Tema Etfs LLC Sells 25,530 Shares of BridgeBio Pharma, Inc. $BBIO

Tema Etfs LLC lessened its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 17.1% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 123,587 shares of the company’s stock after selling 25,530 shares during the quarter. BridgeBio Pharma makes up about 1.4% of Tema Etfs LLC’s investment portfolio, making the stock its 18th largest position. Tema Etfs LLC owned 0.06% of BridgeBio Pharma worth $5,336,000 at the end of the most recent reporting period.

A number of other large investors have also modified their holdings of BBIO. Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in BridgeBio Pharma in the second quarter worth $25,000. Jones Financial Companies Lllp bought a new position in shares of BridgeBio Pharma during the 1st quarter worth about $35,000. Steward Partners Investment Advisory LLC boosted its position in shares of BridgeBio Pharma by 22.3% during the 2nd quarter. Steward Partners Investment Advisory LLC now owns 1,250 shares of the company’s stock valued at $54,000 after acquiring an additional 228 shares in the last quarter. LVW Advisors LLC acquired a new stake in shares of BridgeBio Pharma during the 2nd quarter valued at about $202,000. Finally, DAVENPORT & Co LLC bought a new stake in BridgeBio Pharma in the second quarter valued at about $207,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction on Wednesday, October 8th. The shares were sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the completion of the sale, the chief executive officer owned 855,686 shares of the company’s stock, valued at approximately $46,874,479.08. The trade was a 4.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Hannah Valantine sold 25,484 shares of the business’s stock in a transaction that occurred on Wednesday, November 12th. The shares were sold at an average price of $66.07, for a total transaction of $1,683,727.88. Following the transaction, the director owned 7,465 shares of the company’s stock, valued at approximately $493,212.55. This represents a 77.34% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold a total of 515,204 shares of company stock worth $33,436,960 over the last ninety days. 18.20% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research firms have weighed in on BBIO. UBS Group lifted their price objective on BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, September 12th. Leerink Partners set a $68.00 target price on BridgeBio Pharma and gave the stock an “outperform” rating in a research report on Monday, October 27th. Cantor Fitzgerald upped their price target on BridgeBio Pharma from $100.00 to $110.00 and gave the company an “overweight” rating in a research report on Thursday, October 30th. Piper Sandler increased their price objective on BridgeBio Pharma from $93.00 to $98.00 and gave the stock an “overweight” rating in a research note on Thursday, October 30th. Finally, Wells Fargo & Company upped their target price on shares of BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a report on Tuesday, November 11th. Twenty research analysts have rated the stock with a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $74.37.

BridgeBio Pharma Stock Up 0.8%

BridgeBio Pharma stock opened at $74.76 on Friday. The stock has a 50-day simple moving average of $61.54 and a 200 day simple moving average of $50.87. The stock has a market capitalization of $14.41 billion, a price-to-earnings ratio of -17.89 and a beta of 1.26. BridgeBio Pharma, Inc. has a 12-month low of $25.34 and a 12-month high of $75.04.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings data 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 business had revenue of $120.70 million for the quarter, compared to analysts’ expectations of $107.71 million. During the same period in the previous year, the firm earned ($0.86) EPS. The company’s quarterly revenue was up 4318.0% on a year-over-year basis. As a group, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

About BridgeBio Pharma

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.