Mizuho Markets Americas LLC Increases Stock Holdings in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Mizuho Markets Americas LLC lifted its position in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.1% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 94,198 shares of the company’s stock after purchasing an additional 4,600 shares during the quarter. Mizuho Markets Americas LLC owned about 0.06% of BridgeBio Pharma worth $1,562,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently modified their holdings of BBIO. Norges Bank purchased a new stake in shares of BridgeBio Pharma in the fourth quarter valued at about $7,320,000. Pictet Asset Management SA raised its stake in shares of BridgeBio Pharma by 166.7% in the 1st quarter. Pictet Asset Management SA now owns 1,442,432 shares of the company’s stock valued at $23,916,000 after acquiring an additional 901,628 shares during the period. Barclays PLC boosted its position in shares of BridgeBio Pharma by 268.2% during the 4th quarter. Barclays PLC now owns 1,201,885 shares of the company’s stock worth $9,159,000 after purchasing an additional 875,468 shares during the period. Renaissance Technologies LLC purchased a new position in shares of BridgeBio Pharma during the 2nd quarter worth approximately $3,752,000. Finally, UBS Group AG boosted its position in shares of BridgeBio Pharma by 580.2% during the 1st quarter. UBS Group AG now owns 442,040 shares of the company’s stock worth $4,487,000 after purchasing an additional 377,053 shares during the period. Hedge funds and other institutional investors own 90.85% of the company’s stock.

Analyst Upgrades and Downgrades

BBIO has been the subject of a number of research analyst reports. Raymond James increased their price objective on shares of BridgeBio Pharma from $29.00 to $46.00 and gave the stock an “outperform” rating in a research report on Tuesday, July 18th. Mizuho reaffirmed a “buy” rating and set a $60.00 price objective on shares of BridgeBio Pharma in a research report on Monday, August 28th. The Goldman Sachs Group increased their price objective on shares of BridgeBio Pharma from $29.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, July 18th. Jefferies Financial Group cut shares of BridgeBio Pharma from a “buy” rating to a “hold” rating and increased their price objective for the stock from $24.00 to $33.00 in a research report on Monday, July 17th. They noted that the move was a valuation call. Finally, BTIG Research raised their price target on shares of BridgeBio Pharma from $32.00 to $42.00 in a research report on Tuesday, July 18th. One research analyst has rated the stock with a hold rating and nine have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and a consensus price target of $37.30.

BridgeBio Pharma Trading Up 2.2 %

NASDAQ:BBIO traded up $0.67 during midday trading on Friday, hitting $30.58. 1,267,829 shares of the company were exchanged, compared to its average volume of 2,778,510. The company has a fifty day simple moving average of $27.13 and a 200 day simple moving average of $18.87. BridgeBio Pharma, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $36.36. The company has a market capitalization of $4.97 billion, a PE ratio of -8.15 and a beta of 0.94.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, August 3rd. The company reported ($0.98) EPS for the quarter, missing the consensus estimate of ($0.80) by ($0.18). The company had revenue of $1.60 million for the quarter, compared to analysts’ expectations of $2.99 million. During the same quarter in the prior year, the company earned ($0.07) EPS. BridgeBio Pharma’s quarterly revenue was down 97.8% compared to the same quarter last year. As a group, equities research analysts expect that BridgeBio Pharma, Inc. will post -3.53 EPS for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 22,683 shares of BridgeBio Pharma stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $28.59, for a total value of $648,506.97. Following the transaction, the chief financial officer now directly owns 36,710 shares in the company, valued at $1,049,538.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In other BridgeBio Pharma news, CFO Brian C. Stephenson sold 22,683 shares of BridgeBio Pharma stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $28.59, for a total value of $648,506.97. Following the transaction, the chief financial officer now directly owns 36,710 shares in the company, valued at $1,049,538.90. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Neil Kumar sold 51,552 shares of BridgeBio Pharma stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $28.59, for a total transaction of $1,473,871.68. Following the completion of the transaction, the chief executive officer now owns 4,813,197 shares in the company, valued at $137,609,302.23. The disclosure for this sale can be found here. Insiders have sold 1,574,235 shares of company stock worth $54,622,379 in the last ninety days. 28.52% of the stock is owned by corporate insiders.

BridgeBio Pharma Profile

BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.