Octagon Capital Advisors LP Decreases Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Octagon Capital Advisors LP reduced its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 20.0% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 441,600 shares of the company's stock after selling 110,400 shares during the period. BridgeBio Pharma accounts for approximately 2.0% of Octagon Capital Advisors LP's investment portfolio, making the stock its 20th biggest position. Octagon Capital Advisors LP owned approximately 0.23% of BridgeBio Pharma worth $12,118,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Steward Partners Investment Advisory LLC increased its stake in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after buying an additional 472 shares during the period. Itau Unibanco Holding S.A. acquired a new position in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. Sterling Capital Management LLC boosted its stake in shares of BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after purchasing an additional 1,514 shares during the last quarter. Avanza Fonder AB acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth $181,000. Finally, First Bank & Trust bought a new position in BridgeBio Pharma during the fourth quarter worth $205,000. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Up 0.3%

BBIO stock traded up $0.10 during mid-day trading on Friday, reaching $33.84. 2,618,238 shares of the company traded hands, compared to its average volume of 2,436,632. The firm's 50 day moving average price is $34.40 and its 200 day moving average price is $31.47. The stock has a market cap of $6.43 billion, a price-to-earnings ratio of -11.87 and a beta of 1.15. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $39.54.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its 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 analysts' expectations of $57.14 million. The firm's quarterly revenue was down 44.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.20) EPS. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, CAO Maricel Apuli sold 1,026 shares of the business's stock in a transaction that occurred on Friday, May 2nd. The stock was sold at an average price of $38.51, for a total value of $39,511.26. Following the transaction, the chief accounting officer now owns 147,639 shares in the company, valued at $5,685,577.89. The trade was a 0.69% decrease in their position. The sale 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 the company's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total value of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares of the company's stock, 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 12,410,217 shares of company stock valued at $417,634,332 in the last three months. 18.20% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Piper Sandler increased their price target on BridgeBio Pharma from $46.00 to $63.00 and gave the stock an "overweight" rating in a report on Wednesday, April 30th. Citigroup lifted their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a report on Friday, February 21st. HC Wainwright boosted their target price on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the company a "buy" rating in a research report on Tuesday, April 15th. 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 report on Monday, March 24th. Finally, Cantor Fitzgerald reiterated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company's stock. According to data from MarketBeat.com, BridgeBio Pharma currently has an average rating of "Moderate Buy" and an average price target of $57.09.

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.