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

Monimus Capital Management LP bought a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund bought 41,077 shares of the company's stock, valued at approximately $1,127,000.

Several other institutional investors also recently modified their holdings of BBIO. State of New Jersey Common Pension Fund D raised its position in shares of BridgeBio Pharma by 13.7% during the third quarter. State of New Jersey Common Pension Fund D now owns 76,586 shares of the company's stock worth $1,950,000 after acquiring an additional 9,225 shares during the last quarter. Royce & Associates LP acquired a new stake in BridgeBio Pharma during the 3rd quarter worth about $3,105,000. Mizuho Markets Americas LLC raised its position in shares of BridgeBio Pharma by 3.8% in the 3rd quarter. Mizuho Markets Americas LLC now owns 87,180 shares of the company's stock worth $2,220,000 after acquiring an additional 3,198 shares in the last quarter. Swiss National Bank lifted its stake in shares of BridgeBio Pharma by 1.1% in the 3rd quarter. Swiss National Bank now owns 219,300 shares of the company's stock valued at $5,583,000 after purchasing an additional 2,400 shares during the period. Finally, Quest Partners LLC boosted its position in shares of BridgeBio Pharma by 134.0% during the 3rd quarter. Quest Partners LLC now owns 31,173 shares of the company's stock valued at $794,000 after purchasing an additional 17,849 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors and hedge funds.

BridgeBio Pharma Stock Up 4.8 %

BBIO traded up $1.56 on Wednesday, hitting $33.75. The company's stock had a trading volume of 2,457,514 shares, compared to its average volume of 2,112,458. The firm has a market cap of $6.42 billion, a P/E ratio of -11.84 and a beta of 1.07. The company's 50 day simple moving average is $33.79 and its 200-day simple moving average is $28.97. BridgeBio Pharma, Inc. has a 12 month low of $21.62 and a 12 month high of $39.47.

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BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Thursday, February 20th. The company reported ($1.31) earnings per share for the quarter, missing analysts' consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to analyst estimates of $4.04 million. Equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on BBIO shares. Scotiabank lifted their price target on shares of BridgeBio Pharma from $49.00 to $52.00 and gave the company a "sector outperform" rating in a research note on Friday, February 21st. Cantor Fitzgerald restated an "overweight" rating and set a $95.00 price objective on shares of BridgeBio Pharma in a report on Friday, February 21st. Evercore ISI raised their price objective on shares of BridgeBio Pharma from $45.00 to $50.00 and gave the company an "outperform" rating in a research note on Monday, December 23rd. Citigroup boosted their target price on shares of BridgeBio Pharma from $45.00 to $49.00 and gave the stock a "buy" rating in a research report on Friday, February 21st. Finally, HC Wainwright restated a "buy" rating and issued a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. One research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $51.55.

Insider Activity

In other news, CEO Neil Kumar sold 75,000 shares of the business's stock in a transaction dated Tuesday, February 25th. The stock was sold at an average price of $33.57, for a total value of $2,517,750.00. Following the completion of the sale, the chief executive officer now owns 5,023,447 shares of the company's stock, valued at approximately $168,637,115.79. The trade was a 1.47 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the stock in a transaction on 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 sale, the insider now directly owns 19,260,971 shares of the company's stock, valued at $634,841,604.16. The trade was a 23.75 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 9,579,739 shares of company stock worth $323,171,901 in the last three months. Corporate insiders own 24.66% of the company's stock.

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.