Mirae Asset Global Investments Co. Ltd. Acquires 971 Shares of BridgeBio Pharma, Inc. $BBIO

Mirae Asset Global Investments Co. Ltd. increased its holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 15.3% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 7,335 shares of the company’s stock after purchasing an additional 971 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BridgeBio Pharma were worth $317,000 at the end of the most recent reporting period.

Several other institutional investors also recently modified their holdings of the business. First Bank & Trust grew its stake in shares of BridgeBio Pharma by 3.9% in the second quarter. First Bank & Trust now owns 8,822 shares of the company’s stock worth $381,000 after purchasing an additional 329 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company’s stock worth $32,000 after purchasing an additional 382 shares during the last quarter. Xponance Inc. grew its stake in shares of BridgeBio Pharma by 3.8% in the first quarter. Xponance Inc. now owns 10,474 shares of the company’s stock worth $362,000 after purchasing an additional 385 shares during the last quarter. CWM LLC grew its stake in shares of BridgeBio Pharma by 12.8% in the first quarter. CWM LLC now owns 5,261 shares of the company’s stock worth $182,000 after purchasing an additional 598 shares during the last quarter. Finally, GF Fund Management CO. LTD. grew its stake in shares of BridgeBio Pharma by 22.0% in the first quarter. GF Fund Management CO. LTD. now owns 4,839 shares of the company’s stock worth $167,000 after purchasing an additional 871 shares during the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Up 1.3%

Shares of NASDAQ BBIO opened at $55.49 on Friday. The firm’s 50-day moving average price is $51.09 and its 200-day moving average price is $42.88. BridgeBio Pharma, Inc. has a 1-year low of $21.72 and a 1-year high of $55.94. The firm has a market capitalization of $10.61 billion, a P/E ratio of -13.57 and a beta of 1.36.

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

Insider Buying and Selling

In related news, Director Frank Mccormick sold 74,000 shares of the company’s stock in a transaction dated Friday, September 5th. The shares were sold at an average price of $53.16, for a total value of $3,933,840.00. Following the sale, the director owned 83,275 shares in the company, valued at $4,426,899. This represents a 47.05% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction dated Wednesday, October 8th. The stock was sold at an average price of $54.78, for a total transaction of $2,191,200.00. Following the completion of the sale, the chief executive officer owned 855,686 shares in the company, valued at $46,874,479.08. This represents a 4.47% decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 597,913 shares of company stock worth $29,034,227 over the last ninety days. Insiders own 18.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. UBS Group boosted their target price on shares of BridgeBio Pharma from $72.00 to $82.00 and gave the company a “buy” rating in a report on Friday, September 12th. JPMorgan Chase & Co. boosted their target price on shares of BridgeBio Pharma from $55.00 to $70.00 and gave the company an “overweight” rating in a report on Wednesday, September 3rd. Weiss Ratings restated a “sell (d-)” rating on shares of BridgeBio Pharma in a report on Wednesday. Wall Street Zen upgraded shares of BridgeBio Pharma from a “sell” rating to a “hold” rating in a report on Saturday, August 9th. Finally, Scotiabank boosted their target price on shares of BridgeBio Pharma from $55.00 to $57.00 and gave the company a “sector outperform” rating in a report on Wednesday, August 6th. Seventeen investment analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $63.94.

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.