Squarepoint Ops LLC Has $88.76 Million Stock Position in BridgeBio Pharma, Inc. $BBIO

Squarepoint Ops LLC lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 114.2% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,191,732 shares of the company’s stock after purchasing an additional 635,408 shares during the period. Squarepoint Ops LLC’s holdings in BridgeBio Pharma were worth $88,760,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the stock. Silvant Capital Management LLC acquired a new position in BridgeBio Pharma during the 2nd quarter worth $28,000. Allworth Financial LP bought a new stake in shares of BridgeBio Pharma during the second quarter worth $31,000. Harvest Fund Management Co. Ltd acquired a new position in shares of BridgeBio Pharma during the third quarter valued at $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma in the first quarter valued at about $35,000. Finally, Global Retirement Partners LLC increased its position in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after purchasing an additional 372 shares during the period. 99.85% of the stock is owned by institutional investors.

Insiders Place Their Bets

In related news, Director Jennifer E. Cook sold 148,589 shares of the firm’s stock in a transaction on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total value of $13,156,070.06. Following the completion of the transaction, the director directly owned 8,383 shares of the company’s stock, valued at approximately $742,230.82. This trade represents a 94.66% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, July 30th. The shares were sold at an average price of $80.06, for a total transaction of $160,120.00. Following the completion of the transaction, the chief accounting officer directly owned 127,401 shares of the company’s stock, valued at approximately $10,199,724.06. This trade represents a 1.55% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 347,343 shares of company stock valued at $27,591,000 in the last quarter. Company insiders own 14.23% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on BBIO. Weiss Ratings cut shares of BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research report on Tuesday, August 11th. Citigroup lifted their target price on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a report on Thursday, July 16th. Cantor Fitzgerald restated an “overweight” rating and issued a $110.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, August 11th. Mizuho lifted their price objective on BridgeBio Pharma from $96.00 to $110.00 and gave the stock an “outperform” rating in a research note on Tuesday, September 1st. Finally, Canaccord Genuity Group increased their target price on BridgeBio Pharma from $104.00 to $106.00 and gave the company a “buy” rating in a research note on Wednesday, August 12th. Twenty research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $101.53.

BridgeBio Pharma Price Performance

BBIO stock opened at $74.76 on Wednesday. The stock has a market capitalization of $14.61 billion, a P/E ratio of -20.94 and a beta of 0.97. BridgeBio Pharma, Inc. has a fifty-two week low of $48.78 and a fifty-two week high of $93.42. The business has a 50-day moving average of $80.80 and a 200-day moving average of $73.61.

BridgeBio Pharma (NASDAQ:BBIO) last announced its earnings results on Monday, August 10th. The company reported ($0.78) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.58) by ($0.20). The company had revenue of $243.68 million during the quarter, compared to analyst estimates of $220.91 million. The business’s revenue was up 120.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($0.95) earnings per share. Equities analysts expect that BridgeBio Pharma, Inc. will post -2.64 EPS for the current year.

BridgeBio Pharma 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.