BridgeBio Pharma, Inc. (NASDAQ:BBIO) Position Trimmed by Lion Point Capital LP

Lion Point Capital LP reduced its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 17.8% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 40,300 shares of the company's stock after selling 8,700 shares during the quarter. BridgeBio Pharma comprises about 5.8% of Lion Point Capital LP's portfolio, making the stock its 6th biggest position. Lion Point Capital LP's holdings in BridgeBio Pharma were worth $1,106,000 at the end of the most recent reporting period.

Other institutional investors have also added to or reduced their stakes in the company. Steward Partners Investment Advisory LLC boosted its holdings in BridgeBio Pharma by 85.8% during the 4th 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 during the last quarter. Itau Unibanco Holding S.A. bought a new stake in BridgeBio Pharma in the 4th quarter worth about $41,000. Sterling Capital Management LLC increased its stake in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after buying an additional 1,514 shares during the last quarter. Avanza Fonder AB bought a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $181,000. Finally, First Bank & Trust purchased a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $205,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Up 0.2%

Shares of BridgeBio Pharma stock traded up $0.08 during trading on Thursday, hitting $33.74. 2,194,463 shares of the stock traded hands, compared to its average volume of 2,430,783. The stock has a market cap of $6.41 billion, a price-to-earnings ratio of -11.84 and a beta of 1.15. BridgeBio Pharma, Inc. has a 52 week low of $21.62 and a 52 week high of $39.54. The firm's fifty day moving average is $34.35 and its 200-day moving average is $31.41.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) EPS 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 analysts' expectations 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 business posted ($0.20) earnings per share. On average, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on BBIO shares. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a report on Monday, March 31st. They set a "buy" rating and a $50.00 price objective for the company. Citigroup lifted 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. Piper Sandler raised their target price on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a research report on Wednesday, April 30th. Scotiabank upped their price target 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. Finally, Cantor Fitzgerald reiterated an "overweight" rating and issued a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $57.09.

Insider Activity

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction that occurred on Monday, May 12th. The stock was sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the sale, the insider now owns 13,260,971 shares in the company, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrew Lo sold 100,000 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.50, for a total value of $3,850,000.00. Following the transaction, the director now directly owns 105,583 shares in the company, valued at $4,064,945.50. This trade represents a 48.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 12,410,217 shares of company stock valued at $417,634,332. Insiders own 18.20% 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.