Duquesne Family Office LLC Takes $15.14 Million Position in BridgeBio Pharma, Inc. $BBIO

Key Points

• Duquesne Family Office LLC purchased 438,050 shares of BridgeBio Pharma, valued at approximately $15,143,000, increasing its stake to 0.23% as of the latest SEC filings.
• BridgeBio Pharma's stock increased by 3.7%, with a current market cap of $9.91 billion and a price-to-earnings ratio of -12.67.
• CEO Neil Kumar and Director Charles J. Homcy recently sold a total of 290,000 shares, indicating significant insider transactions as the company faces mixed earnings results.

Duquesne Family Office LLC bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 438,050 shares of the company's stock, valued at approximately $15,143,000. Duquesne Family Office LLC owned about 0.23% of BridgeBio Pharma as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Cambridge Investment Research Advisors Inc. boosted its holdings in BridgeBio Pharma by 29.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company's stock worth $1,065,000 after buying an additional 6,997 shares during the period. GAMMA Investing LLC lifted its stake in shares of 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 last quarter. Allspring Global Investments Holdings LLC purchased a new position in shares of BridgeBio Pharma in the first quarter worth $251,000. Victory Capital Management Inc. increased its stake in shares of BridgeBio Pharma by 22.8% during the first quarter. Victory Capital Management Inc. now owns 79,851 shares of the company's stock valued at $2,760,000 after buying an additional 14,825 shares during the period. Finally, Rhumbline Advisers grew its stake in BridgeBio Pharma by 0.5% in the first quarter. Rhumbline Advisers now owns 220,128 shares of the company's stock worth $7,610,000 after purchasing an additional 1,008 shares during the period. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of the business's stock in a transaction dated Thursday, September 4th. The shares were sold at an average price of $51.34, for a total transaction of $2,053,600.00. Following the completion of the sale, the chief executive officer owned 895,686 shares of the company's stock, valued at $45,984,519.24. This represents a 4.27% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Frank Mccormick sold 74,000 shares of the company's stock in a transaction dated Friday, September 5th. The stock was sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the transaction, the director owned 83,275 shares of the company's stock, valued at $4,426,899. This represents a 47.05% decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 4,202,620 shares of company stock valued at $187,174,970. Company insiders own 18.20% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BBIO shares. Piper Sandler boosted their price objective on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Jefferies Financial Group began coverage on BridgeBio Pharma in a research report on Monday, July 14th. They issued a "buy" rating and a $70.00 target price for the company. Scotiabank boosted their target price on BridgeBio Pharma from $55.00 to $57.00 and gave the stock a "sector outperform" rating in a research report on Wednesday, August 6th. Bank of America boosted their target price on BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Raymond James Financial began coverage on shares of BridgeBio Pharma in a report on Wednesday, July 30th. They set an "outperform" rating and a $56.00 price objective for the company. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat, the stock presently has an average rating of "Buy" and a consensus target price of $63.35.

BridgeBio Pharma Stock Down 1.9%

Shares of BridgeBio Pharma stock traded down $1.05 during trading on Tuesday, reaching $53.24. The company's stock had a trading volume of 1,010,276 shares, compared to its average volume of 2,968,984. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $54.60. The company has a market capitalization of $10.18 billion, a P/E ratio of -13.02 and a beta of 1.25. The business has a 50 day moving average price of $47.80 and a 200-day moving average price of $39.86.

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