Tema Etfs LLC Has $5.34 Million Holdings in BridgeBio Pharma, Inc. $BBIO

Tema Etfs LLC lowered its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 17.1% during the second quarter, Holdings Channel reports. The firm owned 123,587 shares of the company’s stock after selling 25,530 shares during the period. BridgeBio Pharma makes up approximately 1.4% of Tema Etfs LLC’s investment portfolio, making the stock its 18th biggest position. Tema Etfs LLC’s holdings in BridgeBio Pharma were worth $5,336,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in BBIO. Baird Financial Group Inc. grew its holdings in shares of BridgeBio Pharma by 1.8% during the second quarter. Baird Financial Group Inc. now owns 42,057 shares of the company’s stock worth $1,816,000 after purchasing an additional 731 shares during the last quarter. First Trust Advisors LP boosted its position in BridgeBio Pharma by 200.4% during the 2nd quarter. First Trust Advisors LP now owns 263,693 shares of the company’s stock worth $11,386,000 after buying an additional 175,918 shares during the period. Invesco Ltd. grew its holdings in BridgeBio Pharma by 27.0% during the 2nd quarter. Invesco Ltd. now owns 2,801,065 shares of the company’s stock worth $120,950,000 after acquiring an additional 594,902 shares during the last quarter. Blueshift Asset Management LLC acquired a new position in BridgeBio Pharma in the 2nd quarter valued at approximately $476,000. Finally, Edgestream Partners L.P. bought a new position in shares of BridgeBio Pharma during the second quarter valued at $1,924,000. 99.85% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research firms have recently commented on BBIO. UBS Group upped their price objective on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a research note on Friday, September 12th. Evercore ISI restated an “outperform” rating on shares of BridgeBio Pharma in a research report on Monday, October 27th. Cantor Fitzgerald lifted their target price on BridgeBio Pharma from $100.00 to $110.00 and gave the stock an “overweight” rating in a report on Thursday, October 30th. Truist Financial reissued a “buy” rating and issued a $80.00 price target (up from $66.00) on shares of BridgeBio Pharma in a research note on Thursday, October 30th. Finally, Wells Fargo & Company raised their price objective on shares of BridgeBio Pharma from $76.00 to $84.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 11th. Twenty investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average target price of $74.37.

Insider Activity

In other news, Director Andrew Lo sold 55,000 shares of the stock in a transaction that occurred on Tuesday, November 18th. The stock was sold at an average price of $65.69, for a total value of $3,612,950.00. Following the completion of the sale, the director directly owned 50,583 shares of the company’s stock, valued at $3,322,797.27. This represents a 52.09% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, Director Randal W. Scott sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, November 17th. The shares were sold at an average price of $66.65, for a total value of $666,500.00. Following the completion of the transaction, the director owned 11,589 shares in the company, valued at $772,406.85. This represents a 46.32% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last three months, insiders sold 515,204 shares of company stock worth $33,436,960. Company insiders own 18.20% of the company’s stock.

BridgeBio Pharma Stock Up 0.8%

NASDAQ BBIO opened at $74.76 on Friday. BridgeBio Pharma, Inc. has a 52 week low of $25.34 and a 52 week high of $75.04. The business has a 50 day moving average price of $61.54 and a 200-day moving average price of $50.87. The company has a market cap of $14.41 billion, a price-to-earnings ratio of -17.89 and a beta of 1.26.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Wednesday, October 29th. The company reported ($0.95) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.88) by ($0.07). The company had revenue of $120.70 million during the quarter, compared to the consensus estimate of $107.71 million. The firm’s quarterly revenue was up 4318.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($0.86) EPS. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current year.

BridgeBio Pharma Profile

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.