Lion Point Capital LP Buys Shares of 49,000 BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Lion Point Capital LP purchased a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor purchased 49,000 shares of the company’s stock, valued at approximately $1,241,000. BridgeBio Pharma comprises 2.3% of Lion Point Capital LP’s portfolio, making the stock its 8th biggest holding.

Other hedge funds and other institutional investors have also modified their holdings of the company. Wellington Management Group LLP lifted its stake in BridgeBio Pharma by 5.3% in the fourth quarter. Wellington Management Group LLP now owns 1,495,114 shares of the company’s stock valued at $60,358,000 after acquiring an additional 75,564 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of BridgeBio Pharma by 22.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock valued at $24,859,000 after purchasing an additional 145,594 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of BridgeBio Pharma by 3.3% in the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the last quarter. ADAR1 Capital Management LLC bought a new stake in BridgeBio Pharma in the fourth quarter worth $7,474,000. Finally, Comerica Bank increased its position in BridgeBio Pharma by 3,013.5% during the first quarter. Comerica Bank now owns 38,514 shares of the company’s stock worth $1,191,000 after buying an additional 37,277 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In related news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Monday, August 19th. The shares were sold at an average price of $24.69, for a total transaction 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In related news, CEO Neil Kumar sold 27,389 shares of the stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $120,917,867.67. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma 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 of the company’s stock, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. In the last quarter, insiders have sold 5,831,544 shares of company stock worth $150,128,821. Corporate insiders own 24.66% of the company’s stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO opened at $24.48 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32. The stock has a market cap of $4.60 billion, a PE ratio of -7.60 and a beta of 1.07. The firm has a 50-day simple moving average of $26.27 and a 200 day simple moving average of $27.06.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, topping the consensus estimate of ($1.00) by $0.61. The firm 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. BridgeBio Pharma’s revenue for the quarter was up 32.1% compared to the same quarter last year. Research analysts forecast that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current fiscal year.

Analysts Set New Price Targets

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

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.