Monimus Capital Management LP Makes New $1.13 Million Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Monimus Capital Management LP bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 41,077 shares of the company’s stock, valued at approximately $1,127,000.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Polar Asset Management Partners Inc. bought a new position in shares of BridgeBio Pharma during the third quarter worth $1,286,000. First Turn Management LLC bought a new position in shares of BridgeBio Pharma during the third quarter worth $10,178,000. Janus Henderson Group PLC boosted its position in shares of BridgeBio Pharma by 11.7% during the third quarter. Janus Henderson Group PLC now owns 4,818,012 shares of the company’s stock worth $122,658,000 after acquiring an additional 505,481 shares during the last quarter. Intech Investment Management LLC bought a new position in shares of BridgeBio Pharma during the third quarter worth $1,136,000. Finally, Principal Financial Group Inc. boosted its position in shares of BridgeBio Pharma by 1.8% during the third quarter. Principal Financial Group Inc. now owns 1,145,123 shares of the company’s stock worth $29,155,000 after acquiring an additional 19,978 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 8,500 shares of the firm’s stock in a transaction dated Tuesday, February 25th. The shares were sold at an average price of $33.19, for a total transaction of $282,115.00. Following the transaction, the chief financial officer now owns 102,464 shares of the company’s stock, valued at approximately $3,400,780.16. This trade represents a 7.66 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm’s stock in a transaction dated Wednesday, March 5th. The shares were sold at an average price of $32.96, for a total transaction of $197,760,000.00. Following the completion of the sale, the insider now owns 19,260,971 shares in the company, valued at $634,841,604.16. This represents a 23.75 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 9,579,739 shares of company stock valued at $323,171,901 in the last 90 days. Company insiders own 24.66% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on BBIO shares. Evercore ISI upped their target price on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. Citigroup increased their price objective on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a research report on Friday, February 21st. Scotiabank increased their price objective on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a research report on Friday, February 21st. Bank of America increased their price objective on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a research report on Monday, November 25th. Finally, Cantor Fitzgerald reiterated an “overweight” rating and set a $95.00 price objective on shares of BridgeBio Pharma in a research report on Friday, February 21st. One investment analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Moderate Buy” and an average price target of $51.55.

BridgeBio Pharma Trading Up 2.0 %

Shares of BBIO opened at $32.97 on Friday. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $39.47. The company has a market cap of $6.27 billion, a P/E ratio of -11.57 and a beta of 1.07. The company’s fifty day simple moving average is $33.62 and its 200-day simple moving average is $28.82.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The company had revenue of $5.88 million for the quarter, compared to the consensus estimate of $4.04 million. Analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal 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.