Brooklands Fund Management Ltd Invests $210.35 Million in BridgeBio Pharma, Inc. $BBIO

Brooklands Fund Management Ltd purchased a new position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the 4th quarter, Holdings Channel reports. The firm purchased 2,750,000 shares of the company’s stock, valued at approximately $210,348,000. BridgeBio Pharma accounts for about 27.5% of Brooklands Fund Management Ltd’s portfolio, making the stock its 2nd largest position.

Other hedge funds have also 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 purchased a new stake in BridgeBio Pharma during the 3rd quarter valued at $34,000. Jones Financial Companies Lllp purchased a new stake in BridgeBio Pharma during the 1st quarter valued at $35,000. Huntington National Bank raised its stake in BridgeBio Pharma by 111.7% during the 3rd quarter. Huntington National Bank now owns 743 shares of the company’s stock valued at $39,000 after buying an additional 392 shares during the last quarter. Finally, Farther Finance Advisors LLC raised its stake in BridgeBio Pharma by 91.4% during the 4th quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after buying an additional 245 shares during the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other BridgeBio Pharma 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 transaction, the chief financial officer owned 359,194 shares of the company’s stock, valued at $23,376,345.52. This represents a 3.66% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Randal W. Scott sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the transaction, the director directly owned 11,589 shares of the company’s stock, valued at $778,201.35. This trade represents a 46.32% decrease in their position. 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. Over the last 90 days, insiders sold 171,754 shares of company stock worth $11,914,859. 14.23% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on BBIO. Morgan Stanley boosted their target price on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the company an “overweight” rating in a research note on Thursday, May 28th. Citigroup initiated coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 19th. They set a “neutral” rating and a $82.00 price objective for the company. JPMorgan Chase & Co. boosted their price objective on shares of BridgeBio Pharma from $89.00 to $94.00 and gave the company an “overweight” rating in a research report on Tuesday, March 10th. Oppenheimer cut their price objective on shares of 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, Canaccord Genuity Group initiated coverage on shares of BridgeBio Pharma in a research report on Wednesday, June 3rd. They set a “buy” rating and a $104.00 price objective for the company. Twenty-three equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average price target of $89.59.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $68.00 on Tuesday. The company has a market capitalization of $13.32 billion, a P/E ratio of -18.18 and a beta of 0.98. The company has a fifty day moving average of $70.12 and a 200 day moving average of $72.10. BridgeBio Pharma, Inc. has a fifty-two week low of $39.63 and a fifty-two week high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. During the same period in the prior year, the company earned ($0.88) earnings per share. Analysts forecast that BridgeBio Pharma, Inc. will post -2.32 EPS for the current 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.