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

Monashee Investment Management LLC cut its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 32.9% during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 67,139 shares of the company’s stock after selling 32,861 shares during the quarter. BridgeBio Pharma accounts for 2.7% of Monashee Investment Management LLC’s portfolio, making the stock its 12th biggest holding. Monashee Investment Management LLC’s holdings in BridgeBio Pharma were worth $4,986,000 as of its most recent SEC filing.

Several other large investors have also recently bought and sold shares of BBIO. Global Retirement Partners LLC raised its position in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares in the last quarter. Farther Finance Advisors LLC boosted its position in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after purchasing an additional 245 shares in the last quarter. Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth $41,000. Cary Street Partners Investment Advisory LLC grew its stake in shares of BridgeBio Pharma by 861.0% during the 4th quarter. Cary Street Partners Investment Advisory LLC now owns 567 shares of the company’s stock worth $43,000 after purchasing an additional 508 shares during the period. Finally, Eurizon Capital SGR S.p.A. purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at about $44,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insiders Place Their Bets

In related news, CFO Thomas Trimarchi sold 13,651 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, May 18th. The stock was 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 in the company, valued at $23,376,345.52. The trade was a 3.66% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Hannah Valantine sold 2,196 shares of the company’s stock in a transaction that occurred on Tuesday, June 23rd. The shares were sold at an average price of $68.57, for a total value of $150,579.72. Following the completion of the sale, the director directly owned 9,259 shares in the company, valued at approximately $634,889.63. The trade was a 19.17% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 432,117 shares of company stock valued at $32,633,740. Corporate insiders own 14.23% of the company’s stock.

Analyst Upgrades and Downgrades

BBIO has been the subject of several recent analyst reports. Truist Financial raised their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Raymond James Financial cut shares of BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a report on Tuesday, May 26th. Mizuho reduced their price target on shares of BridgeBio Pharma from $106.00 to $96.00 and set an “outperform” rating for the company in a research report on Tuesday, June 16th. HC Wainwright boosted their price target on BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Finally, Canaccord Genuity Group began coverage on BridgeBio Pharma in a research note on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price target on the stock. Twenty research 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 price target of $95.21.

BridgeBio Pharma Stock Up 0.3%

BridgeBio Pharma stock opened at $82.66 on Thursday. BridgeBio Pharma, Inc. has a 52 week low of $42.09 and a 52 week high of $93.42. The firm’s 50-day simple moving average is $72.07 and its 200 day simple moving average is $72.41. The firm has a market capitalization of $16.19 billion, a PE ratio of -22.10 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results 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 business had revenue of $194.51 million for the quarter, compared to analysts’ expectations of $178.07 million. The company’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the prior year, the business earned ($0.88) EPS. On average, research analysts expect that BridgeBio Pharma, Inc. will post -2.29 EPS for the current fiscal year.

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.