Ghisallo Capital Management LLC Sells 33,750 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Ghisallo Capital Management LLC cut its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 50.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,750 shares of the company’s stock after selling 33,750 shares during the quarter. Ghisallo Capital Management LLC’s holdings in BridgeBio Pharma were worth $855,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of the company. Bfsg LLC lifted its stake in BridgeBio Pharma by 175.6% in the second quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after buying an additional 790 shares during the period. YHB Investment Advisors Inc. bought a new position in BridgeBio Pharma during the first quarter worth $34,000. Headlands Technologies LLC acquired a new stake in BridgeBio Pharma in the second quarter worth $48,000. Quarry LP bought a new stake in BridgeBio Pharma in the fourth quarter valued at $50,000. Finally, EntryPoint Capital LLC acquired a new position in shares of BridgeBio Pharma during the first quarter valued at about $117,000. Institutional investors own 99.85% of the company’s stock.

Insiders Place Their Bets

In other news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the firm’s stock in a transaction on Friday, September 13th. The stock was sold at an average price of $25.75, for a total transaction of $149,350,000.00. Following the completion of the sale, the insider now directly owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. In other BridgeBio Pharma news, CEO Neil Kumar sold 27,389 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 $676,234.41. Following the completion of the transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $25.75, for a total value of $149,350,000.00. Following the completion of the sale, the insider now owns 25,260,971 shares in the company, valued at $650,470,003.25. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 5,831,544 shares of company stock valued at $150,128,821. Insiders own 24.66% of the company’s stock.

Analysts Set New Price Targets

Several analysts have recently commented on the company. JPMorgan Chase & Co. reduced their target price on BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research note on Wednesday, August 7th. Evercore ISI decreased their price objective on BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a report on Wednesday, August 7th. HC Wainwright reiterated a “buy” rating and issued a $43.00 target price on shares of BridgeBio Pharma in a report on Monday. Piper Sandler initiated coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They set an “overweight” rating and a $46.00 price target for the company. Finally, Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price objective on shares of BridgeBio Pharma in a report on Monday, September 16th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $47.92.

BridgeBio Pharma Price Performance

BBIO opened at $24.80 on Wednesday. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The firm has a market capitalization of $4.64 billion, a P/E ratio of -7.70 and a beta of 1.07. The company’s 50-day moving average is $26.16 and its 200 day moving average is $26.98.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results 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 business had revenue of $2.17 million during the quarter, compared to analysts’ expectations of $3.96 million. BridgeBio Pharma’s quarterly revenue was up 32.1% on a year-over-year basis. During the same quarter in the previous year, the firm earned ($0.98) EPS. On average, equities research analysts expect that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current year.

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.