GAMMA Investing LLC Has $1.10 Million Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

GAMMA Investing LLC raised its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 5,811.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,804 shares of the company's stock after buying an additional 31,266 shares during the quarter. GAMMA Investing LLC's holdings in BridgeBio Pharma were worth $1,099,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Rhumbline Advisers grew its stake in shares of BridgeBio Pharma by 2.3% in the 4th quarter. Rhumbline Advisers now owns 219,120 shares of the company's stock valued at $6,013,000 after purchasing an additional 5,007 shares during the period. State of New Jersey Common Pension Fund D grew its position in BridgeBio Pharma by 21.6% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 93,131 shares of the company's stock valued at $2,556,000 after acquiring an additional 16,545 shares during the period. Handelsbanken Fonder AB raised its stake in BridgeBio Pharma by 16.6% during the fourth quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company's stock worth $1,041,000 after acquiring an additional 5,400 shares in the last quarter. First Bank & Trust bought a new position in shares of BridgeBio Pharma during the fourth quarter valued at $205,000. Finally, Y Intercept Hong Kong Ltd boosted its stake in shares of BridgeBio Pharma by 95.6% in the 4th quarter. Y Intercept Hong Kong Ltd now owns 25,980 shares of the company's stock valued at $713,000 after purchasing an additional 12,701 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Trading Up 3.4%

Shares of NASDAQ:BBIO traded up $1.36 during midday trading on Monday, hitting $41.14. The company had a trading volume of 2,864,189 shares, compared to its average volume of 2,495,577. The firm has a fifty day simple moving average of $35.29 and a 200 day simple moving average of $33.17. The stock has a market cap of $7.81 billion, a price-to-earnings ratio of -14.44 and a beta of 1.10. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $41.82.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate 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. BridgeBio Pharma's quarterly revenue was down 44.8% compared to the same quarter last year. During the same quarter in the previous year, the firm posted ($0.20) earnings per share. Equities analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other news, CAO Maricel Apuli sold 1,026 shares of the business's stock in a transaction on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total value of $39,511.26. Following the completion of the transaction, the chief accounting officer now owns 147,639 shares of the company's stock, valued at $5,685,577.89. The trade was a 0.69% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Hannah Valantine sold 4,292 shares of the company'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 now owns 1,764 shares of the company's stock, valued at approximately $70,560. This represents a 70.87% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 6,396,474 shares of company stock worth $219,332,971. 18.20% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

BBIO has been the topic of several research analyst reports. UBS Group increased their target price on BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. Scotiabank boosted their target price on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the stock a "sector outperform" rating in a research note on Wednesday, April 30th. Citigroup increased their price target on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research note on Friday, February 21st. HC Wainwright boosted their price objective on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a research report on Monday, June 9th. Finally, Cantor Fitzgerald reaffirmed an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Two investment analysts have rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has a consensus rating of "Moderate Buy" and an average target price of $57.36.

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.