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

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. GAMMA Investing LLC raised its stake in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares during the period. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at approximately $41,000. Sterling Capital Management LLC grew its holdings 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 valued at $49,000 after acquiring an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. bought a new position in shares of BridgeBio Pharma in the fourth quarter valued at approximately $109,000. Finally, CWM LLC grew its holdings in shares of BridgeBio Pharma by 12.8% in the first quarter. CWM LLC now owns 5,261 shares of the company's stock valued at $182,000 after acquiring an additional 598 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on the company. Bank of America boosted their price objective on BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen downgraded BridgeBio Pharma from a "hold" rating to a "sell" rating in a research report on Saturday, July 26th. UBS Group boosted their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. Piper Sandler boosted their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a report on Monday, July 14th. Finally, Citigroup upped their price target on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. One analyst has rated the stock with a sell rating and seventeen have given a buy rating to the stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $61.35.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Hannah Valantine sold 4,292 shares of the business's stock in a transaction on Tuesday, June 10th. The shares were sold at an average price of $40.00, for a total transaction of $171,680.00. Following the completion of the sale, the director owned 1,764 shares in the company, valued at approximately $70,560. The trade was a 70.87% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the company's stock in a transaction dated Friday, June 27th. The shares were sold at an average price of $44.00, for a total transaction of $154,000,000.00. Following the sale, the insider directly owned 18,555,375 shares in the company, valued at approximately $816,436,500. This trade represents a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 9,750,155 shares of company stock valued at $369,080,403. Insiders own 18.20% of the company's stock.

BridgeBio Pharma Trading Up 2.2%

NASDAQ:BBIO traded up $0.96 during midday trading on Thursday, reaching $45.77. The company had a trading volume of 880,484 shares, compared to its average volume of 3,055,356. The stock's fifty day simple moving average is $43.17 and its 200-day simple moving average is $37.32. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $49.77. The firm has a market capitalization of $8.69 billion, a price-to-earnings ratio of -11.19 and a beta of 1.23.

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

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.