Zimmer Partners LP Has $10.42 Million Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Zimmer Partners LP has increased its stake in BridgeBio Pharma by 67.1%, owning 301,400 shares valued at approximately $10.42 million as of the end of the most recent quarter.
• Several institutional investors have significantly raised their positions in BridgeBio, with notable transactions including a new investment by Driehaus Capital Management worth about $51.87 million.
• BridgeBio Pharma's stock has received favorable ratings from analysts, with a consensus target price of $63.35 and 17 analysts rating it as a "Buy".

Zimmer Partners LP boosted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 67.1% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 301,400 shares of the company's stock after purchasing an additional 121,000 shares during the quarter. Zimmer Partners LP owned approximately 0.16% of BridgeBio Pharma worth $10,419,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. GAMMA Investing LLC boosted its position in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares during the period. Xponance Inc. boosted its position in BridgeBio Pharma by 3.8% during the 1st quarter. Xponance Inc. now owns 10,474 shares of the company's stock valued at $362,000 after purchasing an additional 385 shares during the period. Mackenzie Financial Corp boosted its position in 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 acquiring an additional 592 shares during the period. CWM LLC boosted its position in 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 acquiring an additional 598 shares during the period. Finally, GF Fund Management CO. LTD. boosted its position in 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 acquiring an additional 871 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts have issued reports on BBIO shares. Piper Sandler boosted their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a research report on Monday, July 14th. Wells Fargo & Company boosted their price target on BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a research report on Monday, June 30th. UBS Group boosted their price target on BridgeBio Pharma from $72.00 to $82.00 and gave the stock a "buy" rating in a research report on Friday. Wolfe Research started coverage on BridgeBio Pharma in a research report on Tuesday, June 17th. They set an "outperform" rating and a $49.00 price target for the company. Finally, JPMorgan Chase & Co. boosted their price target on BridgeBio Pharma from $55.00 to $70.00 and gave the stock an "overweight" rating in a research report on Wednesday, September 3rd. Seventeen equities research analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of "Buy" and an average target price of $63.94.

BridgeBio Pharma Price Performance

Shares of BridgeBio Pharma stock traded down $1.39 during trading on Friday, hitting $51.21. The stock had a trading volume of 2,087,756 shares, compared to its average volume of 2,183,994. The firm has a market cap of $9.79 billion, a P/E ratio of -12.52 and a beta of 1.25. The business has a fifty day moving average of $48.54 and a two-hundred day moving average of $40.36. BridgeBio Pharma, Inc. has a fifty-two week low of $21.72 and a fifty-two week high of $54.60.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $110.57 million during the quarter, compared to analyst estimates of $98.46 million. The firm's revenue for the quarter 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, research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction on Thursday, September 4th. The stock was sold at an average price of $51.34, for a total value of $2,053,600.00. Following the completion of the sale, the chief executive officer owned 895,686 shares in the company, valued at $45,984,519.24. This represents a 4.27% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CAO Maricel Apuli sold 1,000 shares of the company's stock in a transaction on Thursday, August 7th. The shares were sold at an average price of $45.44, for a total value of $45,440.00. Following the completion of the sale, the chief accounting officer 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 position. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 4,202,620 shares of company stock valued at $187,174,970. 18.20% of the stock is currently owned by 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.