BridgeBio Pharma, Inc. $BBIO is Monashee Investment Management LLC’s Largest Position

Monashee Investment Management LLC reduced its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 21.6% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 200,000 shares of the company’s stock after selling 55,000 shares during the period. BridgeBio Pharma makes up 5.2% of Monashee Investment Management LLC’s portfolio, making the stock its largest holding. Monashee Investment Management LLC’s holdings in BridgeBio Pharma were worth $10,388,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Mitsubishi UFJ Asset Management Co. Ltd. purchased a new position in shares of BridgeBio Pharma during the second quarter valued at about $25,000. Aster Capital Management DIFC Ltd bought a new position in BridgeBio Pharma during the third quarter valued at approximately $31,000. Jones Financial Companies Lllp purchased a new position in BridgeBio Pharma during the 1st quarter valued at approximately $35,000. First Horizon Corp purchased a new position in BridgeBio Pharma during the 3rd quarter valued at approximately $36,000. Finally, Huntington National Bank increased its stake in BridgeBio Pharma by 111.7% in the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock worth $39,000 after acquiring an additional 392 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Activity

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the business’s stock in a transaction that occurred on Monday, December 8th. The stock was sold at an average price of $74.26, for a total transaction of $148,520.00. Following the completion of the transaction, the chief accounting officer owned 130,297 shares in the company, valued at $9,675,855.22. The trade was a 1.51% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, December 4th. The shares were sold at an average price of $74.40, for a total value of $2,976,000.00. Following the transaction, the chief executive officer directly owned 775,686 shares in the company, valued at approximately $57,711,038.40. This represents a 4.90% decrease in their position. The SEC filing for this sale provides additional information. Insiders sold a total of 204,174 shares of company stock valued at $15,012,335 in the last quarter. 18.20% of the stock is currently owned by company insiders.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $66.48 on Friday. The firm has a market capitalization of $12.89 billion, a PE ratio of -17.59 and a beta of 1.13. The stock’s fifty day moving average is $74.76 and its 200 day moving average is $64.80. BridgeBio Pharma, Inc. has a fifty-two week low of $28.33 and a fifty-two week high of $84.94.

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

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on BBIO. Sanford C. Bernstein began coverage on BridgeBio Pharma in a report on Thursday, December 11th. They set an “outperform” rating and a $94.00 price objective on the stock. JPMorgan Chase & Co. boosted their price target on shares of BridgeBio Pharma from $76.00 to $77.00 and gave the stock an “overweight” rating in a research report on Friday, November 7th. Wells Fargo & Company upped their price target on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a research note on Friday, February 13th. TD Cowen reissued a “buy” rating on shares of BridgeBio Pharma in a research note on Monday, January 12th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a research report on Wednesday, January 21st. Twenty-two equities research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the stock. According to data from MarketBeat, the stock presently has an average 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.