Bryce Point Capital LLC Invests $598,000 in BridgeBio Pharma, Inc. $BBIO

Bryce Point Capital LLC bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 2nd quarter, Holdings Channel.com reports. The firm bought 13,856 shares of the company’s stock, valued at approximately $598,000.

A number of other large investors have also added to or reduced their stakes in BBIO. Driehaus Capital Management LLC bought a new stake in BridgeBio Pharma during the first quarter worth about $51,874,000. Invesco Ltd. raised its holdings in shares of BridgeBio Pharma by 147.0% during the 1st quarter. Invesco Ltd. now owns 2,206,163 shares of the company’s stock valued at $76,267,000 after buying an additional 1,313,036 shares in the last quarter. Duquesne Family Office LLC purchased a new position in shares of BridgeBio Pharma during the 1st quarter valued at about $15,143,000. Nuveen LLC bought a new stake in BridgeBio Pharma in the 1st quarter worth approximately $14,973,000. Finally, Cormorant Asset Management LP boosted its stake in BridgeBio Pharma by 25.0% in the first quarter. Cormorant Asset Management LP now owns 2,000,000 shares of the company’s stock worth $69,140,000 after buying an additional 400,000 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 1.0%

Shares of BridgeBio Pharma stock opened at $61.37 on Wednesday. The company’s fifty day simple moving average is $54.46 and its two-hundred day simple moving average is $46.09. BridgeBio Pharma, Inc. has a 12-month low of $21.72 and a 12-month high of $69.48. The firm has a market cap of $11.83 billion, a PE ratio of -14.68 and a beta of 1.39.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The firm had revenue of $108.11 million for the quarter, compared to analysts’ expectations of $107.71 million. The company’s revenue was up 4318.0% on a year-over-year basis. During the same period last year, the business posted ($0.86) earnings per share. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction that occurred on Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the completion of the transaction, the chief executive officer owned 855,686 shares in the company, valued at $46,874,479.08. This represents a 4.47% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Frank Mccormick sold 198,359 shares of the firm’s stock in a transaction on Wednesday, October 29th. The stock was sold at an average price of $66.58, for a total value of $13,206,742.22. Following the completion of the sale, the director directly owned 679,979 shares of the company’s stock, valued at $45,273,001.82. The trade was a 22.58% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last quarter, insiders have sold 780,746 shares of company stock worth $41,506,451. Corporate insiders own 18.20% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on BBIO. Scotiabank lifted their price target on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the stock a “sector outperform” rating in a research note on Wednesday, August 6th. Citigroup boosted their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a “buy” rating in a research note on Friday, July 11th. Wall Street Zen upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a research report on Saturday, August 9th. JPMorgan Chase & Co. lifted their price objective on BridgeBio Pharma from $55.00 to $70.00 and gave the stock an “overweight” rating in a report on Wednesday, September 3rd. Finally, Jefferies Financial Group initiated coverage on BridgeBio Pharma in a research note on Monday, July 14th. They issued a “buy” rating and a $70.00 target price for the company. Twenty equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $73.58.

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.