BridgeBio Pharma, Inc. $BBIO Shares Sold by Exome Asset Management LLC

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 cut its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 32.9% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund 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 holdings, making the stock its 2nd biggest position. Exome Asset Management LLC owned approximately 0.09% of BridgeBio Pharma worth $5,721,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its stake in BridgeBio Pharma by 71.0% during the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares during the last quarter. Xponance Inc. lifted its position in shares of BridgeBio Pharma by 3.8% during the 1st quarter. Xponance Inc. now owns 10,474 shares of the company's stock valued at $362,000 after acquiring an additional 385 shares during the last quarter. Mackenzie Financial Corp grew its holdings in shares of BridgeBio Pharma by 6.6% in the 4th quarter. Mackenzie Financial Corp now owns 9,505 shares of the company's stock worth $261,000 after acquiring an additional 592 shares during the last quarter. CWM LLC grew its holdings in shares of BridgeBio Pharma by 12.8% in 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 last quarter. Finally, GF Fund Management CO. LTD. raised its position in shares of BridgeBio Pharma by 22.0% during the first quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company's stock worth $167,000 after purchasing an additional 871 shares during the period. Institutional investors own 99.85% of the company's stock.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO traded down $1.39 during trading hours on Friday, hitting $51.21. 2,087,756 shares of the stock were exchanged, compared to its average volume of 2,190,681. BridgeBio Pharma, Inc. has a one year low of $21.72 and a one year high of $54.60. The company's 50 day moving average is $48.54 and its 200 day moving average is $40.27. The firm has a market capitalization of $9.79 billion, a P/E ratio of -12.52 and a beta of 1.25.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last announced its 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 company had revenue of $110.57 million during the quarter, compared to analysts' expectations of $98.46 million. During the same period last year, the firm posted ($0.39) EPS. The firm's revenue for the quarter was up 4999.9% compared to the same quarter last year. Research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on BBIO shares. Citigroup lifted their price target on BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. Oppenheimer boosted their price target on shares of BridgeBio Pharma from $60.00 to $61.00 and gave the company an "outperform" rating in a report on Wednesday, August 6th. Wolfe Research began coverage on shares of BridgeBio Pharma in a research note on Tuesday, June 17th. They issued an "outperform" rating and a $49.00 price objective for the company. Piper Sandler boosted their target price on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the company an "overweight" rating in a research note on Monday, July 14th. Finally, Scotiabank upped their price objective on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the company a "sector outperform" rating in a research note on Wednesday, August 6th. Seventeen equities research analysts have rated the stock with a Buy rating, According to MarketBeat, the stock presently has an average rating of "Buy" and an average target price of $63.94.

Insider Buying and Selling

In other news, CFO Thomas Trimarchi sold 42,237 shares of the firm's stock in a transaction dated Thursday, August 21st. The shares were sold at an average price of $49.48, for a total transaction 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 approximately $20,835,087.88. This trade represents a 9.12% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Global Investors Lp Viking sold 3,500,000 shares of BridgeBio Pharma stock in a transaction that occurred on Friday, June 27th. The shares were sold at an average price of $44.00, for a total value of $154,000,000.00. Following the sale, the insider directly owned 18,555,375 shares in the company, valued at $816,436,500. The trade was a 15.87% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders have sold 4,202,620 shares of company stock worth $187,174,970. Insiders own 18.20% of the company's stock.

BridgeBio Pharma 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.