Two Sigma Investments LP Has $6.55 Million Stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Two Sigma Investments LP trimmed its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 37.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 238,536 shares of the company's stock after selling 142,706 shares during the quarter. Two Sigma Investments LP owned about 0.13% of BridgeBio Pharma worth $6,545,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its position in BridgeBio Pharma by 85.8% during the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock worth $28,000 after acquiring an additional 472 shares during the period. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma during the fourth quarter worth about $41,000. Sterling Capital Management LLC increased its position in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after acquiring an additional 1,514 shares during the period. First Bank & Trust bought a new position in BridgeBio Pharma during the fourth quarter worth about $205,000. Finally, Legato Capital Management LLC bought a new position in BridgeBio Pharma during the fourth quarter worth about $210,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock traded up $1.11 during midday trading on Thursday, hitting $33.37. 2,623,253 shares of the company traded hands, compared to its average volume of 2,445,182. The stock has a market cap of $6.34 billion, a price-to-earnings ratio of -11.71 and a beta of 1.15. The firm's fifty day moving average price is $34.42 and its 200-day moving average price is $31.97. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, beating the consensus estimate 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. The company's revenue for the quarter was down 44.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.20) earnings per share. Equities research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 75,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, May 20th. The shares were sold at an average price of $33.40, for a total transaction of $2,505,000.00. Following the sale, the chief executive officer now directly owns 4,798,447 shares in the company, valued at $160,268,129.80. This trade represents a 1.54% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, March 5th. The stock was sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the sale, the insider now owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. This represents a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 12,392,182 shares of company stock worth $416,921,291 in the last ninety days. Company insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

BBIO has been the topic of a number of recent research reports. UBS Group raised their price target on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the stock a "buy" rating in a research report on Wednesday, April 30th. JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $44.00 to $50.00 and gave the stock an "overweight" rating in a research report on Monday, March 24th. HC Wainwright raised their target price on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a report on Tuesday, April 15th. Cantor Fitzgerald reissued an "overweight" rating and issued a $95.00 target price on shares of BridgeBio Pharma in a report on Friday, February 21st. Finally, Piper Sandler raised their target price on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday, April 30th. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of "Moderate Buy" and a consensus target price of $57.09.

About BridgeBio Pharma

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.