Atle Fund Management AB Sells 33,426 Shares of BridgeBio Pharma, Inc. $BBIO

Key Points

• Atle Fund Management AB reduced its BridgeBio Pharma stake by 19.1% in the fourth quarter, selling 33,426 shares and leaving it with 141,296 shares worth about $10.8 million.
• BridgeBio insiders have also been selling: CFO Thomas Trimarchi and CEO Neil Kumar both trimmed holdings under pre-arranged 10b5-1 plans, and insiders sold 238,625 shares over the last 90 days.
• Analysts remain upbeat despite the company missing EPS estimates in its latest quarter; BridgeBio posted stronger-than-expected revenue growth of 66.8% year over year, and the stock has a consensus rating of “Moderate Buy” with an average target price of $88.90.

Atle Fund Management AB decreased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 19.1% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 141,296 shares of the company's stock after selling 33,426 shares during the period. BridgeBio Pharma makes up 3.4% of Atle Fund Management AB's portfolio, making the stock its 8th biggest position. Atle Fund Management AB owned about 0.07% of BridgeBio Pharma worth $10,808,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also made changes to their positions in BBIO. Aster Capital Management DIFC Ltd acquired a new stake in shares of BridgeBio Pharma during the third quarter valued at approximately $31,000. Harvest Fund Management Co. Ltd bought a new position in BridgeBio Pharma during the third quarter worth $34,000. Jones Financial Companies Lllp bought a new position in BridgeBio Pharma during the first quarter worth $35,000. Huntington National Bank increased its position in BridgeBio Pharma by 111.7% during the third quarter. Huntington National Bank now owns 743 shares of the company's stock worth $39,000 after acquiring an additional 392 shares during the period. Finally, Farther Finance Advisors LLC increased its position in BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock worth $39,000 after acquiring an additional 245 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Activity at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 13,651 shares of the 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 sale, the chief financial officer directly owned 359,194 shares in the company, valued at $23,376,345.52. This trade represents a 3.66% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction that occurred on Thursday, May 7th. The shares were sold at an average price of $67.90, for a total transaction of $2,716,000.00. Following the completion of the sale, the chief executive officer directly owned 575,686 shares of the company's stock, valued at $39,089,079.40. The trade was a 6.50% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold 238,625 shares of company stock worth $16,367,196 over the last 90 days. Insiders own 14.23% of the company's stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $66.00 on Wednesday. BridgeBio Pharma, Inc. has a one year low of $31.77 and a one year high of $84.94. The company has a 50 day moving average of $71.37 and a 200-day moving average of $71.79. The stock has a market cap of $12.93 billion, a price-to-earnings ratio of -17.65 and a beta of 1.02.

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 the consensus estimate of ($0.70) by ($0.14). The firm had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period last year, the company posted ($0.88) EPS. BridgeBio Pharma's revenue for the quarter was up 66.8% compared to the same quarter last year. Equities research analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities analysts have recently commented on the stock. Wells Fargo & Company raised their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the stock an "overweight" rating in a report on Friday, February 13th. 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. HC Wainwright upped their target price on shares of BridgeBio Pharma from $100.00 to $110.00 and gave the stock a "buy" rating in a report on Monday, May 11th. Morgan Stanley upped their target price on shares of BridgeBio Pharma from $96.00 to $98.00 and gave the stock an "overweight" rating in a report on Wednesday, February 25th. Finally, Mizuho reaffirmed an "outperform" rating and issued a $106.00 target price on shares of BridgeBio Pharma in a report on Tuesday, April 28th. Twenty-three equities research analysts have rated the stock with a Buy rating, one has given a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and an average price target of $88.90.

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.

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