Legato Capital Management LLC Increases Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Legato Capital Management boosted its BridgeBio Pharma stake by 64.2% in the fourth quarter, buying 17,682 additional shares to reach 45,225 shares valued at about $3.46 million.
• BridgeBio reported mixed quarterly results: revenue of $194.52 million topped expectations and jumped 66.8% year over year, but EPS of -$0.84 missed analyst estimates of -$0.70.
• Analysts remain largely bullish on BBIO, with 23 Buy ratings and a consensus “Moderate Buy” target of $88.90, even as some insiders have recently sold shares.

Legato Capital Management LLC grew its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 64.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 45,225 shares of the company's stock after buying an additional 17,682 shares during the quarter. Legato Capital Management LLC's holdings in BridgeBio Pharma were worth $3,459,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in BBIO. Aster Capital Management DIFC Ltd purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $31,000. Harvest Fund Management Co. Ltd purchased a new stake in shares of BridgeBio Pharma during the 3rd quarter valued at about $34,000. Jones Financial Companies Lllp purchased a new stake in shares of BridgeBio Pharma during the 1st quarter valued at about $35,000. Huntington National Bank raised its position in shares of BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company's stock valued at $39,000 after buying an additional 392 shares in the last quarter. Finally, Farther Finance Advisors LLC raised its position in shares of BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company's stock valued at $39,000 after buying an additional 245 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Price Performance

BridgeBio Pharma stock opened at $69.12 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $31.77 and a 1-year high of $84.94. The firm has a market capitalization of $13.54 billion, a P/E ratio of -18.48 and a beta of 1.02. The company's 50-day moving average is $71.30 and its 200 day moving average is $71.86.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted 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 the consensus estimate of $178.07 million. During the same quarter in the prior year, the business earned ($0.88) earnings per share. BridgeBio Pharma's revenue for the quarter was up 66.8% compared to the same quarter last year. Research analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several analysts have recently issued reports on BBIO shares. Leerink Partners restated an "outperform" rating and set a $98.00 target price on shares of BridgeBio Pharma in a research report on Thursday, March 12th. William Blair initiated coverage on shares of BridgeBio Pharma in a research report on Tuesday, March 10th. They set an "outperform" rating on the stock. Truist Financial increased their price objective on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a research report on Wednesday, April 29th. Weiss Ratings reissued a "sell (d)" rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Mizuho reissued an "outperform" rating and issued a $106.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Twenty-three analysts have rated the stock with a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, BridgeBio Pharma has a consensus rating of "Moderate Buy" and a consensus price target of $88.90.

Insiders Place Their Bets

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the company's stock in a transaction dated Thursday, April 9th. The shares were sold at an average price of $74.62, for a total value of $2,984,800.00. Following the transaction, the chief executive officer directly owned 615,686 shares in the company, valued at $45,942,489.32. This represents a 6.10% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at 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 company's stock in a transaction dated Thursday, April 30th. The stock was sold at an average price of $71.58, for a total transaction of $143,160.00. Following the completion of the transaction, the chief accounting officer owned 134,115 shares in the company, valued at $9,599,951.70. This represents a 1.47% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last three months, insiders sold 210,572 shares of company stock worth $14,364,492. 14.23% of the stock is owned by company insiders.

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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