Squarepoint Ops LLC Takes Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Squarepoint Ops LLC purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 252,793 shares of the company’s stock, valued at approximately $6,403,000. Squarepoint Ops LLC owned 0.14% of BridgeBio Pharma as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Commerce Bank bought a new position in BridgeBio Pharma during the fourth quarter worth $244,000. TD Asset Management Inc bought a new position in BridgeBio Pharma during the fourth quarter worth $1,174,000. Eagle Asset Management Inc. bought a new position in BridgeBio Pharma during the fourth quarter worth $8,845,000. Campbell & CO Investment Adviser LLC increased its position in BridgeBio Pharma by 50.8% during the fourth quarter. Campbell & CO Investment Adviser LLC now owns 23,071 shares of the company’s stock worth $931,000 after acquiring an additional 7,775 shares during the period. Finally, The Manufacturers Life Insurance Company increased its position 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 worth $30,041,000 after acquiring an additional 78,528 shares during the period. Institutional investors own 99.85% of the company’s stock.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 4,155 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 $102,586.95. Following the sale, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other BridgeBio Pharma news, major shareholder Genetic Disorder L.P. Kkr sold 5,800,000 shares of the stock in a transaction dated 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 sale, the insider now owns 25,260,971 shares of the company’s stock, valued at approximately $650,470,003.25. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CFO Brian C. Stephenson sold 4,155 shares of the stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the sale, the chief financial officer now directly owns 85,192 shares in the company, valued at approximately $2,103,390.48. The disclosure for this sale can be found here. Insiders have sold a total of 5,831,544 shares of company stock valued at $150,128,821 in the last 90 days. 24.66% of the stock is currently owned by insiders.

BridgeBio Pharma Stock Performance

BBIO opened at $24.94 on Monday. The firm’s 50-day simple moving average is $26.24 and its 200-day simple moving average is $27.01. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32. The firm has a market cap of $4.67 billion, a price-to-earnings ratio of -7.75 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results 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 during the quarter, compared to the consensus estimate of $3.96 million. During the same period in the previous year, the company posted ($0.98) EPS. The firm’s revenue for the quarter was up 32.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -2.54 EPS for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Bank of America reaffirmed a “buy” rating and set a $42.00 target price on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. 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. Evercore ISI decreased their price target 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. JPMorgan Chase & Co. decreased their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a research note on Wednesday, August 7th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 price target on shares of BridgeBio Pharma in a research note on Monday, September 16th. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.