Mirae Asset Global Investments Co. Ltd. Has $176,000 Stock Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Mirae Asset Global Investments Co. Ltd. cut its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 7.4% in the fourth quarter, Holdings Channel reports. The institutional investor owned 6,298 shares of the company’s stock after selling 503 shares during the quarter. Mirae Asset Global Investments Co. Ltd.’s holdings in BridgeBio Pharma were worth $176,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently modified their holdings of BBIO. CWM LLC increased its position in BridgeBio Pharma by 132.9% during the third quarter. CWM LLC now owns 3,442 shares of the company’s stock worth $88,000 after acquiring an additional 1,964 shares during the period. Creative Planning bought a new stake in BridgeBio Pharma in the 3rd quarter valued at $772,000. Allspring Global Investments Holdings LLC grew its position in BridgeBio Pharma by 17.7% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 5,322 shares of the company’s stock worth $135,000 after purchasing an additional 801 shares during the last quarter. Values First Advisors Inc. bought a new position in shares of BridgeBio Pharma during the 3rd quarter worth about $57,000. Finally, China Universal Asset Management Co. Ltd. increased its holdings in shares of BridgeBio Pharma by 64.5% during the 3rd quarter. China Universal Asset Management Co. Ltd. now owns 36,165 shares of the company’s stock worth $921,000 after purchasing an additional 14,181 shares during the period. 99.85% of the stock is owned by institutional investors.

Insider Buying and Selling

In related news, major shareholder Global Investors Lp Viking sold 3,065,616 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were sold at an average price of $34.90, for a total transaction of $106,989,998.40. Following the transaction, the insider now owns 22,055,375 shares in the company, valued at $769,732,587.50. This represents a 12.20 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Neil Kumar sold 27,389 shares of the stock in a transaction dated Tuesday, November 19th. The stock was sold at an average price of $22.41, for a total transaction of $613,787.49. Following the sale, the chief executive officer now directly owns 4,897,443 shares in the company, valued at approximately $109,751,697.63. This represents a 0.56 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 3,492,093 shares of company stock worth $122,029,004 in the last quarter. 24.66% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several research firms recently weighed in on BBIO. Scotiabank increased their target price on shares of BridgeBio Pharma from $48.00 to $49.00 and gave the company a “sector outperform” rating in a research note on Wednesday. Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. HC Wainwright restated a “buy” rating and set a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday. Leerink Partners cut their target price on BridgeBio Pharma from $47.00 to $46.00 and set an “outperform” rating for the company in a research note on Thursday, October 17th. Finally, Bank of America lifted their price target on shares of BridgeBio Pharma from $42.00 to $45.00 and gave the stock a “buy” rating in a research note on Monday, November 25th. One equities research analyst has rated the stock with a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $49.08.

BridgeBio Pharma Stock Performance

Shares of NASDAQ BBIO opened at $31.56 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $21.62 and a 52-week high of $41.04. The business has a fifty day moving average of $30.93 and a two-hundred day moving average of $27.49. The stock has a market cap of $5.96 billion, a PE ratio of -13.10 and a beta of 1.07.

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.