Atle Fund Management AB Has $10.81 Million Position in BridgeBio Pharma, Inc. $BBIO

Atle Fund Management AB reduced its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 19.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 141,296 shares of the company’s stock after selling 33,426 shares during the quarter. BridgeBio Pharma accounts for about 3.4% of Atle Fund Management AB’s investment portfolio, making the stock its 8th biggest holding. Atle Fund Management AB’s holdings in BridgeBio Pharma were worth $10,808,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds also recently modified their holdings of the company. Handelsbanken Fonder AB boosted its holdings in BridgeBio Pharma by 9.5% during the fourth quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company’s stock worth $2,903,000 after purchasing an additional 3,300 shares during the last quarter. ProShare Advisors LLC raised its position in BridgeBio Pharma by 11.8% during the fourth quarter. ProShare Advisors LLC now owns 37,520 shares of the company’s stock worth $2,870,000 after acquiring an additional 3,970 shares in the last quarter. Abacus Wealth Partners LLC bought a new stake in BridgeBio Pharma during the fourth quarter worth $367,000. L & S Advisors Inc raised its position in BridgeBio Pharma by 31.5% during the fourth quarter. L & S Advisors Inc now owns 22,211 shares of the company’s stock worth $1,699,000 after acquiring an additional 5,318 shares in the last quarter. Finally, DNB Asset Management AS raised its position in BridgeBio Pharma by 38.6% during the fourth quarter. DNB Asset Management AS now owns 14,451 shares of the company’s stock worth $1,105,000 after acquiring an additional 4,028 shares in the last quarter. 99.85% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In related news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total value of $2,716,000.00. Following the completion of the sale, the chief executive officer owned 575,686 shares of the company’s stock, valued at approximately $39,089,079.40. This trade represents a 6.50% decrease in their position. The transaction was disclosed in a document filed with the SEC, 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 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 in the company, valued at $9,599,951.70. This represents a 1.47% 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 238,625 shares of company stock worth $16,367,196 over the last 90 days. Insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Up 1.0%

BBIO opened at $66.00 on Wednesday. BridgeBio Pharma, Inc. has a twelve month low of $31.77 and a twelve month high of $84.94. The company has a 50-day simple moving average of $71.37 and a 200 day simple moving average of $71.79. The stock has a market capitalization of $12.93 billion, a price-to-earnings ratio of -17.65 and a beta of 1.02.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. During the same period last 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. Sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Analyst Ratings Changes

BBIO has been the topic of several analyst reports. Morgan Stanley upped their price target on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 25th. William Blair assumed coverage on shares of BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating on the stock. Oppenheimer decreased their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating on the stock in a report on Wednesday, February 25th. Citigroup assumed coverage on shares of BridgeBio Pharma in a report on Tuesday. They issued a “neutral” rating and a $82.00 price objective on the stock. Finally, Leerink Partners reiterated an “outperform” rating and issued a $98.00 price objective on shares of BridgeBio Pharma in a report on Thursday, March 12th. Twenty-three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus target price of $88.90.

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.