Monashee Investment Management LLC Lowers Holdings in BridgeBio Pharma, Inc. $BBIO

Monashee Investment Management LLC lessened its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 200,000 shares of the company’s stock after selling 55,000 shares during the quarter. BridgeBio Pharma comprises about 5.2% of Monashee Investment Management LLC’s investment portfolio, making the stock its biggest holding. Monashee Investment Management LLC owned 0.10% of BridgeBio Pharma worth $10,388,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently made changes to their positions in BBIO. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma in the first quarter worth approximately $35,000. Envestnet Asset Management Inc. lifted its holdings in shares of BridgeBio Pharma by 204.1% during the 2nd quarter. Envestnet Asset Management Inc. now owns 39,487 shares of the company’s stock valued at $1,705,000 after buying an additional 26,500 shares during the period. Teacher Retirement System of Texas boosted its stake in shares of BridgeBio Pharma by 8.3% in the 2nd quarter. Teacher Retirement System of Texas now owns 35,817 shares of the company’s stock worth $1,547,000 after buying an additional 2,759 shares during the last quarter. New York Life Investment Management LLC bought a new stake in shares of BridgeBio Pharma in the second quarter worth $548,000. Finally, Bank of Montreal Can grew its holdings in shares of BridgeBio Pharma by 6.0% in the second quarter. Bank of Montreal Can now owns 9,865 shares of the company’s stock worth $426,000 after acquiring an additional 556 shares during the period. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, CFO Thomas Trimarchi sold 13,600 shares of the business’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $74.72, for a total value of $1,016,192.00. Following the transaction, the chief financial officer directly owned 336,585 shares of the company’s stock, valued at approximately $25,149,631.20. The trade was a 3.88% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the completion of the transaction, the director owned 11,589 shares of the company’s stock, valued at $874,505.94. The trade was a 46.32% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 204,174 shares of company stock valued at $15,012,335 in the last ninety days. Insiders own 18.20% of the company’s stock.

BridgeBio Pharma Price Performance

BBIO opened at $66.48 on Friday. The company has a 50 day simple moving average of $74.76 and a two-hundred day simple moving average of $64.80. The firm has a market cap of $12.89 billion, a P/E ratio of -17.59 and a beta of 1.13. BridgeBio Pharma, Inc. has a 1-year low of $28.33 and a 1-year high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The firm had revenue of $154.18 million for the quarter, compared to analysts’ expectations of $150.71 million. BridgeBio Pharma’s revenue for the quarter was up 2521.2% on a year-over-year basis. During the same quarter last year, the firm earned ($1.40) EPS. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Analyst Ratings Changes

Several research analysts have issued reports on BBIO shares. JPMorgan Chase & Co. raised their target price on BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Leerink Partners raised their price objective on shares of BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Oppenheimer cut their target price on shares of BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday. Raymond James Financial set a $89.00 price target on shares of BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Thursday, February 12th. Finally, Wells Fargo & Company lifted their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an “overweight” rating in a research note on Friday, February 13th. Twenty-two investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average price target of $82.50.

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.