Tema Etfs LLC Reduces Position in BridgeBio Pharma, Inc. $BBIO

Tema Etfs LLC decreased its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 13.6% during the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 83,402 shares of the company’s stock after selling 13,159 shares during the period. Tema Etfs LLC’s holdings in BridgeBio Pharma were worth $6,379,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Aster Capital Management DIFC Ltd purchased a new stake in BridgeBio Pharma during the 3rd quarter valued at $31,000. Harvest Fund Management Co. Ltd bought a new stake in BridgeBio Pharma in the 3rd quarter worth $34,000. First Horizon Corp purchased a new position in shares of BridgeBio Pharma in the third quarter valued at about $36,000. Huntington National Bank raised its stake in shares of BridgeBio Pharma by 111.7% during the third quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after acquiring an additional 392 shares during the last quarter. Finally, Ameriflex Group Inc. bought a new position in shares of BridgeBio Pharma during the third quarter valued at about $42,000. 99.85% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

BBIO has been the topic of several recent analyst reports. HC Wainwright raised their target price on BridgeBio Pharma from $90.00 to $100.00 and gave the stock a “buy” rating in a research note on Tuesday, February 17th. William Blair assumed coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They issued an “outperform” rating for the company. TD Cowen reiterated a “buy” rating on shares of BridgeBio Pharma in a research report on Monday, January 12th. Mizuho boosted their target price on BridgeBio Pharma from $91.00 to $106.00 and gave the company an “outperform” rating in a research note on Wednesday, March 18th. Finally, Barclays restated an “overweight” rating on shares of BridgeBio Pharma in a report on Tuesday, March 10th. Twenty-three investment analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $86.75.

BridgeBio Pharma Price Performance

Shares of NASDAQ BBIO opened at $74.45 on Thursday. BridgeBio Pharma, Inc. has a 1 year low of $28.33 and a 1 year high of $84.94. The stock has a market capitalization of $14.43 billion, a P/E ratio of -19.70 and a beta of 1.13. The company’s 50-day moving average is $71.57 and its 200 day moving average is $67.77.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings data on Tuesday, February 24th. The company reported ($1.00) EPS for the quarter, missing the consensus estimate of ($0.75) by ($0.25). The business had revenue of $154.18 million for the quarter, compared to analyst estimates of $150.71 million. BridgeBio Pharma’s revenue for the quarter was up 2521.2% compared to the same quarter last year. During the same period in the previous year, the business earned ($1.40) EPS. Research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

Insider Transactions at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction that occurred on Tuesday, February 17th. The stock was sold at an average price of $75.46, for a total value of $754,600.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at $874,505.94. This trade represents a 46.32% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Andrea Ellis sold 64,921 shares of BridgeBio Pharma stock in a transaction that occurred on Wednesday, March 4th. The shares were sold at an average price of $64.87, for a total value of $4,211,425.27. Following the sale, the director owned 18,589 shares in the company, valued at $1,205,868.43. This represents a 77.74% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders have sold 237,084 shares of company stock worth $16,608,419. 18.20% of the stock is owned by insiders.

About BridgeBio Pharma

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.