Mackenzie Financial Corp Takes Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Mackenzie Financial Corp acquired a new stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,992 shares of the company’s stock, valued at approximately $282,000.

Several other institutional investors and hedge funds have also made changes to their positions in the stock. Arizona State Retirement System lifted its position in shares of BridgeBio Pharma by 1.6% in the third quarter. Arizona State Retirement System now owns 25,134 shares of the company’s stock valued at $663,000 after acquiring an additional 386 shares in the last quarter. Diversified Trust Co lifted its position in shares of BridgeBio Pharma by 2.5% in the third quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock valued at $451,000 after acquiring an additional 411 shares in the last quarter. Amalgamated Bank lifted its position in shares of BridgeBio Pharma by 3.8% in the third quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock valued at $416,000 after acquiring an additional 576 shares in the last quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. lifted its position in shares of BridgeBio Pharma by 4.9% in the third quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 15,289 shares of the company’s stock valued at $403,000 after acquiring an additional 720 shares in the last quarter. Finally, Mirae Asset Global Investments Co. Ltd. lifted its position in shares of BridgeBio Pharma by 1.4% in the fourth quarter. Mirae Asset Global Investments Co. Ltd. now owns 65,773 shares of the company’s stock valued at $2,655,000 after acquiring an additional 904 shares in the last quarter. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO opened at $24.88 on Monday. The firm has a market capitalization of $4.37 billion, a PE ratio of -6.31 and a beta of 1.03. The business has a 50-day moving average of $29.42 and a two-hundred day moving average of $31.79. BridgeBio Pharma, Inc. has a 12 month low of $12.75 and a 12 month high of $44.32.

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

Insider Activity

In other news, Director Randal W. Scott sold 2,500 shares of the stock in a transaction dated 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 sale, the director now owns 6,500 shares in the company, valued at $221,000. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 28.52% of the company’s stock.

Analyst Ratings Changes

Several research firms recently commented on BBIO. Mizuho dropped their target price on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating for the company in a research note on Tuesday, March 5th. Raymond James began coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 target price for the company. BMO Capital Markets began coverage on BridgeBio Pharma in a research note on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 target price for the company. Citigroup upped their target price on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a research note on Friday, February 23rd. Finally, HC Wainwright reiterated a “buy” rating and issued a $47.00 target price on shares of BridgeBio Pharma in a research note on Monday, March 4th. Two investment analysts have rated the stock with a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $47.82.

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.