Farallon Capital Management LLC Boosts Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Farallon Capital Management LLC grew its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 140.1% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 4,195,000 shares of the company's stock after purchasing an additional 2,448,000 shares during the quarter. Farallon Capital Management LLC owned about 2.22% of BridgeBio Pharma worth $115,111,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Ironwood Investment Management LLC grew its holdings in BridgeBio Pharma by 0.5% in 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 during the last quarter. Summit Investment Advisors Inc. grew its holdings in 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 purchasing an additional 466 shares during the last quarter. Steward Partners Investment Advisory LLC grew its holdings in 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 purchasing an additional 472 shares during the last quarter. Xponance Inc. grew its holdings 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 purchasing an additional 844 shares during the last quarter. Finally, Tocqueville Asset Management L.P. grew 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 worth $521,000 after purchasing an additional 1,275 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

BBIO has been the topic of a number of research analyst reports. Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Citigroup boosted their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the company an "overweight" rating in a report on Monday, March 24th. UBS Group boosted their price objective on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Finally, HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. One equities research analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. According to MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus target price of $57.09.

BridgeBio Pharma Trading Down 2.0%

Shares of BridgeBio Pharma stock traded down $0.68 during trading hours on Friday, reaching $34.17. The stock had a trading volume of 1,787,926 shares, compared to its average volume of 2,401,418. The stock's 50 day moving average is $34.27 and its 200 day moving average is $31.30. The firm has a market capitalization of $6.49 billion, a PE ratio of -11.99 and a beta of 1.15. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data 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 during the quarter, compared to analyst estimates of $57.14 million. The company's revenue was down 44.8% on a year-over-year basis. During the same quarter last year, the company posted ($0.20) EPS. As a group, 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, CAO Maricel Apuli sold 1,026 shares of the company'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 transaction, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. This represents a 0.69% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Andrew Lo sold 100,000 shares of the company's stock in a transaction dated Friday, May 2nd. The stock was sold at an average price of $38.50, for a total transaction of $3,850,000.00. Following the transaction, the director now owns 105,583 shares of the company's stock, valued at approximately $4,064,945.50. This trade represents a 48.64% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,410,217 shares of company stock worth $212,434,332 in the last 90 days. Insiders own 24.66% of the company's stock.

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.