Mirae Asset Global Investments Co. Ltd. Has $317,000 Holdings in BridgeBio Pharma, Inc. $BBIO

Mirae Asset Global Investments Co. Ltd. increased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 15.3% during the second quarter, HoldingsChannel reports. The fund owned 7,335 shares of the company’s stock after acquiring an additional 971 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BridgeBio Pharma were worth $317,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. GAMMA Investing LLC grew its position in BridgeBio Pharma by 5,811.5% in the 1st quarter. GAMMA Investing LLC now owns 31,804 shares of the company’s stock worth $1,099,000 after purchasing an additional 31,266 shares in the last quarter. Assenagon Asset Management S.A. grew its position in BridgeBio Pharma by 4,544.6% in the 1st quarter. Assenagon Asset Management S.A. now owns 1,120,933 shares of the company’s stock worth $38,751,000 after purchasing an additional 1,096,799 shares in the last quarter. Cambridge Investment Research Advisors Inc. grew its position in BridgeBio Pharma by 29.4% in the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 30,802 shares of the company’s stock worth $1,065,000 after purchasing an additional 6,997 shares in the last quarter. Diversified Trust Co grew its position in BridgeBio Pharma by 25.3% in the 1st quarter. Diversified Trust Co now owns 34,866 shares of the company’s stock worth $1,205,000 after purchasing an additional 7,039 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC bought a new stake in BridgeBio Pharma in the 1st quarter worth about $251,000. Institutional investors and hedge funds own 99.85% of the company’s stock.

Insider Activity at BridgeBio Pharma

In related news, Director Charles J. Homcy sold 50,000 shares of the company’s stock in a transaction that occurred on Monday, August 11th. The shares were sold at an average price of $48.00, for a total transaction of $2,400,000.00. Following the sale, the director directly owned 916,674 shares in the company, valued at approximately $44,000,352. This represents a 5.17% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Director Frank Mccormick sold 74,000 shares of the company’s stock in a transaction that occurred on Friday, September 5th. The shares were sold at an average price of $53.16, for a total transaction of $3,933,840.00. Following the sale, the director owned 83,275 shares in the company, valued at $4,426,899. The trade was a 47.05% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 597,913 shares of company stock worth $29,034,227 in the last ninety days. Insiders own 18.20% of the company’s stock.

BridgeBio Pharma Trading Up 1.3%

Shares of BBIO stock opened at $55.49 on Friday. The stock has a market capitalization of $10.61 billion, a P/E ratio of -13.57 and a beta of 1.36. The firm’s 50 day moving average is $51.09 and its 200 day moving average is $42.88. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $55.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts’ consensus estimates of ($0.83) by ($0.12). The company had revenue of $110.57 million for the quarter, compared to the consensus estimate of $98.46 million. The company’s quarterly revenue was up 4999.9% compared to the same quarter last year. During the same quarter in the prior year, the firm earned ($0.39) EPS. On average, equities analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of brokerages have issued reports on BBIO. Raymond James Financial began coverage on shares of BridgeBio Pharma in a research report on Wednesday, July 30th. They issued an “outperform” rating and a $56.00 price objective for the company. HC Wainwright reaffirmed a “buy” rating and issued a $70.00 price objective on shares of BridgeBio Pharma in a research report on Monday, September 15th. Piper Sandler upped their price objective on shares of BridgeBio Pharma from $63.00 to $68.00 and gave the stock an “overweight” rating in a research report on Monday, July 14th. Wells Fargo & Company increased their target price on shares of BridgeBio Pharma from $67.00 to $76.00 and gave the company an “overweight” rating in a research report on Monday, June 30th. Finally, JPMorgan Chase & Co. increased their target price on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the company an “overweight” rating in a research report on Wednesday, September 3rd. Seventeen equities research analysts have rated the stock with a Buy rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.94.

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.