HBK Investments L P Invests $519,000 in BridgeBio Pharma, Inc. $BBIO

Key Points

• HBK Investments L P acquired a new stake in BridgeBio Pharma, purchasing 15,000 shares valued at approximately $519,000.
• BridgeBio Pharma has received positive ratings from multiple analysts, with a consensus "Buy" rating and an average price target of $62.18.
• Insider trading has seen significant activity, with directors selling over 4 million shares valued at approximately $181.4 million in the last 90 days.

HBK Investments L P purchased a new position in shares of 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 purchased 15,000 shares of the company's stock, valued at approximately $519,000.

Several other institutional investors and hedge funds have also modified their holdings of the business. Quarry LP purchased a new position in shares of BridgeBio Pharma during the 1st quarter worth $398,000. Baird Financial Group Inc. purchased a new position in shares of BridgeBio Pharma during the 1st quarter worth $1,429,000. Panagora Asset Management Inc. boosted its stake in shares of BridgeBio Pharma by 21.1% during the 1st quarter. Panagora Asset Management Inc. now owns 616,252 shares of the company's stock worth $21,304,000 after acquiring an additional 107,445 shares during the last quarter. Driehaus Capital Management LLC purchased a new position in shares of BridgeBio Pharma during the 1st quarter worth $51,874,000. Finally, Tema Etfs LLC boosted its stake in shares of BridgeBio Pharma by 5.0% during the 1st quarter. Tema Etfs LLC now owns 149,117 shares of the company's stock worth $5,155,000 after acquiring an additional 7,145 shares during the last quarter. Hedge funds and other institutional investors own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

BBIO has been the topic of a number of analyst reports. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 target price on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. JPMorgan Chase & Co. lifted their target price on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the company an "overweight" rating in a research note on Wednesday. Oppenheimer lifted their target price on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their target price on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the company an "overweight" rating in a research note on Monday, June 30th. Finally, Truist Financial initiated coverage on shares of BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 target price on the stock. Seventeen equities research analysts have rated the stock with a Buy rating, According to MarketBeat.com, the company has an average rating of "Buy" and a consensus target price of $63.35.

Insider Activity

In related news, Director Charles J. Homcy sold 50,000 shares of the stock in a transaction dated Monday, August 11th. The shares were sold at an average price of $48.00, for a total value of $2,400,000.00. Following the sale, the director directly owned 916,674 shares of the company's stock, valued at $44,000,352. This represents a 5.17% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrea Ellis sold 17,167 shares of the stock in a transaction dated Tuesday, August 5th. The stock was sold at an average price of $49.00, for a total transaction of $841,183.00. Following the completion of the sale, the director directly owned 18,589 shares in the company, valued at $910,861. This trade represents a 48.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 4,092,912 shares of company stock worth $181,359,210. 18.20% of the stock is owned by insiders.

BridgeBio Pharma Stock Up 3.0%

BBIO stock traded up $1.55 during mid-day trading on Friday, hitting $53.38. The company had a trading volume of 2,916,328 shares, compared to its average volume of 2,230,679. The company has a market capitalization of $10.20 billion, a price-to-earnings ratio of -13.05 and a beta of 1.25. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $53.97. The company has a 50-day moving average price of $47.58 and a 200 day moving average price of $39.69.

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