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

Mirae Asset Global Investments Co. Ltd. raised its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 1.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm 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 large investors have also recently bought and sold shares of the company. Arizona State Retirement System boosted its stake in 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 purchasing an additional 386 shares in the last quarter. Diversified Trust Co boosted its stake in BridgeBio Pharma by 2.5% in the third quarter. Diversified Trust Co now owns 17,111 shares of the company’s stock worth $451,000 after purchasing an additional 411 shares in the last quarter. Envestnet Asset Management Inc. boosted its stake in BridgeBio Pharma by 2.1% in the second quarter. Envestnet Asset Management Inc. now owns 21,164 shares of the company’s stock worth $364,000 after purchasing an additional 437 shares in the last quarter. Amalgamated Bank boosted its stake in BridgeBio Pharma by 3.8% in the third quarter. Amalgamated Bank now owns 15,775 shares of the company’s stock worth $416,000 after purchasing an additional 576 shares in the last quarter. Finally, Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in 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 worth $403,000 after purchasing an additional 720 shares in the last quarter. 99.85% of the stock is currently owned by institutional investors.

Insider Activity at BridgeBio Pharma

In related news, Director Randal W. Scott sold 2,500 shares of BridgeBio Pharma stock in a transaction that occurred 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 sale, the director now owns 6,500 shares of the company’s stock, valued at approximately $221,000. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 28.52% of the stock is owned by insiders.

Analyst Ratings Changes

A number of equities analysts have commented on the company. Raymond James assumed coverage on BridgeBio Pharma in a research note on Thursday, March 21st. They issued an “outperform” rating and a $45.00 price objective on the stock. BMO Capital Markets assumed coverage on BridgeBio Pharma in a report on Wednesday, January 31st. They issued a “market perform” rating and a $37.00 price target on the stock. Citigroup raised their price target on BridgeBio Pharma from $42.00 to $46.00 and gave the company a “buy” rating in a report on Friday, February 23rd. HC Wainwright restated a “buy” rating and set a $47.00 target price on shares of BridgeBio Pharma in a report on Monday, March 4th. Finally, Mizuho reduced their target price on BridgeBio Pharma from $60.00 to $53.00 and set a “buy” rating on the stock in a report on Tuesday, March 5th. Two investment analysts have rated the stock with a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $47.17.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $24.95 on Friday. The firm has a market cap of $4.39 billion, a P/E ratio of -6.33 and a beta of 1.03. The stock’s 50-day moving average is $30.72 and its 200-day moving average is $31.73. BridgeBio Pharma, Inc. has a one year low of $12.75 and a one year high of $44.32.

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

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.