Deep Track Capital LP Makes New $22.48 Million Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Deep Track Capital LP purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm purchased 819,162 shares of the company's stock, valued at approximately $22,478,000. Deep Track Capital LP owned 0.43% of BridgeBio Pharma at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Ironwood Investment Management LLC raised its holdings 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 valued at $1,733,000 after acquiring an additional 338 shares during the last quarter. Summit Investment Advisors Inc. lifted its stake in BridgeBio Pharma by 3.3% during the 4th 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 boosted its position 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 buying an additional 472 shares during the period. Xponance Inc. lifted its stake in 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 during the last quarter. Finally, Tocqueville Asset Management L.P. boosted its holdings in BridgeBio Pharma by 7.2% in the fourth quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company's stock valued at $521,000 after purchasing an additional 1,275 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on BBIO. HC Wainwright increased their price objective on BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Scotiabank increased their price target on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a report on Wednesday, April 30th. UBS Group raised their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research note on Wednesday, April 30th. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. lifted their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a research report on Monday, March 24th. One analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat.com, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus price target of $57.09.

BridgeBio Pharma Stock Performance

BBIO stock traded up $1.77 on Monday, reaching $35.94. The company had a trading volume of 1,024,588 shares, compared to its average volume of 2,396,289. The company's fifty day moving average is $34.27 and its 200 day moving average is $31.30. The company has a market cap of $6.82 billion, a P/E ratio of -12.60 and a beta of 1.15. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating analysts' consensus estimates of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analyst estimates of $57.14 million. During the same period in the prior year, the firm earned ($0.20) EPS. The business's quarterly revenue was down 44.8% on a year-over-year basis. On average, sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 31,543 shares of the business's stock in a transaction that occurred on Wednesday, February 19th. The shares were sold at an average price of $36.14, for a total value of $1,139,964.02. Following the completion of the sale, the chief executive officer now directly owns 211,718 shares in the company, valued at approximately $7,651,488.52. The trade was a 12.97% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total transaction of $39,511.26. Following the transaction, the chief accounting officer now directly owns 147,639 shares in the company, valued at approximately $5,685,577.89. This represents a 0.69% decrease in their position. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 6,410,217 shares of company stock worth $212,434,332. 24.66% of the stock is owned by company 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.