Zimmer Partners LP Raises Stock Position 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 increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 67.1% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 301,400 shares of the company's stock after purchasing an additional 121,000 shares during the quarter. Zimmer Partners LP owned 0.16% of BridgeBio Pharma worth $10,419,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC raised its position in BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after acquiring an additional 382 shares during the period. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the first quarter worth approximately $35,000. GF Fund Management CO. LTD. bought a new position in BridgeBio Pharma in the fourth quarter worth approximately $109,000. CWM LLC raised its position in BridgeBio Pharma by 12.8% in the first 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, Commerce Bank bought a new position in BridgeBio Pharma in the first quarter worth approximately $209,000. Hedge funds and other institutional investors own 99.85% of the company's stock.

Insider Buying and Selling

In other BridgeBio Pharma news, CAO Maricel Apuli sold 1,000 shares of BridgeBio Pharma 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 sale, the chief accounting officer directly owned 141,859 shares in the company, valued at approximately $6,446,072.96. The trade was a 0.70% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Charles J. Homcy sold 50,000 shares of BridgeBio Pharma stock in a transaction on Monday, August 11th. The shares were sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the completion of the sale, the director owned 916,674 shares in the company, valued at approximately $44,000,352. This represents a 5.17% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 4,202,620 shares of company stock worth $187,174,970 in the last 90 days. 18.20% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the stock. Truist Financial assumed coverage on shares of BridgeBio Pharma in a research report on Monday, July 21st. They issued a "buy" rating and a $66.00 price target on the stock. Bank of America increased their price target on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Citigroup increased their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research report on Friday, July 11th. Raymond James Financial initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 price target on the stock. Finally, Piper Sandler raised their price objective on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research report on Monday, July 14th. Seventeen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock has a consensus rating of "Buy" and a consensus target price of $63.94.

BridgeBio Pharma Stock Down 2.6%

NASDAQ BBIO traded down $1.39 on Friday, reaching $51.21. The company had a trading volume of 2,087,756 shares, compared to its average volume of 2,190,681. The stock has a market capitalization of $9.79 billion, a PE ratio of -12.52 and a beta of 1.25. The firm's 50 day moving average price is $48.54 and its 200 day moving average price is $40.27. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $54.60.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The business had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. The business's revenue was up 4999.9% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.39) EPS. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

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.