BIT Capital GmbH Purchases 282,731 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Key Points

• BIT Capital GmbH increased its stake in BridgeBio Pharma by 102.8%, acquiring an additional 282,731 shares, which now accounts for 1.7% of its investment portfolio.
• BridgeBio Pharma's stock currently has a market capitalization of $8.99 billion, with a 12-month price range of $21.72 to $48.68.
• Out of recent ratings, Jefferies Financial Group set a $70.00 price target on BridgeBio Pharma, while the consensus rating remains a "Moderate Buy" with an average target price of $61.18.

BIT Capital GmbH boosted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 102.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 557,646 shares of the company's stock after purchasing an additional 282,731 shares during the period. BridgeBio Pharma comprises about 1.7% of BIT Capital GmbH's investment portfolio, making the stock its 15th biggest position. BIT Capital GmbH owned 0.29% of BridgeBio Pharma worth $19,278,000 at the end of the most recent reporting period.

Several other institutional investors have also recently added to or reduced their stakes in BBIO. GAMMA Investing LLC lifted its holdings in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares during the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma in the fourth quarter worth about $41,000. Sterling Capital Management LLC raised 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 during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of BridgeBio Pharma in the fourth quarter worth about $109,000. Finally, CWM LLC raised its stake in shares of BridgeBio Pharma by 12.8% in the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after acquiring an additional 598 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Trading Up 0.2%

Shares of BBIO opened at $47.37 on Friday. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $48.68. The firm has a fifty day simple moving average of $42.30 and a 200 day simple moving average of $37.06. The stock has a market capitalization of $8.99 billion, a price-to-earnings ratio of -13.42 and a beta of 1.23.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a research note on Monday, July 14th. They set a "buy" rating and a $70.00 price target for the company. Wall Street Zen downgraded shares of BridgeBio Pharma from a "hold" rating to a "sell" rating in a research note on Saturday, July 26th. Citigroup upped their target price on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the company a "buy" rating in a research note on Friday, July 11th. Wolfe Research began coverage on shares of BridgeBio Pharma in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 target price for the company. Finally, Raymond James Financial began coverage on shares of BridgeBio Pharma in a research report on Wednesday. They set an "outperform" rating and a $56.00 price objective for the company. One investment analyst has rated the stock with a sell rating and seventeen have issued a buy rating to the company's stock. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average target price of $61.18.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction dated Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the completion of the sale, the insider owned 13,260,971 shares in the company, valued at approximately $453,525,208.20. This trade represents a 31.15% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the firm's stock in a transaction dated Friday, June 27th. The stock was sold at an average price of $44.00, for a total transaction of $154,000,000.00. Following the sale, the insider owned 18,555,375 shares of the company's stock, valued at approximately $816,436,500. This represents a 15.87% decrease in their position. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 9,750,155 shares of company stock valued at $369,080,403. 18.20% of the stock is owned by company 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.

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