175,000 Shares in BridgeBio Pharma, Inc. $BBIO Bought by Monashee Investment Management LLC

Key Points

• Monashee Investment Management LLC purchased 175,000 shares of BridgeBio Pharma, valued at approximately $6,050,000, making it the firm's 21st largest holding, which represents 0.7% of their portfolio.
• BridgeBio's stock has seen significant institutional interest, with institutional investors currently owning 99.85% of the company.
• Despite a substantial quarterly revenue increase of 4999.9%, the company's reported earnings per share came in below analysts' expectations.

Monashee Investment Management LLC bought a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 175,000 shares of the company's stock, valued at approximately $6,050,000. BridgeBio Pharma makes up approximately 0.7% of Monashee Investment Management LLC's holdings, making the stock its 21st largest holding. Monashee Investment Management LLC owned 0.09% of BridgeBio Pharma at the end of the most recent quarter.

Several other institutional investors also recently bought and sold shares of BBIO. Legal & General Group Plc raised its holdings in BridgeBio Pharma by 2.8% during the fourth quarter. Legal & General Group Plc now owns 134,038 shares of the company's stock valued at $3,678,000 after buying an additional 3,706 shares in the last quarter. Raymond James Financial Inc. bought a new position in BridgeBio Pharma during the fourth quarter valued at about $456,000. Sterling Capital Management LLC raised its holdings in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after buying an additional 1,514 shares in the last quarter. XTX Topco Ltd bought a new position in BridgeBio Pharma during the fourth quarter valued at about $366,000. Finally, MetLife Investment Management LLC raised its holdings in BridgeBio Pharma by 5.9% during the fourth quarter. MetLife Investment Management LLC now owns 85,963 shares of the company's stock valued at $2,359,000 after buying an additional 4,797 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Insider Buying and Selling at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 17,353 shares of BridgeBio Pharma stock in a transaction dated Monday, August 18th. The stock was sold at an average price of $50.23, for a total transaction of $871,641.19. Following the sale, the chief financial officer directly owned 463,318 shares of the company's stock, valued at $23,272,463.14. This trade represents a 3.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CAO Maricel Apuli sold 1,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, August 7th. The stock was sold at an average price of $45.44, for a total value of $45,440.00. Following the sale, the chief accounting officer directly owned 141,859 shares in the company, valued at approximately $6,446,072.96. This trade represents a 0.70% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,024,519 shares of company stock valued at $177,992,388 over the last quarter. Company insiders own 18.20% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on the company. HC Wainwright raised their target price on BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a report on Monday, June 9th. UBS Group raised their price target on BridgeBio Pharma from $65.00 to $72.00 and gave the company a "buy" rating in a research report on Wednesday, April 30th. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, July 29th. Scotiabank raised their price target on BridgeBio Pharma from $55.00 to $57.00 and gave the company a "sector outperform" rating in a research report on Wednesday, August 6th. Finally, Raymond James Financial began coverage on BridgeBio Pharma in a research report on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 price target on the stock. Seventeen analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the company currently has a consensus rating of "Buy" and an average price target of $61.35.

BridgeBio Pharma Stock Down 0.1%

BBIO stock opened at $48.88 on Thursday. BridgeBio Pharma, Inc. has a twelve month low of $21.72 and a twelve month high of $51.86. The company has a market cap of $9.34 billion, a PE ratio of -11.95 and a beta of 1.23. The business's 50-day simple moving average is $45.48 and its 200 day simple moving average is $38.21.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The company had revenue of $110.57 million during the quarter, compared to analyst estimates of $98.46 million. During the same quarter in the previous year, the business posted ($0.39) earnings per share. The firm's quarterly revenue was up 4999.9% compared to the same quarter last year. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc, a commercial-stage biopharmaceutical company, discovers, creates, tests, and delivers transformative medicines to treat patients who suffer from genetic diseases and cancers. Its products in development programs include AG10, a next-generation oral small molecule near-complete TTR stabilizer that is in Phase 3 clinical trial for the treatment of TTR amyloidosis, or transthyretin amyloid cardiomyopathy (ATTR-CM); low-dose infigratinib, an oral FGFR1-3 selective tyrosine kinase inhibitor, which is in Phase 3 double-blinded, placebo-controlled pivotal study for the treatment option for children with achondroplasia; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 1/2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.

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