Monimus Capital Management LP Takes Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Monimus Capital Management LP purchased a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to its most recent 13F filing with the SEC. The firm purchased 41,077 shares of the company’s stock, valued at approximately $1,127,000.

Other institutional investors have also modified their holdings of the company. Steward Partners Investment Advisory LLC boosted its stake in BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock worth $28,000 after purchasing an additional 472 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock worth $117,000 after purchasing an additional 1,645 shares in the last quarter. Avanza Fonder AB acquired a new stake in BridgeBio Pharma in the 4th quarter worth approximately $181,000. First Bank & Trust acquired a new stake in BridgeBio Pharma in the 4th quarter worth approximately $205,000. Finally, Moss Adams Wealth Advisors LLC acquired a new stake in BridgeBio Pharma in the 4th quarter worth approximately $208,000. 99.85% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $32.97 on Friday. The firm has a market cap of $6.27 billion, a price-to-earnings ratio of -11.57 and a beta of 1.07. The company has a 50 day moving average price of $33.62 and a 200-day moving average price of $28.82. BridgeBio Pharma, Inc. has a 1-year low of $21.62 and a 1-year high of $39.47.

BridgeBio Pharma (NASDAQ:BBIO) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing the consensus estimate of ($1.09) by ($0.22). The firm had revenue of $5.88 million for the quarter, compared to analysts’ expectations of $4.04 million. On average, sell-side analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Insider Activity

In related news, CFO Brian C. Stephenson sold 4,148 shares of the business’s stock in a transaction on Wednesday, February 19th. The shares were sold at an average price of $36.16, for a total value of $149,991.68. Following the completion of the sale, the chief financial officer now owns 102,464 shares of the company’s stock, valued at approximately $3,705,098.24. The trade was a 3.89 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Neil Kumar sold 326,932 shares of the business’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total transaction of $11,864,362.28. Following the completion of the sale, the chief executive officer now directly owns 5,371,515 shares of the company’s stock, valued at approximately $194,932,279.35. The trade was a 5.74 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 9,579,739 shares of company stock valued at $323,171,901 in the last three months. 24.66% of the stock is currently owned by corporate insiders.

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.