Bosun Asset Management LLC Takes $412,000 Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• Bosun Asset Management LLC acquired a new stake in BridgeBio Pharma, purchasing 11,904 shares valued at approximately $412,000 during the first quarter.
• Institutional investors control 99.85% of BridgeBio Pharma's stock, with several firms like Raymond James and AQR Capital Management increasing their positions recently.
• Research analysts have a consensus "Buy" rating on BridgeBio Pharma, with an average price target of $63.35, while the stock currently trades at around $51.83.

Bosun Asset Management LLC bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 11,904 shares of the company's stock, valued at approximately $412,000.

A number of other institutional investors also recently bought and sold shares of the company. Raymond James Financial Inc. bought a new stake in shares of BridgeBio Pharma in the 4th quarter valued at approximately $456,000. Northern Trust Corp grew its stake in shares of BridgeBio Pharma by 3.4% in the fourth quarter. Northern Trust Corp now owns 1,323,258 shares of the company's stock worth $36,310,000 after acquiring an additional 43,955 shares during the last quarter. AQR Capital Management LLC increased its holdings in shares of BridgeBio Pharma by 14.1% during the fourth quarter. AQR Capital Management LLC now owns 223,573 shares of the company's stock worth $6,135,000 after buying an additional 27,610 shares in the last quarter. Comerica Bank lifted its holdings in BridgeBio Pharma by 131.4% in the fourth quarter. Comerica Bank now owns 106,116 shares of the company's stock valued at $2,912,000 after buying an additional 60,256 shares during the period. Finally, Cary Street Partners Financial LLC acquired a new stake in shares of BridgeBio Pharma in the fourth quarter valued at approximately $531,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have recently commented on BBIO shares. Citigroup increased their target price on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. JPMorgan Chase & Co. upped their price objective on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the stock an "overweight" rating in a report on Wednesday, September 3rd. Bank of America upped their price objective on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Wolfe Research initiated coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 target price on the stock. Seventeen research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the stock currently has an average rating of "Buy" and a consensus target price of $63.35.

BridgeBio Pharma Stock Down 1.1%

Shares of NASDAQ:BBIO traded down $0.58 on Wednesday, reaching $52.93. The company had a trading volume of 465,181 shares, compared to its average volume of 2,960,095. The stock has a market capitalization of $10.12 billion, a P/E ratio of -12.95 and a beta of 1.25. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $54.60. The stock has a 50-day moving average price of $48.01 and a 200 day moving average price of $39.95.

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

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Frank Mccormick sold 74,000 shares of the business's stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $53.16, for a total value of $3,933,840.00. Following the completion of the transaction, the director owned 83,275 shares of the company's stock, valued at $4,426,899. The trade was a 47.05% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Charles J. Homcy sold 50,000 shares of the firm's stock in a transaction that occurred on Monday, August 11th. The stock was sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the completion of the transaction, the director owned 916,674 shares in the company, valued at $44,000,352. This represents a 5.17% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,202,620 shares of company stock worth $187,174,970. 18.20% of the stock is owned by insiders.

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.