Tema Etfs LLC Sells 27,026 Shares of BridgeBio Pharma, Inc. $BBIO

Tema Etfs LLC reduced its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 21.9% in the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 96,561 shares of the company’s stock after selling 27,026 shares during the period. Tema Etfs LLC owned about 0.05% of BridgeBio Pharma worth $5,015,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Corient Private Wealth LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter valued at about $643,000. WINTON GROUP Ltd acquired a new position in shares of BridgeBio Pharma during the second quarter worth approximately $3,856,000. Moss Adams Wealth Advisors LLC grew its stake in shares of BridgeBio Pharma by 49.2% during the second quarter. Moss Adams Wealth Advisors LLC now owns 24,172 shares of the company’s stock valued at $1,044,000 after purchasing an additional 7,970 shares during the last quarter. Bosun Asset Management LLC increased its holdings in shares of BridgeBio Pharma by 119.7% in the second quarter. Bosun Asset Management LLC now owns 26,154 shares of the company’s stock valued at $1,129,000 after purchasing an additional 14,250 shares in the last quarter. Finally, Bryce Point Capital LLC bought a new position in BridgeBio Pharma in the 2nd quarter worth approximately $598,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

BBIO has been the topic of a number of recent research reports. Wells Fargo & Company increased their price objective on BridgeBio Pharma from $76.00 to $84.00 and gave the company an “overweight” rating in a research report on Tuesday, November 11th. Cantor Fitzgerald upped their price target on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research note on Thursday, October 30th. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. JPMorgan Chase & Co. boosted their price objective on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, November 7th. Finally, Raymond James Financial reaffirmed an “outperform” rating and issued a $71.00 target price (up previously from $69.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Twenty-two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $78.85.

BridgeBio Pharma Trading Up 4.6%

NASDAQ:BBIO opened at $77.25 on Monday. BridgeBio Pharma, Inc. has a 1-year low of $28.10 and a 1-year high of $78.58. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of -18.48 and a beta of 1.17. The business’s 50-day moving average price is $71.45 and its two-hundred day moving average price is $57.95.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The firm had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. BridgeBio Pharma’s revenue was up 4318.0% compared to the same quarter last year. During the same period in the previous year, the business posted ($0.86) earnings per share. Sell-side analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CAO Maricel Apuli sold 2,000 shares of the company’s stock in a transaction on Monday, December 8th. The shares were sold at an average price of $74.26, for a total value of $148,520.00. Following the completion of the sale, the chief accounting officer owned 130,297 shares in the company, valued at $9,675,855.22. This represents a 1.51% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 30,011 shares of the firm’s stock in a transaction on Monday, December 15th. The stock was sold at an average price of $74.64, for a total value of $2,240,021.04. Following the sale, the chief executive officer directly owned 228,776 shares in the company, valued at $17,075,840.64. The trade was a 11.60% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders have sold 547,215 shares of company stock valued at $36,610,301. Corporate insiders own 18.20% of the company’s stock.

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.