Informed Momentum Co LLC Purchases New Shares in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Key Points

• Informed Momentum Co LLC has acquired a new stake in BridgeBio Pharma, purchasing approximately 113,270 shares valued at about $3.92 million.
• Following recent sales by major shareholders, insiders now hold 18.20% of BridgeBio Pharma's stock, with significant sales amounting to $166.6 million in the last three months.
• BridgeBio Pharma reported a significant increase in revenue of 4999.9% year-over-year, despite an earnings miss of ($0.95) per share for the latest quarter.

Informed Momentum Co LLC bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund bought 113,270 shares of the company's stock, valued at approximately $3,916,000. Informed Momentum Co LLC owned approximately 0.06% of BridgeBio Pharma at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of BBIO. Farallon Capital Management LLC raised 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 acquiring an additional 2,448,000 shares in the last quarter. Invesco Ltd. raised its stake in BridgeBio Pharma by 147.0% during the first quarter. Invesco Ltd. now owns 2,206,163 shares of the company's stock worth $76,267,000 after acquiring an additional 1,313,036 shares in the last quarter. Woodline Partners LP raised its stake in BridgeBio Pharma by 132.9% during the fourth quarter. Woodline Partners LP now owns 2,211,521 shares of the company's stock worth $60,684,000 after acquiring an additional 1,261,772 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in BridgeBio Pharma by 4,544.6% during the first quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company's stock worth $38,751,000 after acquiring an additional 1,096,799 shares in the last quarter. Finally, Alyeska Investment Group L.P. acquired a new position in BridgeBio Pharma during the fourth quarter worth about $25,805,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on 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 note on Wednesday, August 6th. Wolfe Research assumed coverage on BridgeBio Pharma in a report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price target on the stock. Raymond James Financial assumed coverage on BridgeBio Pharma in a report on Wednesday, July 30th. They set an "outperform" rating and a $56.00 price target on the stock. Truist Financial assumed coverage on BridgeBio Pharma in a report on Monday, July 21st. They set a "buy" rating and a $66.00 price target on the stock. Finally, Oppenheimer boosted their price target on BridgeBio Pharma from $60.00 to $61.00 and gave the stock an "outperform" rating in a report on Wednesday, August 6th. One analyst has rated the stock with a hold rating and seventeen have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average target price of $61.35.

Insider Activity at BridgeBio Pharma

In related news, Director Charles J. Homcy sold 250,000 shares of the stock in a transaction on Friday, August 8th. The stock was sold at an average price of $46.05, for a total value of $11,512,500.00. Following the completion of the sale, the director directly owned 966,674 shares of the company's stock, valued at approximately $44,515,337.70. This represents a 20.55% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Tuesday, August 5th. The shares were sold at an average price of $49.00, for a total value of $841,183.00. Following the completion of the sale, the director directly owned 18,589 shares of the company's stock, valued at $910,861. The trade was a 48.01% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,108,322 shares of company stock valued at $180,497,526 over the last three months. 18.20% of the stock is currently owned by company insiders.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded up $0.80 during trading on Thursday, reaching $51.18. 2,026,681 shares of the stock were exchanged, compared to its average volume of 3,041,771. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $51.86. The stock has a fifty day moving average of $44.39 and a two-hundred day moving average of $37.73. The firm has a market cap of $9.78 billion, a price-to-earnings ratio of -12.51 and a beta of 1.23.

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

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.