BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Bought by Zimmer Partners LP

Zimmer Partners LP grew its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 12.6% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 73,200 shares of the company’s stock after acquiring an additional 8,200 shares during the period. Zimmer Partners LP’s holdings in BridgeBio Pharma were worth $2,263,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Comerica Bank increased its holdings in shares of BridgeBio Pharma by 3,013.5% in the 1st quarter. Comerica Bank now owns 38,514 shares of the company’s stock valued at $1,191,000 after acquiring an additional 37,277 shares during the last quarter. California State Teachers Retirement System increased its stake in BridgeBio Pharma by 7.3% during the first quarter. California State Teachers Retirement System now owns 105,596 shares of the company’s stock valued at $3,265,000 after purchasing an additional 7,153 shares during the last quarter. Janus Henderson Group PLC raised its holdings in shares of BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after purchasing an additional 2,169,143 shares during the period. Price T Rowe Associates Inc. MD raised its stake in BridgeBio Pharma by 22.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 803,956 shares of the company’s stock worth $24,859,000 after acquiring an additional 145,594 shares during the period. Finally, Matrix Capital Management Company LP acquired a new position in BridgeBio Pharma in the first quarter valued at approximately $5,256,000. Institutional investors own 99.85% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. UBS Group cut their price target on BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Cantor Fitzgerald restated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research report on Monday, July 1st. Evercore ISI initiated coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 14th. They issued an “outperform” rating and a $50.00 price objective on the stock. Bank of America decreased their target price on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating for the company in a research report on Tuesday, June 25th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $43.00 price target on shares of BridgeBio Pharma in a report on Thursday, June 20th. One analyst has rated the stock with a hold rating, nine have assigned a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Buy” and an average price target of $48.73.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded up $0.23 during mid-day trading on Thursday, reaching $26.18. 1,568,642 shares of the company traded hands, compared to its average volume of 1,811,306. The firm has a market cap of $4.90 billion, a PE ratio of -8.02 and a beta of 1.06. BridgeBio Pharma, Inc. has a fifty-two week low of $21.62 and a fifty-two week high of $44.32. The stock has a fifty day simple moving average of $26.81 and a 200-day simple moving average of $29.50.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The firm had revenue of $211.12 million during the quarter, compared to the consensus estimate of $140.06 million. As a group, analysts predict that BridgeBio Pharma, Inc. will post -3.2 EPS for the current fiscal year.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of the company’s stock in a transaction dated Monday, June 3rd. The shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the sale, the director now directly owns 5,500 shares of the company’s stock, valued at approximately $158,620. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 24.66% of the stock is owned by corporate insiders.

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.