BridgeBio Pharma, Inc. $BBIO Shares Sold by Boone Capital Management LLC

Key Points

• Boone Capital Management cut its BridgeBio Pharma stake by 59.8% in the fourth quarter, selling 275,319 shares and ending with 184,963 shares valued at about $14.1 million.
• BridgeBio saw notable insider selling, including CEO Neil Kumar’s sale of 40,000 shares for $2.7 million under a pre-arranged trading plan; insiders sold 261,994 shares over the last quarter.
• The company posted mixed quarterly results, with revenue of $194.5 million beating estimates but EPS of -$0.84 missing forecasts. Analysts remain broadly positive, with a consensus rating of “Moderate Buy” and an average price target of $91.05.

Boone Capital Management LLC lowered its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 59.8% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 184,963 shares of the company's stock after selling 275,319 shares during the quarter. BridgeBio Pharma accounts for approximately 4.7% of Boone Capital Management LLC's holdings, making the stock its 11th biggest holding. Boone Capital Management LLC owned about 0.10% of BridgeBio Pharma worth $14,148,000 at the end of the most recent quarter.

Other institutional investors have also recently added to or reduced their stakes in the company. TD Asset Management Inc acquired a new position in BridgeBio Pharma in the 3rd quarter worth $4,620,000. L & S Advisors Inc acquired a new position in BridgeBio Pharma in the 3rd quarter worth $877,000. HighVista Strategies LLC lifted its holdings in BridgeBio Pharma by 21.4% in the 3rd quarter. HighVista Strategies LLC now owns 81,959 shares of the company's stock worth $4,257,000 after buying an additional 14,460 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in BridgeBio Pharma in the 4th quarter worth $789,000. Finally, Allspring Global Investments Holdings LLC lifted its holdings in BridgeBio Pharma by 14,211.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company's stock worth $77,783,000 after buying an additional 987,273 shares in the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling at BridgeBio Pharma

In related news, CEO Neil Kumar sold 40,000 shares of the business's stock in a transaction dated Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the completion of the sale, the chief executive officer owned 535,686 shares of the company's stock, valued at $36,137,377.56. This represents a 6.95% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CAO Maricel Apuli sold 2,000 shares of the business's stock in a transaction dated Thursday, April 30th. The shares were sold at an average price of $71.58, for a total transaction of $143,160.00. Following the sale, the chief accounting officer directly owned 134,115 shares of the company's stock, valued at approximately $9,599,951.70. This represents a 1.47% decrease in their position. The SEC filing for this sale provides additional information. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 261,994 shares of company stock worth $17,926,648. 14.23% of the stock is owned by company insiders.

BridgeBio Pharma Stock Up 1.1%

Shares of NASDAQ:BBIO opened at $67.39 on Thursday. BridgeBio Pharma, Inc. has a fifty-two week low of $39.65 and a fifty-two week high of $84.94. The firm has a 50-day simple moving average of $69.89 and a 200 day simple moving average of $72.04. The company has a market cap of $13.20 billion, a PE ratio of -18.02 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to analyst estimates of $178.07 million. During the same period in the previous year, the company posted ($0.88) earnings per share. The firm's revenue was up 66.8% on a year-over-year basis. As a group, research analysts forecast that BridgeBio Pharma, Inc. will post -2.32 EPS for the current fiscal year.

Analysts Set New Price Targets

BBIO has been the topic of a number of recent analyst reports. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Royal Bank Of Canada assumed coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They issued an "outperform" rating and a $100.00 target price on the stock. Citigroup assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, May 19th. They issued a "neutral" rating and a $82.00 target price on the stock. William Blair assumed coverage on shares of BridgeBio Pharma in a research note on Tuesday, March 10th. They issued an "outperform" rating on the stock. Finally, Raymond James Financial lowered shares of BridgeBio Pharma from an "outperform" rating to a "market perform" rating in a research note on Tuesday, May 26th. Twenty-two analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and a consensus target price of $91.05.

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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