BridgeBio Pharma, Inc. $BBIO Shares Purchased by Atle Fund Management AB

Atle Fund Management AB raised its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.6% during the 3rd quarter, according to its most recent filing with the SEC. The firm owned 174,722 shares of the company’s stock after buying an additional 9,242 shares during the quarter. BridgeBio Pharma comprises about 3.5% of Atle Fund Management AB’s holdings, making the stock its 7th largest position. Atle Fund Management AB’s holdings in BridgeBio Pharma were worth $9,075,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Strs Ohio lifted its stake in shares of BridgeBio Pharma by 1.1% in the 3rd quarter. Strs Ohio now owns 18,600 shares of the company’s stock worth $966,000 after acquiring an additional 200 shares during the period. GAMMA Investing LLC increased its stake in shares of BridgeBio Pharma by 28.6% during the third quarter. GAMMA Investing LLC now owns 1,020 shares of the company’s stock worth $53,000 after acquiring an additional 227 shares during the period. Steward Partners Investment Advisory LLC raised its holdings in BridgeBio Pharma by 22.3% during the second quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock worth $54,000 after purchasing an additional 228 shares in the last quarter. Gabelli Funds LLC lifted its position in BridgeBio Pharma by 0.3% in the second quarter. Gabelli Funds LLC now owns 73,750 shares of the company’s stock valued at $3,185,000 after purchasing an additional 250 shares during the period. Finally, Main Management ETF Advisors LLC lifted its position in BridgeBio Pharma by 1.7% in the second quarter. Main Management ETF Advisors LLC now owns 22,723 shares of the company’s stock valued at $981,000 after purchasing an additional 372 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently issued reports on the company. Evercore ISI reissued an “outperform” rating on shares of BridgeBio Pharma in a research note on Monday, October 27th. HC Wainwright reiterated a “buy” rating and issued a $90.00 price objective on shares of BridgeBio Pharma in a research report on Monday, November 3rd. The Goldman Sachs Group raised their target price on BridgeBio Pharma from $55.00 to $100.00 and gave the company a “buy” rating in a report on Thursday, October 30th. Leerink Partners boosted their target price on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a research report on Monday, December 15th. Finally, Wells Fargo & Company increased their price target on shares of BridgeBio Pharma from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Twenty-two research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus target price of $79.05.

BridgeBio Pharma Stock Performance

BridgeBio Pharma stock opened at $77.27 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $81.32. The firm has a market capitalization of $14.89 billion, a price-to-earnings ratio of -18.49 and a beta of 1.17. The stock’s fifty day moving average is $75.39 and its two-hundred day moving average is $61.31.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Wednesday, October 29th. The company reported ($0.95) EPS for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The company had revenue of $120.70 million for the quarter, compared to analyst estimates of $107.71 million. The firm’s quarterly revenue was up 4318.0% on a year-over-year basis. During the same quarter in the previous year, the company earned ($0.86) EPS. As a group, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CFO Thomas Trimarchi sold 16,934 shares of the stock in a transaction on Monday, November 17th. The stock was sold at an average price of $66.46, for a total transaction of $1,125,433.64. Following the sale, the chief financial officer owned 382,830 shares in the company, valued at approximately $25,442,881.80. This represents a 4.24% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Andrew Lo sold 55,000 shares of the business’s stock in a transaction on Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total value of $3,612,950.00. Following the completion of the transaction, the director directly owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. This trade represents a 52.09% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 387,215 shares of company stock valued at $26,255,694 in the last quarter. 18.20% of the stock is owned by corporate insiders.

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.