Bayforest Capital Ltd Buys Shares of 8,552 BridgeBio Pharma, Inc. $BBIO

Bayforest Capital Ltd bought a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, Holdings Channel.com reports. The fund bought 8,552 shares of the company’s stock, valued at approximately $369,000.

Several other hedge funds have also recently added to or reduced their stakes in BBIO. GAMMA Investing LLC increased its holdings 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 acquiring an additional 382 shares in the last quarter. Cambridge Investment Research Advisors Inc. increased its holdings in BridgeBio Pharma by 29.4% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company’s stock valued at $1,065,000 after acquiring an additional 6,997 shares in the last quarter. Diversified Trust Co increased its holdings in BridgeBio Pharma by 25.3% during the 1st quarter. Diversified Trust Co now owns 34,866 shares of the company’s stock valued at $1,205,000 after acquiring an additional 7,039 shares in the last quarter. Allspring Global Investments Holdings LLC purchased a new position in BridgeBio Pharma during the 1st quarter valued at about $251,000. Finally, First Bank & Trust increased its holdings in BridgeBio Pharma by 13.7% during the 1st quarter. First Bank & Trust now owns 8,493 shares of the company’s stock valued at $294,000 after acquiring an additional 1,022 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 42,237 shares of the firm’s stock in a transaction that occurred on Thursday, August 21st. The shares were sold at an average price of $49.48, for a total value of $2,089,886.76. Following the transaction, the chief financial officer owned 421,081 shares in the company, valued at approximately $20,835,087.88. This trade represents a 9.12% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Director Charles J. Homcy sold 250,000 shares of the firm’s stock in a transaction that occurred on Friday, August 8th. The shares were sold at an average price of $46.05, for a total transaction of $11,512,500.00. Following the completion of the transaction, the director owned 966,674 shares in the company, valued at $44,515,337.70. The trade was a 20.55% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 597,913 shares of company stock valued at $29,034,227 in the last three months. 18.20% of the stock is owned by company insiders.

BridgeBio Pharma Price Performance

Shares of BBIO stock opened at $56.63 on Thursday. The firm has a market cap of $10.83 billion, a P/E ratio of -13.85 and a beta of 1.36. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $57.49. The firm’s 50-day simple moving average is $51.64 and its 200-day simple moving average is $43.31.

BridgeBio Pharma (NASDAQ:BBIO) 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 for the quarter, compared to analyst estimates of $98.46 million. BridgeBio Pharma’s revenue for the quarter was up 4999.9% on a year-over-year basis. During the same quarter in the prior year, the firm posted ($0.39) EPS. Analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several equities analysts have weighed in on BBIO shares. UBS Group raised their target price on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, September 12th. Wells Fargo & Company raised their price target on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the stock an “overweight” rating in a research note on Monday, June 30th. Bank of America raised their price target on shares of BridgeBio Pharma from $50.00 to $54.00 and gave the stock a “buy” rating in a research note on Wednesday, June 25th. JPMorgan Chase & Co. raised their price target on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the stock an “overweight” rating in a research note on Wednesday, September 3rd. Finally, Cantor Fitzgerald reaffirmed an “overweight” rating and set a $95.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Seventeen research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $63.94.

About BridgeBio Pharma

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.