Caas Capital Management LP Acquires New Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Caas Capital Management LP bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm bought 8,600 shares of the company's stock, valued at approximately $297,000.

Several other institutional investors have also recently bought and sold shares of BBIO. Vanguard Group Inc. grew its position in BridgeBio Pharma by 6.2% in the 4th quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock worth $413,738,000 after purchasing an additional 879,059 shares during the last quarter. Janus Henderson Group PLC grew its position in BridgeBio Pharma by 1.9% in the 4th quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after purchasing an additional 89,521 shares during the last quarter. Farallon Capital Management LLC grew its position in BridgeBio Pharma by 140.1% in the 4th quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after purchasing an additional 2,448,000 shares during the last quarter. Frazier Life Sciences Management L.P. grew its position in BridgeBio Pharma by 1.1% in the 4th quarter. Frazier Life Sciences Management L.P. now owns 3,800,457 shares of the company's stock worth $104,285,000 after purchasing an additional 40,000 shares during the last quarter. Finally, Capital Research Global Investors grew its position in BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock worth $96,774,000 after purchasing an additional 912,439 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

Insider Activity at BridgeBio Pharma

In other news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the company's stock in a transaction that occurred on 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 transaction, the insider directly owned 13,260,971 shares in the company, valued at approximately $453,525,208.20. This represents a 31.15% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Andrew Lo sold 100,000 shares of the company's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.50, for a total transaction of $3,850,000.00. Following the transaction, the director owned 105,583 shares in the company, valued at $4,064,945.50. The trade was a 48.64% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 9,926,181 shares of company stock valued at $375,528,164 in the last three months. 18.20% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on BBIO shares. Citigroup lifted their target price on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the company a "buy" rating in a research report on Friday. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a research report on Monday. They set a "buy" rating and a $70.00 target price on the stock. Bank of America lifted their target price on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. UBS Group lifted their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Finally, HC Wainwright lifted their target price on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a research report on Monday, June 9th. One research analyst has rated the stock with a hold rating and fifteen have given a buy rating to the company's stock. Based on data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $61.20.

BridgeBio Pharma Price Performance

Shares of BBIO stock traded up $1.22 during trading hours on Monday, reaching $47.69. 3,861,065 shares of the company were exchanged, compared to its average volume of 2,543,668. BridgeBio Pharma, Inc. has a fifty-two week low of $21.72 and a fifty-two week high of $48.68. The stock's fifty day moving average is $38.69 and its two-hundred day moving average is $35.35. The company has a market cap of $9.06 billion, a price-to-earnings ratio of -13.51 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping analysts' consensus estimates of ($1.00) by $0.12. The company had revenue of $36.74 million for the quarter, compared to analyst estimates of $57.14 million. During the same quarter in the previous year, the company posted ($0.20) earnings per share. BridgeBio Pharma's revenue for the quarter was down 44.8% on a year-over-year basis. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

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.