Castleark Management LLC Sells 9,690 Shares of BridgeBio Pharma, Inc. $BBIO

Castleark Management LLC cut its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 114,017 shares of the company’s stock after selling 9,690 shares during the quarter. Castleark Management LLC owned 0.06% of BridgeBio Pharma worth $8,721,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Federation des caisses Desjardins du Quebec lifted its position in BridgeBio Pharma by 17.5% during the fourth quarter. Federation des caisses Desjardins du Quebec now owns 9,529 shares of the company’s stock valued at $729,000 after purchasing an additional 1,421 shares during the last quarter. Brooklyn Investment Group bought a new stake in BridgeBio Pharma in the 4th quarter worth approximately $315,000. Orion Porfolio Solutions LLC bought a new stake in BridgeBio Pharma in the 4th quarter worth approximately $431,000. Cibc World Markets Corp bought a new stake in BridgeBio Pharma in the 4th quarter worth approximately $803,000. Finally, Commonwealth Equity Services LLC lifted its position in BridgeBio Pharma by 4.9% in the 4th quarter. Commonwealth Equity Services LLC now owns 5,179 shares of the company’s stock worth $396,000 after buying an additional 244 shares during the last quarter. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on BBIO shares. Mizuho restated an “outperform” rating and issued a $106.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Royal Bank Of Canada started coverage on BridgeBio Pharma in a research report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 target price for the company. Weiss Ratings restated a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Oppenheimer dropped their target price on BridgeBio Pharma from $83.00 to $81.00 and set an “outperform” rating for the company in a research report on Wednesday, February 25th. Finally, Leerink Partners restated an “outperform” rating and issued a $98.00 target price on shares of BridgeBio Pharma in a research report on Thursday, March 12th. Twenty-three research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $89.59.

BridgeBio Pharma Trading Down 1.1%

NASDAQ BBIO opened at $66.80 on Friday. BridgeBio Pharma, Inc. has a 1-year low of $38.57 and a 1-year high of $84.94. The stock has a 50-day moving average of $70.22 and a 200-day moving average of $72.11. The firm has a market cap of $13.08 billion, a PE ratio of -17.86 and a beta of 0.97.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The firm had revenue of $194.52 million during the quarter, compared to the consensus estimate of $178.07 million. During the same period in the previous year, the business posted ($0.88) earnings per share. The company’s revenue was up 66.8% compared to the same quarter last year. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.32 earnings per share for the current fiscal year.

Insider Activity

In other news, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction dated Monday, May 18th. The shares were sold at an average price of $65.08, for a total transaction of $888,407.08. Following the completion of the sale, the chief financial officer directly owned 359,194 shares in the company, valued at approximately $23,376,345.52. This represents a 3.66% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $67.15, for a total value of $671,500.00. Following the transaction, the director directly owned 11,589 shares of the company’s stock, valued at $778,201.35. The trade was a 46.32% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last ninety days, insiders have sold 171,754 shares of company stock valued at $11,914,859. Company insiders own 14.23% of the company’s stock.

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.