BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Acquired by Quarry LP

Quarry LP increased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 27.1% in the second quarter, according to its most recent 13F filing with the SEC. The firm owned 7,500 shares of the company’s stock after purchasing an additional 1,600 shares during the period. Quarry LP’s holdings in BridgeBio Pharma were worth $190,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in BBIO. Frazier Life Sciences Management L.P. boosted its position in shares of BridgeBio Pharma by 6.4% during the second quarter. Frazier Life Sciences Management L.P. now owns 3,632,604 shares of the company’s stock worth $92,014,000 after buying an additional 217,000 shares during the period. Susquehanna Fundamental Investments LLC purchased a new position in BridgeBio Pharma during the 2nd quarter valued at about $4,251,000. Lion Point Capital LP acquired a new position in BridgeBio Pharma in the 2nd quarter valued at about $1,241,000. The Manufacturers Life Insurance Company increased its stake in BridgeBio Pharma by 40.5% during the second quarter. The Manufacturers Life Insurance Company now owns 1,534,972 shares of the company’s stock worth $38,881,000 after purchasing an additional 442,248 shares during the period. Finally, Squarepoint Ops LLC purchased a new stake in BridgeBio Pharma during the second quarter worth about $6,403,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the transaction, the chief financial officer now owns 85,192 shares in the company, valued at $2,103,390.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Neil Kumar sold 27,389 shares of the company’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the completion of the sale, the chief executive officer now owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Insiders have sold 5,831,544 shares of company stock worth $150,128,821 in the last ninety days. 24.66% of the stock is owned by corporate insiders.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $25.46 on Tuesday. The stock’s 50-day simple moving average is $26.22 and its 200-day simple moving average is $27.00. The firm has a market capitalization of $4.76 billion, a PE ratio of -7.91 and a beta of 1.07. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same period in the previous year, the business posted ($0.98) EPS. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of brokerages recently weighed in on BBIO. Piper Sandler began coverage on shares of BridgeBio Pharma in a report on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 price objective for the company. Cantor Fitzgerald reaffirmed an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 16th. Bank of America reiterated a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Evercore ISI cut their price target on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating on the stock in a report on Wednesday, August 7th. Finally, HC Wainwright reiterated a “buy” rating and issued a $43.00 price objective on shares of BridgeBio Pharma in a research note on Monday. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $47.92.

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.