Allostery Investments LP Makes New Investment in BridgeBio Pharma, Inc. $BBIO

Key Points

• Allostery Investments LP has invested approximately $2.77 million in BridgeBio Pharma, acquiring 80,000 shares and making it their 12th largest holding.
• BridgeBio Pharma's stock has shown significant volatility, with a price range between a 52-week low of $21.72 and a high of $52.85, and a current market capitalization of $9.56 billion.
• Despite a revenue increase of 4999.9% year-over-year, BridgeBio reported an EPS loss of ($0.95), missing analyst expectations for the quarter.

Allostery Investments LP bought a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 80,000 shares of the company's stock, valued at approximately $2,766,000. BridgeBio Pharma accounts for about 4.0% of Allostery Investments LP's investment portfolio, making the stock its 12th biggest position.

Other hedge funds have also recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its position in shares of BridgeBio Pharma by 29.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock worth $1,065,000 after purchasing an additional 6,997 shares during the last quarter. GAMMA Investing LLC boosted its stake in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after buying an additional 382 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new stake in BridgeBio Pharma during the first quarter worth $251,000. Victory Capital Management Inc. lifted its position in shares of BridgeBio Pharma by 22.8% in the first quarter. Victory Capital Management Inc. now owns 79,851 shares of the company's stock valued at $2,760,000 after acquiring an additional 14,825 shares in the last quarter. Finally, Rhumbline Advisers increased its stake in BridgeBio Pharma by 0.5% in the first quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock valued at $7,610,000 after purchasing an additional 1,008 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

NASDAQ:BBIO traded up $0.50 during mid-day trading on Monday, reaching $53.88. The stock had a trading volume of 906,648 shares, compared to its average volume of 2,973,788. The stock has a 50-day simple moving average of $47.58 and a two-hundred day simple moving average of $39.73. The stock has a market capitalization of $10.30 billion, a PE ratio of -13.16 and a beta of 1.25. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $54.04.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The business had revenue of $110.57 million for the quarter, compared to analysts' expectations of $98.46 million. The business's revenue was up 4999.9% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($0.39) earnings per share. Equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on BBIO shares. Oppenheimer increased their price target on BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Truist Financial initiated coverage on BridgeBio Pharma in a research report on Monday, July 21st. They set a "buy" rating and a $66.00 price objective for the company. Wolfe Research began coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 target price on the stock. Piper Sandler boosted their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Citigroup upped their price objective on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Seventeen investment analysts have rated the stock with a Buy rating, According to MarketBeat, the company presently has an average rating of "Buy" and an average target price of $63.35.

Insiders Place Their Bets

In other news, Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total value of $841,183.00. Following the transaction, the director owned 18,589 shares of the company's stock, valued at $910,861. This represents a 48.01% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CAO Maricel Apuli sold 1,000 shares of the stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total transaction of $45,440.00. Following the transaction, the chief accounting officer directly owned 141,859 shares in the company, valued at approximately $6,446,072.96. This represents a 0.70% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,092,912 shares of company stock worth $181,359,210 in the last ninety days. 18.20% of the stock is owned by corporate insiders.

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.