Philosophy Capital Management LLC Makes New Investment in BridgeBio Pharma, Inc. $BBIO

Key Points

• Philosophy Capital Management LLC has acquired a new stake in BridgeBio Pharma, purchasing 391,583 shares valued at approximately $13.54 million, making it the firm's 23rd largest position.
• BridgeBio Pharma reported a quarterly loss of ($0.95) earnings per share, missing analyst estimates, despite a significant 4999.9% year-over-year revenue increase to $110.57 million.
• Seventeen analysts currently rate BridgeBio Pharma as a "Buy" with an average target price of $63.35, indicating a positive outlook for the stock.

Philosophy Capital Management LLC purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 391,583 shares of the company's stock, valued at approximately $13,537,000. BridgeBio Pharma makes up approximately 1.0% of Philosophy Capital Management LLC's holdings, making the stock its 23rd biggest holding. Philosophy Capital Management LLC owned approximately 0.21% of BridgeBio Pharma at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of BBIO. GAMMA Investing LLC raised its holdings in BridgeBio Pharma by 71.0% in the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after acquiring an additional 382 shares during the last quarter. Xponance Inc. increased its holdings in shares of BridgeBio Pharma by 3.8% during the 1st quarter. Xponance Inc. now owns 10,474 shares of the company's stock worth $362,000 after buying an additional 385 shares during the last quarter. Mackenzie Financial Corp increased its holdings in shares of BridgeBio Pharma by 6.6% during the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after buying an additional 592 shares during the last quarter. CWM LLC increased its holdings in shares of BridgeBio Pharma by 12.8% during the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after buying an additional 598 shares during the last quarter. Finally, GF Fund Management CO. LTD. increased its holdings in shares of BridgeBio Pharma by 22.0% during the 1st quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company's stock worth $167,000 after buying an additional 871 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BridgeBio Pharma

In other news, CFO Thomas Trimarchi sold 42,237 shares of BridgeBio Pharma stock in a transaction on Thursday, August 21st. The shares were sold at an average price of $49.48, for a total transaction of $2,089,886.76. Following the completion of the sale, the chief financial officer directly owned 421,081 shares of the company's stock, valued at approximately $20,835,087.88. The trade was a 9.12% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CAO Maricel Apuli sold 1,000 shares of the business's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total transaction of $45,440.00. Following the completion of the sale, the chief accounting officer directly owned 141,859 shares of the company's stock, valued at approximately $6,446,072.96. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 4,202,620 shares of company stock worth $187,174,970. 18.20% of the stock is currently owned by company insiders.

Analyst Ratings Changes

A number of analysts have recently issued reports on the stock. Raymond James Financial assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, July 30th. They set an "outperform" rating and a $56.00 price target for the company. Citigroup raised their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a report on Friday, July 11th. Truist Financial assumed coverage on shares of BridgeBio Pharma in a report on Monday, July 21st. They set a "buy" rating and a $66.00 price target for the company. Wall Street Zen upgraded shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price target on shares of BridgeBio Pharma in a report on Tuesday, July 29th. Seventeen analysts have rated the stock with a Buy rating, According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of "Buy" and a consensus target price of $63.35.

BridgeBio Pharma Trading Down 0.1%

BridgeBio Pharma stock traded down $0.04 during trading on Thursday, hitting $52.93. The company had a trading volume of 555,105 shares, compared to its average volume of 2,953,083. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $54.60. The stock has a market cap of $10.12 billion, a price-to-earnings ratio of -12.95 and a beta of 1.25. The company's 50 day simple moving average is $48.21 and its 200-day simple moving average is $40.04.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted 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 period last year, the business posted ($0.39) EPS. As a group, analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal 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.