Mizuho Markets Americas LLC Acquires 21,416 Shares of BridgeBio Pharma, Inc. $BBIO

Mizuho Markets Americas LLC grew its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 15.3% in the 4th quarter, Holdings Channel reports. The fund owned 161,788 shares of the company’s stock after purchasing an additional 21,416 shares during the quarter. Mizuho Markets Americas LLC’s holdings in BridgeBio Pharma were worth $12,375,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds also recently modified their holdings of BBIO. Invesco Ltd. boosted its position in shares of BridgeBio Pharma by 40.3% in the third quarter. Invesco Ltd. now owns 3,928,657 shares of the company’s stock valued at $204,054,000 after acquiring an additional 1,127,592 shares during the period. Allspring Global Investments Holdings LLC lifted its position in BridgeBio Pharma by 14,211.5% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 994,220 shares of the company’s stock worth $77,783,000 after purchasing an additional 987,273 shares during the period. Polar Capital Holdings Plc bought a new position in BridgeBio Pharma in the third quarter worth $50,956,000. Wellington Management Group LLP lifted its position in BridgeBio Pharma by 1,698.5% in the third quarter. Wellington Management Group LLP now owns 1,019,194 shares of the company’s stock worth $52,937,000 after purchasing an additional 962,525 shares during the period. Finally, Franklin Resources Inc. lifted its position in BridgeBio Pharma by 75.8% in the third quarter. Franklin Resources Inc. now owns 1,444,023 shares of the company’s stock worth $75,003,000 after purchasing an additional 622,618 shares during the period. 99.85% of the stock is owned by institutional investors.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $69.12 on Friday. The business has a fifty day moving average of $71.30 and a 200-day moving average of $71.86. The firm has a market cap of $13.54 billion, a PE ratio of -18.48 and a beta of 1.02. BridgeBio Pharma, Inc. has a twelve month low of $31.77 and a twelve month high of $84.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts’ consensus estimates of ($0.70) by ($0.14). The company had revenue of $194.52 million during the quarter, compared to analysts’ expectations of $178.07 million. The firm’s revenue for the quarter was up 66.8% on a year-over-year basis. During the same period last year, the firm posted ($0.88) EPS. On average, analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently commented on the company. HC Wainwright raised their target price on BridgeBio Pharma from $100.00 to $110.00 and gave the stock a “buy” rating in a research report on Monday, May 11th. Mizuho reaffirmed an “outperform” rating and issued a $106.00 target price on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Citigroup assumed coverage on BridgeBio Pharma in a report on Tuesday. They set a “neutral” rating and a $82.00 price objective for the company. William Blair assumed coverage on BridgeBio Pharma in a report on Tuesday, March 10th. They set an “outperform” rating for the company. Finally, Wells Fargo & Company lifted their price objective on BridgeBio Pharma from $88.00 to $98.00 and gave the company an “overweight” rating in a report on Friday, February 13th. Twenty-three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $88.90.

Insider Transactions at BridgeBio Pharma

In related news, Director Andrea Ellis sold 64,921 shares of BridgeBio Pharma stock in a transaction dated Wednesday, March 4th. The stock was sold at an average price of $64.87, for a total value of $4,211,425.27. Following the completion of the sale, the director directly owned 18,589 shares in the company, valued at $1,205,868.43. This trade represents a 77.74% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Neil Kumar sold 40,000 shares of BridgeBio Pharma stock in a transaction dated Thursday, May 7th. The stock was sold at an average price of $67.90, for a total value of $2,716,000.00. Following the completion of the sale, the chief executive officer owned 575,686 shares of the company’s stock, valued at approximately $39,089,079.40. The trade was a 6.50% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last 90 days, insiders sold 210,572 shares of company stock valued at $14,364,492. 14.23% of the stock is currently owned by insiders.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.