Tema Etfs LLC Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Tema Etfs LLC acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 141,972 shares of the company's stock, valued at approximately $3,896,000. BridgeBio Pharma makes up about 1.6% of Tema Etfs LLC's portfolio, making the stock its 23rd largest position. Tema Etfs LLC owned approximately 0.08% of BridgeBio Pharma at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in BBIO. Steward Partners Investment Advisory LLC boosted its stake in BridgeBio Pharma by 85.8% during the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Itau Unibanco Holding S.A. bought a new position in BridgeBio Pharma during the fourth quarter valued at about $41,000. Sterling Capital Management LLC boosted its stake in BridgeBio Pharma by 554.6% during the fourth quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock valued at $49,000 after buying an additional 1,514 shares in the last quarter. Avanza Fonder AB acquired a new position in BridgeBio Pharma during the fourth quarter worth about $181,000. Finally, First Bank & Trust bought a new stake in BridgeBio Pharma in the fourth quarter worth about $205,000. Institutional investors and hedge funds own 99.85% of the company's stock.

Analyst Ratings Changes

Several equities analysts have recently weighed in on BBIO shares. Piper Sandler raised their price objective on shares of BridgeBio Pharma from $46.00 to $63.00 and gave the company an "overweight" rating in a research report on Wednesday, April 30th. Scotiabank increased their target price on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research note on Wednesday, April 30th. HC Wainwright lifted their price target on shares of BridgeBio Pharma from $49.00 to $53.00 and gave the stock a "buy" rating in a research report on Tuesday, April 15th. Citigroup increased their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the company a "buy" rating in a research report on Friday, February 21st. Finally, Cantor Fitzgerald reissued an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research note on Friday, February 21st. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.09.

Insider Activity

In related news, CAO Maricel Apuli sold 1,026 shares of the stock in a transaction that occurred on Friday, May 2nd. The shares were sold at an average price of $38.51, for a total value of $39,511.26. Following the transaction, the chief accounting officer now directly owns 147,639 shares in the company, valued at $5,685,577.89. This represents a 0.69% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction that occurred on Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the transaction, the insider now directly owns 19,260,971 shares in the company, valued at approximately $634,841,604.16. The trade was a 23.75% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 12,475,682 shares of company stock worth $419,721,156. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Trading Down 2.6%

BridgeBio Pharma stock traded down $0.87 on Wednesday, reaching $32.84. 1,674,606 shares of the stock were exchanged, compared to its average volume of 2,437,046. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.54. The firm has a fifty day moving average price of $34.48 and a two-hundred day moving average price of $31.72. The stock has a market cap of $6.24 billion, a PE ratio of -11.52 and a beta of 1.15.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Tuesday, April 29th. The company reported ($0.88) earnings per share for the quarter, beating the consensus estimate of ($1.00) by $0.12. The business had revenue of $36.74 million during the quarter, compared to the consensus estimate of $57.14 million. During the same period in the prior year, the company posted ($0.20) earnings per share. The firm's revenue was down 44.8% compared to the same quarter last year. Equities analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

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.