Atle Fund Management AB Acquires 14,132 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• Atle Fund Management AB increased its stake in BridgeBio Pharma by 9.3% during the second quarter, acquiring an additional 14,132 shares, bringing its total to 165,480 shares valued at approximately $7.1 million.
• BridgeBio Pharma reported a loss per share of ($0.95) for the last quarter, missing analyst estimates, despite achieving significant revenue growth of 4999.9% year-over-year, totaling $110.57 million.
• Major insider transactions included CFO Thomas Trimarchi selling 42,237 shares and Director Charles J. Homcy selling 250,000 shares, resulting in substantial decreases in their positions by 9.12% and 20.55% respectively.

Atle Fund Management AB lifted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 9.3% in the second quarter, according to its most recent disclosure with the SEC. The institutional investor owned 165,480 shares of the company's stock after buying an additional 14,132 shares during the quarter. BridgeBio Pharma comprises 3.0% of Atle Fund Management AB's holdings, making the stock its 12th biggest position. Atle Fund Management AB owned 0.09% of BridgeBio Pharma worth $7,145,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently modified their holdings of the company. GAMMA Investing LLC lifted its holdings in shares of BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after buying an additional 382 shares in the last quarter. Jones Financial Companies Lllp acquired a new stake in shares of BridgeBio Pharma during the first quarter worth $35,000. GF Fund Management CO. LTD. acquired a new stake in shares of BridgeBio Pharma during the fourth quarter worth $109,000. CWM LLC lifted its holdings in shares of BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after buying an additional 598 shares in the last quarter. Finally, Commerce Bank acquired a new stake in shares of BridgeBio Pharma during the first quarter worth $209,000. Institutional investors and hedge funds own 99.85% of the company's stock.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO traded down $0.83 during midday trading on Monday, hitting $51.54. 2,164,912 shares of the stock were exchanged, compared to its average volume of 2,945,531. The stock has a market capitalization of $9.85 billion, a price-to-earnings ratio of -12.60 and a beta of 1.25. The business's 50-day moving average price is $49.23 and its 200 day moving average price is $41.00. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $54.60.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.83) by ($0.12). The firm had revenue of $110.57 million during the quarter, compared to the consensus estimate of $98.46 million. The company's revenue was up 4999.9% on a year-over-year basis. During the same quarter in the prior year, the business posted ($0.39) EPS. As a group, sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BBIO. Cantor Fitzgerald reaffirmed an "overweight" rating and issued a $95.00 price target on shares of BridgeBio Pharma in a research note on Tuesday, July 29th. Bank of America boosted their price target on BridgeBio Pharma from $50.00 to $54.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Raymond James Financial began coverage on BridgeBio Pharma in a research note on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 price target for the company. Wall Street Zen raised BridgeBio Pharma from a "sell" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Piper Sandler boosted their price target on BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Seventeen investment analysts have rated the stock with a Buy rating, According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Buy" and an average target price of $63.94.

Insider Buying and Selling

In related news, Director Charles J. Homcy sold 250,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, August 8th. The stock was sold at an average price of $46.05, for a total value of $11,512,500.00. Following the transaction, the director directly owned 966,674 shares of the company's stock, valued at $44,515,337.70. The trade was a 20.55% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Frank Mccormick sold 100,000 shares of BridgeBio Pharma stock in a transaction that occurred on Tuesday, June 24th. The stock was sold at an average price of $44.23, for a total value of $4,423,000.00. Following the completion of the transaction, the director directly owned 879,979 shares in the company, valued at approximately $38,921,471.17. This represents a 10.20% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 4,202,620 shares of company stock valued at $187,174,970 over the last 90 days. 18.20% of the stock is currently owned by corporate insiders.

BridgeBio Pharma Company 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.