BridgeBio Pharma, Inc. $BBIO Shares Sold by Monashee Investment Management LLC

Monashee Investment Management LLC lowered its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 50.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 100,000 shares of the company’s stock after selling 100,000 shares during the quarter. BridgeBio Pharma comprises approximately 4.3% of Monashee Investment Management LLC’s holdings, making the stock its 9th largest position. Monashee Investment Management LLC’s holdings in BridgeBio Pharma were worth $7,649,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also made changes to their positions in BBIO. Norges Bank acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth approximately $116,802,000. Invesco Ltd. increased its holdings in shares of BridgeBio Pharma by 40.3% during the 3rd quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock worth $204,054,000 after buying an additional 1,127,592 shares during the last quarter. Allspring Global Investments Holdings LLC increased its holdings in BridgeBio Pharma by 14,211.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock valued at $77,783,000 after purchasing an additional 987,273 shares during the last quarter. Polar Capital Holdings Plc acquired a new stake in BridgeBio Pharma in the 3rd quarter valued at approximately $50,956,000. Finally, Wellington Management Group LLP increased its holdings in BridgeBio Pharma by 1,698.5% in the 3rd quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock valued at $52,937,000 after purchasing an additional 962,525 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company’s stock.

BridgeBio Pharma Stock Up 0.2%

Shares of BBIO stock opened at $67.55 on Friday. BridgeBio Pharma, Inc. has a 52 week low of $38.57 and a 52 week high of $84.94. The stock has a market capitalization of $13.23 billion, a PE ratio of -18.06 and a beta of 0.97. The firm has a 50 day moving average of $70.38 and a two-hundred day moving average of $72.15.

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 business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the previous year, the company earned ($0.88) earnings per share. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. Analysts expect that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the firm’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 completion of the transaction, the chief accounting officer owned 134,115 shares of the company’s stock, valued at $9,599,951.70. This trade represents a 1.47% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the firm’s 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 completion of the transaction, the chief financial officer directly owned 359,194 shares of the company’s stock, valued at $23,376,345.52. This represents 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. Over the last 90 days, insiders sold 171,754 shares of company stock worth $11,914,859. 14.23% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

BBIO has been the subject of several research reports. Mizuho reiterated an “outperform” rating and issued a $106.00 target price on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Canaccord Genuity Group initiated coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 target price for the company. Leerink Partners reiterated an “outperform” rating and issued a $98.00 target price on shares of BridgeBio Pharma in a report on Thursday, March 12th. Weiss Ratings reiterated a “sell (d)” rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Finally, Truist Financial lifted their target price on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a report on Wednesday, April 29th. Twenty-three analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has an average rating of “Moderate Buy” and a consensus target price of $89.59.

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.