Driehaus Capital Management LLC Makes New $51.87 Million Investment in BridgeBio Pharma, Inc. $BBIO

Key Points

• Driehaus Capital Management LLC acquired a new stake in BridgeBio Pharma worth approximately $51.87 million, owning about 0.79% of the company's shares as of its latest SEC filing.
• BridgeBio Pharma's stock has received multiple positive ratings from analysts, including a target price increase from Piper Sandler, who raised their price target from $63 to $68 with an "overweight" rating.
• The company reported impressive revenue growth of 4999.9% year-over-year, despite missing the earnings per share consensus by $0.12, with a quarterly revenue of $110.57 million.

Driehaus Capital Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 1,500,558 shares of the company's stock, valued at approximately $51,874,000. Driehaus Capital Management LLC owned about 0.79% of BridgeBio Pharma at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. GAMMA Investing LLC grew its stake in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after acquiring an additional 382 shares during the period. Itau Unibanco Holding S.A. purchased a new stake in BridgeBio Pharma in the 4th quarter valued at about $41,000. GF Fund Management CO. LTD. purchased a new stake in BridgeBio Pharma during the fourth quarter worth about $109,000. CWM LLC increased its stake in BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after purchasing an additional 598 shares during the period. Finally, Commerce Bank purchased a new stake in BridgeBio Pharma during the first quarter worth about $209,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

A number of equities analysts recently issued reports on BBIO shares. Oppenheimer upped their price target on BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Scotiabank increased their price target on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a report on Wednesday, August 6th. JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $55.00 to $70.00 and gave the company an "overweight" rating in a report on Wednesday. Wall Street Zen raised BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, HC Wainwright raised their price target on BridgeBio Pharma from $56.00 to $70.00 and gave the company a "buy" rating in a research report on Friday, August 29th. Seventeen research analysts have rated the stock with a Buy rating, Based on data from MarketBeat.com, the company currently has an average rating of "Buy" and an average target price of $63.35.

Insider Activity at BridgeBio Pharma

In related news, Director Charles J. Homcy sold 50,000 shares of the company's stock in a transaction 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 transaction, the director directly owned 916,674 shares of the company's stock, valued at approximately $44,000,352. The trade was a 5.17% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maricel Apuli sold 1,000 shares of the company's stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $45.44, for a total value of $45,440.00. Following the completion of the transaction, the chief accounting officer directly owned 141,859 shares in the company, valued at approximately $6,446,072.96. The trade was a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,092,912 shares of company stock valued at $181,359,210 over the last ninety days. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO traded up $1.39 during trading on Wednesday, reaching $51.39. The stock had a trading volume of 1,272,071 shares, compared to its average volume of 2,977,797. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $52.85. The stock has a market cap of $9.82 billion, a PE ratio of -12.60 and a beta of 1.25. The firm's 50 day moving average price is $47.12 and its two-hundred day moving average price is $39.36.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The company had revenue of $110.57 million during the quarter, compared to analyst estimates of $98.46 million. During the same period in the prior year, the company earned ($0.39) EPS. BridgeBio Pharma's revenue for the quarter was up 4999.9% on a year-over-year basis. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share 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.