Cutter Capital Management LP Acquires 163,956 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Cutter Capital Management LP increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 41.4% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 560,344 shares of the company's stock after acquiring an additional 163,956 shares during the period. BridgeBio Pharma makes up 6.3% of Cutter Capital Management LP's investment portfolio, making the stock its 6th largest position. Cutter Capital Management LP owned about 0.30% of BridgeBio Pharma worth $15,376,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently made changes to their positions in the stock. Steward Partners Investment Advisory LLC increased its holdings in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma in the 4th quarter worth $41,000. Sterling Capital Management LLC lifted its stake in shares of BridgeBio Pharma by 554.6% in the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after acquiring an additional 1,514 shares in the last quarter. Avanza Fonder AB acquired a new position in shares of BridgeBio Pharma in the 4th quarter valued at approximately $181,000. Finally, First Bank & Trust acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth approximately $205,000. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Trading Down 0.9 %

Shares of BBIO opened at $38.22 on Tuesday. The firm's fifty day simple moving average is $34.15 and its two-hundred day simple moving average is $31.00. The stock has a market capitalization of $7.26 billion, a P/E ratio of -13.41 and a beta of 1.15. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced 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 ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. During the same quarter in the previous year, the company posted ($0.20) EPS. The firm's revenue was down 44.8% on a year-over-year basis. As a group, research analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on BBIO shares. HC Wainwright raised their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research note on Tuesday, April 15th. UBS Group raised their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Citigroup boosted their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research note on Friday, February 21st. Piper Sandler increased their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research note on Wednesday, April 30th. Finally, Redburn Atlantic started coverage on BridgeBio Pharma in a research report on Monday, March 31st. They issued a "buy" rating and a $50.00 price target for the company. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $57.09.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Andrea Ellis sold 30,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, April 1st. The shares were sold at an average price of $34.05, for a total transaction of $1,021,500.00. Following the transaction, the director now owns 12,000 shares of the company's stock, valued at $408,600. This trade represents a 71.43 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Neil Kumar sold 31,543 shares of the firm's stock in a transaction dated Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the sale, the chief executive officer now owns 211,718 shares of the company's stock, valued at $7,651,488.52. This trade represents a 12.97 % decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,309,191 shares of company stock worth $208,544,821. 24.66% of the stock is owned by corporate insiders.

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.

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