Legato Capital Management LLC Increases Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Legato Capital Management LLC increased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 174.7% in the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 21,071 shares of the company's stock after acquiring an additional 13,401 shares during the quarter. Legato Capital Management LLC's holdings in BridgeBio Pharma were worth $728,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently modified their holdings of BBIO. GAMMA Investing LLC grew 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 worth $32,000 after buying an additional 382 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $41,000. Sterling Capital Management LLC lifted its holdings in shares of BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after acquiring an additional 1,514 shares during the last quarter. GF Fund Management CO. LTD. bought a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $109,000. Finally, CWM LLC lifted its holdings in shares of BridgeBio Pharma by 12.8% in the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock valued at $182,000 after acquiring an additional 598 shares during the last quarter. Institutional investors own 99.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently commented on the stock. Citigroup increased their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the company a "buy" rating in a report on Friday, July 11th. Oppenheimer upgraded shares of BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 target price for the company in a report on Wednesday, July 9th. UBS Group raised their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a report on Wednesday, April 30th. HC Wainwright raised their target price on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the stock a "buy" rating in a report on Monday, June 9th. Finally, Wolfe Research began coverage on shares of BridgeBio Pharma in a report on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 target price for the company. One research analyst has rated the stock with a hold rating and sixteen have assigned a buy rating to the stock. According to MarketBeat.com, BridgeBio Pharma has an average rating of "Moderate Buy" and an average price target of $61.50.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded up $0.64 during trading hours on Friday, hitting $46.30. The company's stock had a trading volume of 1,508,944 shares, compared to its average volume of 2,800,488. BridgeBio Pharma, Inc. has a 52 week low of $21.72 and a 52 week high of $48.68. The company has a market capitalization of $8.79 billion, a price-to-earnings ratio of -13.12 and a beta of 1.15. The firm's fifty day moving average price is $40.98 and its 200 day moving average price is $36.53.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) EPS for the quarter, beating the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. During the same quarter in the prior year, the firm posted ($0.20) EPS. The company's revenue for the quarter was down 44.8% compared to the same quarter last year. On average, equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other news, major shareholder Global Investors Lp Viking sold 3,500,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $44.00, for a total value of $154,000,000.00. Following the transaction, the insider owned 18,555,375 shares of the company's stock, valued at $816,436,500. The trade was a 15.87% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Frank Mccormick sold 100,000 shares of the business's stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total transaction of $4,423,000.00. Following the sale, the director directly owned 879,979 shares in the company, valued at approximately $38,921,471.17. This represents a 10.20% decrease in their position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 9,851,181 shares of company stock worth $372,969,914. 18.20% of the stock is owned by corporate insiders.

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.