Bayforest Capital Ltd Acquires New Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• Bayforest Capital Ltd has acquired a new position in BridgeBio Pharma, Inc. during the second quarter, purchasing 8,552 shares valued at approximately $369,000.
• Institutional investors own 99.85% of BridgeBio Pharma's stock, with significant positions acquired by firms like Driehaus Capital Management and Invesco Ltd.
• BridgeBio Pharma recently reported quarterly earnings with a revenue increase of 4999.9% year-over-year, but missed EPS estimates, posting ($0.95) compared to expected ($0.83).

Bayforest Capital Ltd acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 8,552 shares of the company's stock, valued at approximately $369,000.

A number of other institutional investors have also recently made changes to their positions in the business. Driehaus Capital Management LLC acquired a new position in BridgeBio Pharma during the 1st quarter worth approximately $51,874,000. Invesco Ltd. grew its holdings in BridgeBio Pharma by 147.0% during the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company's stock worth $76,267,000 after acquiring an additional 1,313,036 shares in the last quarter. Duquesne Family Office LLC acquired a new position in BridgeBio Pharma during the 1st quarter worth approximately $15,143,000. Nuveen LLC acquired a new position in BridgeBio Pharma during the 1st quarter worth approximately $14,973,000. Finally, Cormorant Asset Management LP grew its holdings in BridgeBio Pharma by 25.0% during the 1st quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company's stock worth $69,140,000 after acquiring an additional 400,000 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $56.63 on Thursday. The company has a market cap of $10.83 billion, a P/E ratio of -13.85 and a beta of 1.36. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $57.49. The firm has a fifty day moving average of $51.64 and a two-hundred day moving average of $43.31.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly 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 firm had revenue of $110.57 million for the quarter, compared to analyst estimates of $98.46 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. The firm's revenue for the quarter was up 4999.9% on a year-over-year basis. As a group, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Frank Mccormick sold 74,000 shares of the company's stock in a transaction on Friday, September 5th. The shares were sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the transaction, the director directly owned 83,275 shares of the company's stock, valued at $4,426,899. This represents a 47.05% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction on Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the transaction, the chief executive officer directly owned 855,686 shares in the company, valued at approximately $46,874,479.08. This trade represents a 4.47% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 597,913 shares of company stock worth $29,034,227. Company insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on the stock. Jefferies Financial Group assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 price objective for the company. Weiss Ratings restated a "sell (d-)" rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Truist Financial assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 21st. They set a "buy" rating and a $66.00 price objective for the company. HC Wainwright restated a "buy" rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 15th. Finally, JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Seventeen analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and an average price target of $63.94.

About BridgeBio Pharma

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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