BridgeBio Pharma, Inc. $BBIO Holdings Reduced by Boone Capital Management LLC

Boone Capital Management LLC decreased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 59.8% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 184,963 shares of the company’s stock after selling 275,319 shares during the period. BridgeBio Pharma makes up approximately 4.7% of Boone Capital Management LLC’s holdings, making the stock its 11th biggest position. Boone Capital Management LLC’s holdings in BridgeBio Pharma were worth $14,148,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Freestone Grove Partners LP grew its position in BridgeBio Pharma by 33.9% in the 4th quarter. Freestone Grove Partners LP now owns 125,201 shares of the company’s stock worth $9,577,000 after purchasing an additional 31,732 shares during the last quarter. AQR Capital Management LLC grew its position in BridgeBio Pharma by 36.1% in the 4th quarter. AQR Capital Management LLC now owns 134,517 shares of the company’s stock worth $10,289,000 after purchasing an additional 35,690 shares during the last quarter. Abel Hall LLC bought a new position in BridgeBio Pharma in the 4th quarter worth about $809,000. EFG International AG bought a new position in BridgeBio Pharma in the 4th quarter worth about $6,749,000. Finally, Kovack Advisors Inc. bought a new position in BridgeBio Pharma in the 4th quarter worth about $788,000. Institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have recently weighed in on the stock. Oppenheimer reduced their price target on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research note on Wednesday, February 25th. HC Wainwright reaffirmed a “buy” rating and issued a $110.00 price target on shares of BridgeBio Pharma in a research note on Thursday, May 28th. Canaccord Genuity Group assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price target for the company. Citigroup assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a “neutral” rating and a $82.00 price target for the company. Finally, Leerink Partners reaffirmed an “outperform” rating and issued a $98.00 price target on shares of BridgeBio Pharma in a research note on Thursday, March 12th. Twenty-two research analysts have rated the stock with a Buy rating, two have given a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $91.05.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $67.39 on Thursday. The company has a market cap of $13.20 billion, a PE ratio of -18.02 and a beta of 0.97. BridgeBio Pharma, Inc. has a 52 week low of $39.65 and a 52 week high of $84.94. The firm has a 50 day simple moving average of $69.89 and a 200 day simple moving average of $72.04.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. The business’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.88) EPS. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction that occurred on Thursday, April 30th. The shares were sold at an average price of $71.58, for a total value of $143,160.00. Following the transaction, the chief accounting officer owned 134,115 shares in the company, valued at approximately $9,599,951.70. This represents a 1.47% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at approximately $778,201.35. This represents a 46.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last quarter, insiders have sold 261,994 shares of company stock worth $17,926,648. 14.23% of the stock is owned by company insiders.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.