Legato Capital Management LLC Buys 17,682 Shares of BridgeBio Pharma, Inc. $BBIO

Legato Capital Management LLC grew its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 64.2% during the fourth quarter, Holdings Channel.com reports. The fund owned 45,225 shares of the company’s stock after purchasing an additional 17,682 shares during the quarter. Legato Capital Management LLC’s holdings in BridgeBio Pharma were worth $3,459,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Global Retirement Partners LLC grew its stake in BridgeBio Pharma by 271.5% in the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares in the last quarter. Leonteq Securities AG bought a new position in shares of BridgeBio Pharma during the fourth quarter valued at approximately $198,000. PSP Research LLC bought a new position in shares of BridgeBio Pharma during the fourth quarter valued at approximately $546,000. Handelsbanken Fonder AB boosted its stake in shares of BridgeBio Pharma by 9.5% during the fourth quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company’s stock valued at $2,903,000 after purchasing an additional 3,300 shares in the last quarter. Finally, ProShare Advisors LLC boosted its stake in shares of BridgeBio Pharma by 11.8% during the fourth quarter. ProShare Advisors LLC now owns 37,520 shares of the company’s stock valued at $2,870,000 after purchasing an additional 3,970 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Insider Activity at BridgeBio Pharma

In related news, Director Andrea Ellis sold 64,921 shares of the stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total transaction of $4,211,425.27. Following the completion of the sale, the director owned 18,589 shares of the company’s stock, valued at $1,205,868.43. This represents a 77.74% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $65.08, for a total transaction of $888,407.08. Following the sale, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at $23,376,345.52. The trade was a 3.66% 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 a total of 210,572 shares of company stock valued at $14,364,492 over the last three months. Company insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Down 1.7%

NASDAQ:BBIO opened at $69.12 on Friday. BridgeBio Pharma, Inc. has a 52 week low of $31.77 and a 52 week high of $84.94. The firm has a 50 day moving average of $71.30 and a 200 day moving average of $71.86. The stock has a market capitalization of $13.54 billion, a price-to-earnings ratio of -18.48 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the firm earned ($0.88) earnings per share. The firm’s revenue was up 66.8% compared to the same quarter last year. As a group, analysts expect that BridgeBio Pharma, Inc. will post -2.27 EPS for the current year.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the stock. Raymond James Financial set a $89.00 price objective on shares of BridgeBio Pharma and gave the company an “outperform” rating in a research note on Thursday, February 12th. Truist Financial increased their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Mizuho reiterated an “outperform” rating and set a $106.00 price objective on shares of BridgeBio Pharma in a research note on Tuesday, April 28th. William Blair assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They set an “outperform” rating on the stock. Finally, Wells Fargo & Company increased their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. Twenty-three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $88.90.

About BridgeBio Pharma

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.