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

Ghisallo Capital Management LLC decreased its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 50.0% during the second quarter, HoldingsChannel reports. The fund 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 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in the stock. TD Asset Management Inc bought a new stake in shares of BridgeBio Pharma during the 4th quarter valued at $1,174,000. Campbell & CO Investment Adviser LLC boosted its position in shares of BridgeBio Pharma by 50.8% in the fourth quarter. Campbell & CO Investment Adviser LLC now owns 23,071 shares of the company’s stock valued at $931,000 after acquiring an additional 7,775 shares during the period. The Manufacturers Life Insurance Company grew its stake in BridgeBio Pharma by 11.8% during the fourth quarter. The Manufacturers Life Insurance Company now owns 744,132 shares of the company’s stock valued at $30,041,000 after acquiring an additional 78,528 shares in the last quarter. NEOS Investment Management LLC bought a new stake in BridgeBio Pharma during the 4th quarter worth approximately $739,000. Finally, Nomura Holdings Inc. lifted its stake in BridgeBio Pharma by 9.8% in the 4th quarter. Nomura Holdings Inc. now owns 257,995 shares of the company’s stock worth $10,415,000 after purchasing an additional 22,986 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 2.6 %

BridgeBio Pharma stock opened at $24.80 on Wednesday. The firm has a fifty day simple moving average of $26.16 and a two-hundred day simple moving average of $26.98. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32. The company has a market capitalization of $4.64 billion, a PE ratio of -7.70 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share for the quarter, beating analysts’ consensus estimates of ($1.00) by $0.61. The company had revenue of $2.17 million during the quarter, compared to the consensus estimate of $3.96 million. During the same period last year, the firm posted ($0.98) EPS. The company’s revenue was up 32.1% on a year-over-year basis. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -2.54 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

BBIO has been the subject of a number of recent analyst reports. Evercore ISI reduced their price target on shares of BridgeBio Pharma from $50.00 to $45.00 and set an “outperform” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reaffirmed an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 16th. HC Wainwright reissued a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a report on Monday. Bank of America reaffirmed a “buy” rating and issued a $42.00 target price on shares of BridgeBio Pharma in a research note on Wednesday, September 11th. Finally, JPMorgan Chase & Co. cut their price target 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. One investment analyst has rated the stock with a hold rating and eleven have assigned a buy rating to the stock. According to MarketBeat, BridgeBio Pharma presently has an average rating of “Moderate Buy” and a consensus target price of $47.92.

Insider Activity

In related news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction on Friday, September 13th. The shares were 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 in the company, valued at approximately $650,470,003.25. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, CEO Neil Kumar sold 27,389 shares of the business’s 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 transaction, the chief executive officer now directly owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the company’s stock in a transaction that occurred 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 transaction, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The disclosure for this sale can be found here. Over the last 90 days, insiders sold 5,831,544 shares of company stock valued at $150,128,821. 24.66% of the stock is currently owned by company insiders.

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.