Tema Etfs LLC Trims Stake in BridgeBio Pharma, Inc. $BBIO

Tema Etfs LLC reduced its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 13.6% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 83,402 shares of the company’s stock after selling 13,159 shares during the quarter. Tema Etfs LLC’s holdings in BridgeBio Pharma were worth $6,379,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of BBIO. Aster Capital Management DIFC Ltd bought a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $31,000. Harvest Fund Management Co. Ltd bought a new position in shares of BridgeBio Pharma in the third quarter worth approximately $34,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma in the first quarter worth approximately $35,000. First Horizon Corp purchased a new stake in BridgeBio Pharma in the third quarter valued at approximately $36,000. Finally, Huntington National Bank raised its stake in BridgeBio Pharma by 111.7% in the third quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after purchasing an additional 392 shares in the last quarter. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $74.45 on Thursday. The stock has a market capitalization of $14.43 billion, a P/E ratio of -19.70 and a beta of 1.13. BridgeBio Pharma, Inc. has a one year low of $28.33 and a one year high of $84.94. The firm’s 50 day simple moving average is $71.57 and its two-hundred day simple moving average is $67.77.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. During the same period last year, the firm posted ($1.40) EPS. The business’s revenue was up 2521.2% on a year-over-year basis. As a group, equities analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 13,600 shares of the business’s stock in a transaction on Tuesday, February 17th. The shares were sold at an average price of $74.72, for a total value of $1,016,192.00. Following the completion of the sale, the chief financial officer directly owned 336,585 shares of the company’s stock, valued at $25,149,631.20. The trade was a 3.88% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CAO Maricel Apuli sold 510 shares of the firm’s stock in a transaction dated Tuesday, February 17th. The shares were sold at an average price of $74.31, for a total value of $37,898.10. Following the transaction, the chief accounting officer directly owned 123,945 shares in the company, valued at $9,210,352.95. This trade represents a 0.41% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 237,084 shares of company stock valued at $16,608,419 over the last three months. 18.20% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

A number of equities analysts have commented on the stock. Sanford C. Bernstein initiated coverage on shares of BridgeBio Pharma in a research note on Thursday, December 11th. They issued an “outperform” rating and a $94.00 price target for the company. Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. HC Wainwright lifted their price objective on shares of BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a report on Tuesday, February 17th. JPMorgan Chase & Co. upped their target price on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an “overweight” rating in a research report on Tuesday, March 10th. Finally, Morgan Stanley increased their target price on BridgeBio Pharma from $96.00 to $98.00 and gave the company an “overweight” rating in a research note on Wednesday, February 25th. Twenty-three analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Moderate Buy” and an average target price of $86.75.

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.