Mirae Asset Global Investments Co. Ltd. decreased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 6.1% in the first quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 61,744 shares of the company’s stock after selling 4,029 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BridgeBio Pharma were worth $1,909,000 as of its most recent filing with the SEC.
A number of other hedge funds also recently made changes to their positions in BBIO. YHB Investment Advisors Inc. acquired a new position in shares of BridgeBio Pharma in the 1st quarter valued at $34,000. Quarry LP acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth about $50,000. Assetmark Inc. increased its position in shares of BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock worth $118,000 after purchasing an additional 935 shares in the last quarter. Sargent Investment Group LLC acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth about $213,000. Finally, Atria Wealth Solutions Inc. acquired a new stake in shares of BridgeBio Pharma during the 4th quarter worth about $214,000. Institutional investors and hedge funds own 99.85% of the company’s stock.
Insider Activity
In other news, Director Randal W. Scott sold 1,000 shares of the business’s stock in a transaction on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total value of $28,840.00. Following the completion of the transaction, the director now owns 5,500 shares of the company’s stock, valued at approximately $158,620. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 24.66% of the stock is owned by company insiders.
Wall Street Analyst Weigh In
A number of equities research analysts recently issued reports on the stock. Cantor Fitzgerald reiterated an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, July 1st. Evercore ISI assumed coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 target price for the company. Bank of America decreased their price objective on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a report on Tuesday, June 25th. UBS Group decreased their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Finally, Raymond James assumed coverage on shares of BridgeBio Pharma in a report on Thursday, March 21st. They set an “outperform” rating and a $45.00 price objective on the stock. Two analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, BridgeBio Pharma currently has an average rating of “Moderate Buy” and an average target price of $47.21.
Read Our Latest Stock Report on BridgeBio Pharma
BridgeBio Pharma Stock Performance
BBIO opened at $27.12 on Friday. The company has a fifty day moving average price of $27.37 and a two-hundred day moving average price of $30.66. BridgeBio Pharma, Inc. has a 52 week low of $16.79 and a 52 week high of $44.32. The firm has a market capitalization of $5.07 billion, a PE ratio of -8.42 and a beta of 1.06.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The business had revenue of $211.12 million for the quarter, compared to analyst estimates of $140.06 million. Equities analysts forecast that BridgeBio Pharma, Inc. will post -3.2 EPS for the current 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.
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