Tema Etfs LLC Has $5.02 Million Stock Holdings in BridgeBio Pharma, Inc. $BBIO

Tema Etfs LLC trimmed its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 21.9% in the third quarter, Holdings Channel.com reports. The firm owned 96,561 shares of the company’s stock after selling 27,026 shares during the quarter. Tema Etfs LLC’s holdings in BridgeBio Pharma were worth $5,015,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of BBIO. Jones Financial Companies Lllp acquired a new position in shares of BridgeBio Pharma in the first quarter valued at approximately $35,000. Intech Investment Management LLC boosted its stake in BridgeBio Pharma by 12.0% in the 1st quarter. Intech Investment Management LLC now owns 73,524 shares of the company’s stock worth $2,542,000 after purchasing an additional 7,877 shares during the period. Strs Ohio bought a new position in BridgeBio Pharma during the 1st quarter worth about $408,000. First Bank & Trust raised its stake in shares of BridgeBio Pharma by 3.9% in the 2nd quarter. First Bank & Trust now owns 8,822 shares of the company’s stock valued at $381,000 after purchasing an additional 329 shares during the period. Finally, Diversified Trust Co lifted its holdings in shares of BridgeBio Pharma by 10.7% in the second quarter. Diversified Trust Co now owns 38,605 shares of the company’s stock valued at $1,667,000 after purchasing an additional 3,739 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Trading Up 4.6%

Shares of BBIO opened at $77.25 on Monday. The company’s fifty day simple moving average is $71.45 and its 200 day simple moving average is $57.95. BridgeBio Pharma, Inc. has a 1-year low of $28.10 and a 1-year high of $78.58. The company has a market cap of $14.89 billion, a price-to-earnings ratio of -18.48 and a beta of 1.17.

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 business had revenue of $120.70 million for the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the prior year, the company posted ($0.86) EPS. BridgeBio Pharma’s revenue was up 4318.0% on a year-over-year basis. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Buying and Selling at BridgeBio Pharma

In other news, Director Ronald J. Daniels sold 61,031 shares of the firm’s stock in a transaction that occurred on Thursday, November 6th. The stock was sold at an average price of $63.72, for a total value of $3,888,895.32. Following the completion of the sale, the director directly owned 16,991 shares of the company’s stock, valued at $1,082,666.52. This trade represents a 78.22% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, Director Frank Mccormick sold 198,359 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, October 29th. The stock was sold at an average price of $66.58, for a total value of $13,206,742.22. Following the transaction, the director owned 679,979 shares of the company’s stock, valued at $45,273,001.82. This represents a 22.58% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 547,215 shares of company stock valued at $36,610,301 in the last three months. Corporate insiders own 18.20% of the company’s stock.

Analysts Set New Price Targets

A number of research firms recently issued reports on BBIO. Leerink Partners increased their price objective on BridgeBio Pharma from $75.00 to $86.00 and gave the stock an “outperform” rating in a report on Monday, December 15th. Evercore ISI reiterated an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. Wells Fargo & Company boosted their price objective on shares of BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, October 8th. Finally, TD Cowen boosted their price target on shares of BridgeBio Pharma from $60.00 to $95.00 and gave the stock a “buy” rating in a research report on Thursday, October 30th. Twenty-two equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $78.85.

About BridgeBio Pharma

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.