Mirae Asset Global Investments Co. Ltd. Purchases 904 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Mirae Asset Global Investments Co. Ltd. boosted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.4% during the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 65,773 shares of the company’s stock after acquiring an additional 904 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in BridgeBio Pharma were worth $2,655,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also added to or reduced their stakes in the company. Campbell & CO Investment Adviser LLC bought a new position in BridgeBio Pharma in the third quarter worth approximately $403,000. Moody Aldrich Partners LLC raised its stake in shares of BridgeBio Pharma by 72.2% in the third quarter. Moody Aldrich Partners LLC now owns 137,512 shares of the company’s stock worth $3,626,000 after purchasing an additional 57,639 shares during the last quarter. The Manufacturers Life Insurance Company raised its stake in shares of BridgeBio Pharma by 170.8% in the third quarter. The Manufacturers Life Insurance Company now owns 665,604 shares of the company’s stock worth $17,552,000 after purchasing an additional 419,813 shares during the last quarter. Primecap Management Co. CA raised its stake in shares of BridgeBio Pharma by 34.9% in the third quarter. Primecap Management Co. CA now owns 938,700 shares of the company’s stock worth $24,754,000 after purchasing an additional 242,608 shares during the last quarter. Finally, Boone Capital Management LLC purchased a new stake in shares of BridgeBio Pharma in the third quarter worth approximately $8,264,000. Institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In other news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction on Friday, March 1st. The stock was sold at an average price of $34.00, for a total value of $85,000.00. Following the completion of the transaction, the director now directly owns 6,500 shares of the company’s stock, valued at $221,000. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Corporate insiders own 28.52% of the company’s stock.

BridgeBio Pharma Price Performance

NASDAQ:BBIO opened at $24.95 on Friday. The business has a fifty day simple moving average of $30.72 and a two-hundred day simple moving average of $31.73. BridgeBio Pharma, Inc. has a 1 year low of $12.75 and a 1 year high of $44.32. The company has a market capitalization of $4.39 billion, a P/E ratio of -6.33 and a beta of 1.03.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, February 22nd. The company reported ($0.96) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.87) by ($0.09). The business had revenue of $1.74 million during the quarter, compared to analyst estimates of $4.78 million. During the same period in the prior year, the company earned ($0.92) earnings per share. BridgeBio Pharma’s revenue was down 8.4% on a year-over-year basis. As a group, analysts anticipate that BridgeBio Pharma, Inc. will post -3.09 earnings per share for the current year.

Analysts Set New Price Targets

Several analysts have recently commented on BBIO shares. JPMorgan Chase & Co. increased their price objective on BridgeBio Pharma from $35.00 to $45.00 and gave the stock an “overweight” rating in a research note on Wednesday, March 20th. BMO Capital Markets started coverage on BridgeBio Pharma in a research note on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price objective for the company. Citigroup increased their price target on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research report on Friday, February 23rd. Mizuho decreased their price target on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research report on Tuesday, March 5th. Finally, HC Wainwright reaffirmed a “buy” rating and set a $47.00 price target on shares of BridgeBio Pharma in a research report on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus target price of $47.17.

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.