Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,139 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 17.9% in the 4th quarter, Holdings Channel reports. The institutional investor owned 20,630 shares of the company’s stock after purchasing an additional 3,139 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in BridgeBio Pharma were worth $833,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Arizona State Retirement System boosted its holdings 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 worth $663,000 after acquiring an additional 386 shares during the period. Diversified Trust Co grew its holdings in BridgeBio Pharma by 2.5% during the 3rd quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock valued at $451,000 after buying an additional 411 shares in the last quarter. Amalgamated Bank increased its position in shares of BridgeBio Pharma by 3.8% during the third quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock valued at $416,000 after buying an additional 576 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. increased its position in shares of BridgeBio Pharma by 4.9% during 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 buying an additional 720 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. grew its stake in BridgeBio Pharma by 1.4% during 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 Stock Performance

Shares of BBIO opened at $25.47 on Tuesday. The stock has a market cap of $4.77 billion, a PE ratio of -6.46 and a beta of 1.03. The firm’s 50-day simple moving average is $29.18 and its two-hundred day simple moving average is $31.80. BridgeBio Pharma, Inc. has a fifty-two week low of $12.75 and a fifty-two week high of $44.32.

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

Insider Activity

In related news, Director Randal W. Scott sold 2,500 shares of the firm’s stock in a transaction that occurred on Friday, March 1st. The shares were sold at an average price of $34.00, for a total value of $85,000.00. Following the transaction, the director now owns 6,500 shares of the company’s stock, valued at $221,000. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Insiders own 28.52% of the company’s stock.

Analyst Ratings Changes

A number of research firms have recently commented on BBIO. BMO Capital Markets began coverage on shares of BridgeBio Pharma in a research report on Wednesday, January 31st. They set a “market perform” rating and a $37.00 price target for the company. HC Wainwright restated a “buy” rating and set a $47.00 price objective on shares of BridgeBio Pharma in a research report on Monday, March 4th. Mizuho lowered their price target on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a research report on Tuesday, March 5th. Cantor Fitzgerald raised their price objective on BridgeBio Pharma from $60.00 to $70.00 and gave the company an “overweight” rating in a report on Tuesday, March 19th. Finally, Raymond James assumed 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. Two analysts have rated the stock with a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target 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.