BridgeBio Pharma, Inc. $BBIO is Exome Asset Management LLC's 2nd Largest Position

Key Points

• Exome Asset Management LLC has reduced its stake in BridgeBio Pharma by 32.9%, owning 165,496 shares after selling 81,204 shares in the first quarter.
• BridgeBio Pharma reported earnings of ($0.95) per share, missing the consensus estimate, but significantly increased revenue to $110.57 million, marking a year-over-year growth of 4999.9%.
• Analysts have mostly rated BridgeBio Pharma with a Buy rating, with a consensus target price of $63.35 following recent coverage updates from firms like Jefferies and Piper Sandler.

Exome Asset Management LLC trimmed its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 32.9% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 165,496 shares of the company's stock after selling 81,204 shares during the quarter. BridgeBio Pharma comprises 4.9% of Exome Asset Management LLC's investment portfolio, making the stock its 2nd biggest holding. Exome Asset Management LLC owned 0.09% of BridgeBio Pharma worth $5,721,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. GAMMA Investing LLC lifted its position in BridgeBio Pharma by 71.0% during the 1st quarter. GAMMA Investing LLC now owns 920 shares of the company's stock worth $32,000 after acquiring an additional 382 shares during the period. Jones Financial Companies Lllp acquired a new stake in BridgeBio Pharma during the 1st quarter worth approximately $35,000. GF Fund Management CO. LTD. acquired a new stake in BridgeBio Pharma during the 4th quarter worth approximately $109,000. CWM LLC lifted its position in BridgeBio Pharma by 12.8% during the 1st quarter. CWM LLC now owns 5,261 shares of the company's stock worth $182,000 after acquiring an additional 598 shares during the period. Finally, Commerce Bank acquired a new stake in BridgeBio Pharma during the 1st quarter worth approximately $209,000. 99.85% of the stock is owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Down 2.6%

NASDAQ BBIO traded down $1.39 during mid-day trading on Friday, hitting $51.21. The stock had a trading volume of 2,087,756 shares, compared to its average volume of 2,183,994. BridgeBio Pharma, Inc. has a 52-week low of $21.72 and a 52-week high of $54.60. The company has a market cap of $9.79 billion, a price-to-earnings ratio of -12.52 and a beta of 1.25. The company has a 50 day simple moving average of $48.54 and a 200 day simple moving average of $40.36.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last released its quarterly earnings data 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 company had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. During the same period in the prior year, the firm earned ($0.39) earnings per share. BridgeBio Pharma's quarterly revenue was up 4999.9% compared to the same quarter last year. As a group, equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

BBIO has been the subject of a number of analyst reports. JPMorgan Chase & Co. increased their target price on BridgeBio Pharma from $55.00 to $70.00 and gave the stock an "overweight" rating in a research note on Wednesday, September 3rd. Citigroup increased their target price on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Truist Financial initiated coverage on BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 target price for the company. Wells Fargo & Company increased their target price on BridgeBio Pharma from $67.00 to $76.00 and gave the stock an "overweight" rating in a research note on Monday, June 30th. Finally, Wolfe Research initiated coverage on BridgeBio Pharma in a research note on Tuesday, June 17th. They set an "outperform" rating and a $49.00 target price for the company. Seventeen equities research analysts have rated the stock with a Buy rating, Based on data from MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $63.94.

Insider Transactions at BridgeBio Pharma

In related news, CFO Thomas Trimarchi sold 42,237 shares of the firm's stock in a transaction that occurred on Thursday, August 21st. The stock was sold at an average price of $49.48, for a total value of $2,089,886.76. Following the completion of the transaction, the chief financial officer directly owned 421,081 shares of the company's stock, valued at $20,835,087.88. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Global Investors Lp Viking sold 3,500,000 shares of the firm's stock in a transaction on Friday, June 27th. The stock was sold at an average price of $44.00, for a total value of $154,000,000.00. Following the transaction, the insider directly owned 18,555,375 shares of the company's stock, valued at $816,436,500. The trade was a 15.87% decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 4,202,620 shares of company stock worth $187,174,970 over the last ninety days. 18.20% of the stock is currently owned by corporate insiders.

About BridgeBio Pharma

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.