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

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

Other hedge funds also recently modified their holdings of the company. Vanguard Group Inc. increased its position in shares of BridgeBio Pharma by 6.2% during the fourth quarter. Vanguard Group Inc. now owns 15,077,915 shares of the company's stock valued at $413,738,000 after purchasing an additional 879,059 shares during the period. Janus Henderson Group PLC boosted its stake in BridgeBio Pharma by 1.9% during the fourth quarter. Janus Henderson Group PLC now owns 4,907,533 shares of the company's stock worth $134,672,000 after buying an additional 89,521 shares in the last quarter. Farallon Capital Management LLC boosted its stake in BridgeBio Pharma by 140.1% during the fourth quarter. Farallon Capital Management LLC now owns 4,195,000 shares of the company's stock worth $115,111,000 after buying an additional 2,448,000 shares in the last quarter. Frazier Life Sciences Management L.P. increased its holdings 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 valued at $104,285,000 after buying an additional 40,000 shares during the period. Finally, Capital Research Global Investors raised its stake in shares of BridgeBio Pharma by 34.9% in the 4th quarter. Capital Research Global Investors now owns 3,526,747 shares of the company's stock valued at $96,774,000 after buying an additional 912,439 shares in the last quarter. Institutional investors own 99.85% of the company's stock.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrea Ellis sold 30,000 shares of the stock in a transaction on Tuesday, April 1st. The stock was sold at an average price of $34.05, for a total value of $1,021,500.00. Following the transaction, the director now directly owns 12,000 shares in the company, valued at approximately $408,600. This trade represents a 71.43% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the business's stock in a transaction on Monday, May 12th. The stock was sold at an average price of $34.20, for a total value of $205,200,000.00. Following the sale, the insider now owns 13,260,971 shares of the company's stock, valued at approximately $453,525,208.20. The trade was a 31.15% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 6,396,474 shares of company stock valued at $219,332,971 over the last quarter. Corporate insiders own 18.20% of the company's stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded down $0.07 during midday trading on Thursday, reaching $40.00. The company's stock had a trading volume of 3,258,892 shares, compared to its average volume of 2,511,760. The business's fifty day simple moving average is $35.80 and its 200-day simple moving average is $33.36. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $41.71. The company has a market capitalization of $7.60 billion, a P/E ratio of -11.33 and a beta of 1.10.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) 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 the consensus estimate of $57.14 million. During the same period in the prior year, the company earned ($0.20) EPS. The firm's revenue was down 44.8% compared to the same quarter last year. On average, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several brokerages have recently weighed in on BBIO. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. Piper Sandler lifted their price objective on BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. Wolfe Research initiated coverage on BridgeBio Pharma in a research note on Tuesday. They issued an "outperform" rating and a $49.00 price objective on the stock. Scotiabank upped their price objective on BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. Finally, Citigroup raised their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Two equities research analysts have rated the stock with a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $56.67.

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.