2,750,000 Shares in BridgeBio Pharma, Inc. $BBIO Purchased by Brooklands Fund Management Ltd

Key Points

• Brooklands Fund Management Ltd disclosed a new fourth-quarter position in BridgeBio Pharma, buying 2.75 million shares worth about $210.3 million. The stake represents roughly 27.5% of its portfolio and about 1.43% of BridgeBio.
• Several insiders have recently sold shares, including CFO Thomas Trimarchi and Director Randal W. Scott. In the last 90 days, insiders collectively sold 171,754 shares valued at about $11.9 million.
• BridgeBio reported mixed quarterly results, with EPS of -$0.84 missing estimates but revenue of $194.5 million beating expectations and rising 66.8% year over year. Analysts remain broadly positive overall, with a consensus rating of Moderate Buy and an average price target of $89.59.

Brooklands Fund Management Ltd bought a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm bought 2,750,000 shares of the company's stock, valued at approximately $210,348,000. BridgeBio Pharma comprises about 27.5% of Brooklands Fund Management Ltd's investment portfolio, making the stock its 2nd biggest position. Brooklands Fund Management Ltd owned approximately 1.43% of BridgeBio Pharma as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Commonwealth Equity Services LLC grew its stake in shares of BridgeBio Pharma by 4.9% in the fourth quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company's stock worth $396,000 after purchasing an additional 244 shares during the last quarter. Farther Finance Advisors LLC grew its stake in shares of BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after purchasing an additional 245 shares during the last quarter. State of New Jersey Common Pension Fund D grew its stake in shares of BridgeBio Pharma by 0.5% in the fourth quarter. State of New Jersey Common Pension Fund D now owns 51,896 shares of the company's stock worth $3,970,000 after purchasing an additional 246 shares during the last quarter. CWM LLC grew its stake in shares of BridgeBio Pharma by 4.3% in the fourth quarter. CWM LLC now owns 6,444 shares of the company's stock worth $493,000 after purchasing an additional 265 shares during the last quarter. Finally, Xponance LLC grew its stake in shares of BridgeBio Pharma by 2.2% in the fourth quarter. Xponance LLC now owns 12,536 shares of the company's stock worth $959,000 after purchasing an additional 272 shares during the last quarter. 99.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, CFO Thomas Trimarchi sold 13,651 shares of the business's stock in a transaction that occurred on Monday, May 18th. The shares were sold at an average price of $65.08, for a total value 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 legal filing with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of BridgeBio Pharma stock in a transaction on Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company's stock, valued at approximately $778,201.35. The trade was a 46.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last 90 days, insiders sold 171,754 shares of company stock valued at $11,914,859. 14.23% of the stock is owned by company insiders.

BridgeBio Pharma Stock Up 1.8%

Shares of BBIO opened at $68.00 on Tuesday. The business's 50 day moving average price is $70.12 and its 200-day moving average price is $72.10. BridgeBio Pharma, Inc. has a 52 week low of $39.63 and a 52 week high of $84.94. The stock has a market cap of $13.32 billion, a P/E ratio of -18.18 and a beta of 0.98.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to analysts' expectations of $178.07 million. During the same quarter in the prior year, the company posted ($0.88) earnings per share. The firm's quarterly revenue was up 66.8% on a year-over-year basis. On average, equities analysts anticipate that BridgeBio Pharma, Inc. will post -2.32 EPS for the current year.

Analyst Ratings Changes

Several analysts have commented on BBIO shares. Weiss Ratings restated a "sell (d)" rating on shares of BridgeBio Pharma in a report on Friday, May 15th. Oppenheimer lowered their price objective on shares of BridgeBio Pharma from $83.00 to $81.00 and set an "outperform" rating for the company in a report on Wednesday, February 25th. Citigroup started coverage on shares of BridgeBio Pharma in a report on Tuesday, May 19th. They issued a "neutral" rating and a $82.00 price objective for the company. Morgan Stanley raised their price objective on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an "overweight" rating in a report on Thursday, May 28th. Finally, JPMorgan Chase & Co. raised their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the stock an "overweight" rating in a report on Tuesday, March 10th. Twenty-three analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus price target of $89.59.

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.

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