Atika Capital Management LLC Acquires Shares of 35,200 BridgeBio Pharma, Inc. $BBIO

Atika Capital Management LLC bought a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm bought 35,200 shares of the company’s stock, valued at approximately $2,614,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in BBIO. Brooklands Fund Management Ltd acquired a new stake in BridgeBio Pharma in the fourth quarter worth about $210,348,000. Price T Rowe Associates Inc. MD boosted its stake in shares of BridgeBio Pharma by 144.2% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock valued at $292,862,000 after purchasing an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC grew its position in shares of BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after buying an additional 2,259,378 shares during the period. Norges Bank acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth approximately $116,802,000. Finally, Wellington Management Group LLP raised its stake in shares of BridgeBio Pharma by 130.4% during the fourth quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after buying an additional 1,329,537 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on BBIO. Canaccord Genuity Group assumed coverage on shares of BridgeBio Pharma in a report on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price objective on the stock. HC Wainwright upped their target price on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Citigroup increased their price target on BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a research note on Thursday, July 16th. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Finally, Raymond James Financial cut BridgeBio Pharma from an “outperform” rating to a “market perform” rating in a research note on Tuesday, May 26th. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $95.21.

Insider Activity at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of the firm’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total transaction of $2,698,400.00. Following the sale, the chief executive officer directly owned 535,686 shares in the company, valued at approximately $36,137,377.56. This trade represents a 6.95% decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the firm’s stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total transaction of $888,407.08. Following the sale, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This trade represents a 3.66% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Insiders have sold a total of 432,117 shares of company stock valued at $32,633,740 over the last 90 days. Insiders own 14.23% of the company’s stock.

BridgeBio Pharma Stock Up 0.3%

Shares of NASDAQ BBIO opened at $82.93 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $42.09 and a twelve month high of $93.42. The stock has a market cap of $16.24 billion, a price-to-earnings ratio of -22.17 and a beta of 0.95. The company’s fifty day moving average is $72.33 and its 200-day moving average is $72.45.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to analyst estimates of $178.07 million. The firm’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period in the prior year, the company posted ($0.88) EPS. On average, research analysts anticipate that BridgeBio Pharma, Inc. will post -2.29 EPS for the current fiscal year.

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.