Atle Fund Management AB Acquires 9,242 Shares of BridgeBio Pharma, Inc. $BBIO

Atle Fund Management AB grew its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 174,722 shares of the company’s stock after acquiring an additional 9,242 shares during the period. BridgeBio Pharma comprises approximately 3.5% of Atle Fund Management AB’s portfolio, making the stock its 7th largest position. Atle Fund Management AB owned 0.09% of BridgeBio Pharma worth $9,075,000 as of its most recent SEC filing.

Other large investors have also modified their holdings of the company. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma during the 1st quarter worth $35,000. PFG Investments LLC acquired a new stake in BridgeBio Pharma in the 2nd quarter valued at about $255,000. Mirae Asset Global Investments Co. Ltd. boosted its stake in shares of BridgeBio Pharma by 15.3% in the 2nd quarter. Mirae Asset Global Investments Co. Ltd. now owns 7,335 shares of the company’s stock valued at $317,000 after buying an additional 971 shares during the period. DAVENPORT & Co LLC acquired a new position in shares of BridgeBio Pharma during the second quarter worth about $207,000. Finally, KLP Kapitalforvaltning AS increased its stake in shares of BridgeBio Pharma by 20.1% during the second quarter. KLP Kapitalforvaltning AS now owns 28,035 shares of the company’s stock worth $1,211,000 after buying an additional 4,700 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on BBIO shares. Weiss Ratings reiterated a “sell (d-)” rating on shares of BridgeBio Pharma in a research note on Wednesday, January 21st. Truist Financial lifted their price objective on shares of BridgeBio Pharma from $80.00 to $86.00 and gave the stock a “buy” rating in a research report on Thursday, January 8th. Wells Fargo & Company increased their target price on BridgeBio Pharma from $84.00 to $88.00 and gave the company an “overweight” rating in a report on Tuesday, January 20th. Barclays began coverage on BridgeBio Pharma in a report on Wednesday. They set an “overweight” rating for the company. Finally, Evercore ISI reiterated an “outperform” rating on shares of BridgeBio Pharma in a report on Monday, October 27th. Twenty-two analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $79.05.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $77.27 on Friday. The company has a fifty day moving average of $75.39 and a two-hundred day moving average of $61.31. The company has a market capitalization of $14.89 billion, a PE ratio of -18.49 and a beta of 1.17. BridgeBio Pharma, Inc. has a 1 year low of $28.33 and a 1 year high of $81.32.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share for the quarter, missing the consensus estimate of ($0.88) by ($0.07). The firm had revenue of $120.70 million during the quarter, compared to analyst estimates of $107.71 million. The business’s revenue was up 4318.0% on a year-over-year basis. During the same period in the prior year, the firm earned ($0.86) earnings per share. On average, research analysts expect that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Activity

In other BridgeBio Pharma news, Director Andrew Lo sold 55,000 shares of the firm’s stock in a transaction on Tuesday, November 18th. The shares were sold at an average price of $65.69, for a total transaction of $3,612,950.00. Following the transaction, the director directly owned 50,583 shares of the company’s stock, valued at approximately $3,322,797.27. This trade represents a 52.09% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CFO Thomas Trimarchi sold 16,934 shares of the company’s stock in a transaction dated Monday, November 17th. The shares were sold at an average price of $66.46, for a total transaction of $1,125,433.64. Following the completion of the sale, the chief financial officer directly owned 382,830 shares of the company’s stock, valued at $25,442,881.80. The trade was a 4.24% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 387,215 shares of company stock worth $26,255,694 over the last 90 days. 18.20% of the stock is owned by corporate insiders.

BridgeBio Pharma 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.