Atika Capital Management LLC Invests $2.61 Million in BridgeBio Pharma, Inc. $BBIO

Atika Capital Management LLC acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the first quarter, HoldingsChannel.com reports. The institutional investor acquired 35,200 shares of the company’s stock, valued at approximately $2,614,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Harvest Fund Management Co. Ltd acquired a new stake in shares of BridgeBio Pharma in the third quarter valued at about $34,000. Jones Financial Companies Lllp acquired a new position in BridgeBio Pharma during the first quarter valued at approximately $35,000. Farther Finance Advisors LLC grew its stake in BridgeBio Pharma by 91.4% in the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock valued at $39,000 after purchasing an additional 245 shares in the last quarter. Global Retirement Partners LLC grew its stake in BridgeBio Pharma by 271.5% in the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock valued at $39,000 after purchasing an additional 372 shares in the last quarter. Finally, Kemnay Advisory Services Inc. acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth approximately $41,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other BridgeBio Pharma news, Director Randal W. Scott sold 10,000 shares of the business’s stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the transaction, the director owned 11,589 shares of the company’s stock, valued at approximately $778,201.35. The trade was a 46.32% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Jennifer E. Cook sold 148,589 shares of the firm’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $88.54, for a total transaction of $13,156,070.06. Following the completion of the sale, the director owned 8,383 shares in the company, valued at approximately $742,230.82. The trade was a 94.66% 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. Over the last 90 days, insiders have sold 432,117 shares of company stock valued at $32,633,740. Company insiders own 14.23% of the company’s stock.

Wall Street Analysts Forecast Growth

BBIO has been the topic of a number of analyst reports. HC Wainwright upped their price objective on BridgeBio Pharma from $110.00 to $120.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Morgan Stanley boosted their target price on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a report on Thursday, May 28th. Citigroup upped their price target on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. Truist Financial increased their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Weiss Ratings reissued a “sell (d)” rating on shares of BridgeBio Pharma in a research report on Friday, May 15th. Twenty research analysts have rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $95.21.

BridgeBio Pharma Price Performance

BBIO stock opened at $82.93 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $42.09 and a fifty-two week high of $93.42. The business’s fifty day moving average price is $72.33 and its two-hundred day moving average price is $72.45. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of -22.17 and a beta of 0.95.

BridgeBio Pharma (NASDAQ:BBIO) last released its quarterly 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 $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. The company’s quarterly revenue was up 66.8% compared to the same quarter last year. During the same period last year, the firm posted ($0.88) EPS. Research analysts expect that BridgeBio Pharma, Inc. will post -2.29 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.