Zimmer Partners LP Acquires New Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Zimmer Partners LP purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm purchased 180,400 shares of the company's stock, valued at approximately $4,950,000. Zimmer Partners LP owned about 0.10% of BridgeBio Pharma at the end of the most recent quarter.

A number of other institutional investors also recently bought and sold shares of the business. Tema Etfs LLC purchased a new position in BridgeBio Pharma during the 4th quarter worth approximately $3,896,000. Sphera Funds Management LTD. raised its position in BridgeBio Pharma by 7.4% during the 4th quarter. Sphera Funds Management LTD. now owns 905,279 shares of the company's stock worth $24,841,000 after buying an additional 62,635 shares during the last quarter. Rafferty Asset Management LLC raised its position in BridgeBio Pharma by 2.8% during the 4th quarter. Rafferty Asset Management LLC now owns 250,242 shares of the company's stock worth $6,867,000 after buying an additional 6,911 shares during the last quarter. ProShare Advisors LLC raised its position in BridgeBio Pharma by 28.8% during the 4th quarter. ProShare Advisors LLC now owns 48,539 shares of the company's stock worth $1,332,000 after buying an additional 10,864 shares during the last quarter. Finally, Nicholas Investment Partners LP raised its position in BridgeBio Pharma by 68.0% during the 4th quarter. Nicholas Investment Partners LP now owns 59,892 shares of the company's stock worth $1,643,000 after buying an additional 24,248 shares during the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of BridgeBio Pharma stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.20, for a total transaction of $205,200,000.00. Following the sale, the insider now owns 13,260,971 shares of the company's stock, valued at $453,525,208.20. The trade was a 31.15% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Neil Kumar sold 31,543 shares of BridgeBio Pharma stock in a transaction on Wednesday, February 19th. The stock was sold at an average price of $36.14, for a total transaction of $1,139,964.02. Following the sale, the chief executive officer now directly owns 211,718 shares in the company, valued at approximately $7,651,488.52. This trade represents a 12.97% decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders have sold 12,410,217 shares of company stock valued at $417,634,332. 18.20% of the stock is owned by company insiders.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $33.69 on Tuesday. The company's fifty day moving average price is $34.45 and its 200 day moving average price is $31.70. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $39.54. The stock has a market capitalization of $6.40 billion, a P/E ratio of -11.82 and a beta of 1.15.

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

Wall Street Analyst Weigh In

A number of equities analysts have issued reports on the stock. HC Wainwright raised their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Redburn Atlantic began coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They set a "buy" rating and a $50.00 price target for the company. Piper Sandler lifted 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. Citigroup lifted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a report on Friday, February 21st. Finally, UBS Group lifted their target price on shares of BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a report on Wednesday, April 30th. One research analyst has rated the stock with a hold rating and eleven have given 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.

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.

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