additional 338 shares in the last quarter. Summit Investment Advisors Inc. increased its holdings in shares of BridgeBio Pharma by 3.3% in the fourth quarter. Summit Investment Advisors Inc. now owns 14,706 shares of the company's stock worth $404,000 after acquiring an additional 466 shares in the last quarter. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after acquiring an additional 472 shares in the last quarter. Xponance Inc. increased its holdings in shares of BridgeBio Pharma by 9.1% in the fourth quarter. Xponance Inc. now owns 10,089 shares of the company's stock worth $277,000 after acquiring an additional 844 shares in the last quarter. Finally, Tocqueville Asset Management L.P. increased its holdings in shares of BridgeBio Pharma by 7.2% in the fourth quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company's stock worth $521,000 after acquiring an additional 1,275 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, CFO Brian C. Stephenson sold 4,148 shares of the stock in a transaction that occurred on Wednesday, February 19th. The stock was 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 of the company's stock, valued at approximately $3,705,098.24. This represents a 3.89% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This trade represents a 23.75% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 12,410,217 shares of company stock valued at $417,634,332. 18.20% of the stock is owned by insiders.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded up $0.40 during trading hours on Wednesday, reaching $33.66. 3,140,534 shares of the stock were exchanged, compared to its average volume of 2,431,709. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.54. The firm has a 50 day moving average of $34.31 and a 200 day moving average of $31.39. The stock has a market cap of $6.39 billion, a PE ratio of -11.81 and a beta of 1.15.

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 for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. The company's revenue was down 44.8% compared to the same quarter last year. During the same period last year, the company earned ($0.20) EPS. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analysts Set New Price Targets

BBIO has been the subject of several research analyst reports. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, March 24th. Scotiabank boosted their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Piper Sandler boosted their price objective 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 boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and a consensus price target 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.