Mizuho Markets Americas LLC Grows Position in BridgeBio Pharma, Inc. $BBIO

Mizuho Markets Americas LLC lifted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.9% during the first quarter, HoldingsChannel.com reports. The institutional investor owned 171,288 shares of the company’s stock after purchasing an additional 9,500 shares during the quarter. Mizuho Markets Americas LLC’s holdings in BridgeBio Pharma were worth $12,720,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of BBIO. Harvest Fund Management Co. Ltd purchased a new stake in BridgeBio Pharma in the third quarter worth approximately $34,000. Jones Financial Companies Lllp purchased a new position in shares of BridgeBio Pharma during the first quarter worth approximately $35,000. Farther Finance Advisors LLC raised its stake in shares of BridgeBio Pharma by 91.4% during the fourth quarter. Farther Finance Advisors LLC now owns 513 shares of the company’s stock worth $39,000 after acquiring an additional 245 shares in the last quarter. Global Retirement Partners LLC raised its stake in shares of BridgeBio Pharma by 271.5% during the fourth quarter. Global Retirement Partners LLC now owns 509 shares of the company’s stock worth $39,000 after acquiring an additional 372 shares in the last quarter. Finally, Kemnay Advisory Services Inc. bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth approximately $41,000. 99.85% of the stock is owned by hedge funds and other institutional investors.

BridgeBio Pharma Stock Performance

Shares of BridgeBio Pharma stock opened at $82.93 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $42.09 and a 52-week high of $93.42. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of -22.17 and a beta of 0.95. The company’s 50 day moving average price is $72.33 and its 200-day moving average price is $72.45.

BridgeBio Pharma (NASDAQ:BBIO) last issued its earnings results on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing the consensus estimate of ($0.70) by ($0.14). The company had revenue of $194.51 million for the quarter, compared to the consensus estimate of $178.07 million. During the same quarter last year, the firm posted ($0.88) earnings per share. The firm’s revenue for the quarter was up 66.8% compared to the same quarter last year. As a group, equities research analysts forecast that BridgeBio Pharma, Inc. will post -2.29 earnings per share for the current fiscal year.

Insider Transactions at BridgeBio Pharma

In other news, Director Randal W. Scott sold 10,000 shares of the stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the sale, the director directly owned 11,589 shares in the company, valued at approximately $778,201.35. This represents a 46.32% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, Director Andrea Ellis sold 17,167 shares of the company’s stock in a transaction that occurred on Thursday, July 9th. The shares were sold at an average price of $84.00, for a total value of $1,442,028.00. Following the transaction, the director directly owned 22,579 shares of the company’s stock, valued at $1,896,636. The trade was a 43.19% decrease in their position. The disclosure for this sale is available in the SEC filing. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. In the last three months, insiders have sold 432,117 shares of company stock valued at $32,633,740. Company insiders own 14.23% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. Citigroup increased their target price on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the company a “neutral” rating in a report on Thursday, July 16th. Canaccord Genuity Group assumed coverage on shares of BridgeBio Pharma in a research note on Wednesday, June 3rd. They issued a “buy” rating and a $104.00 price target for the company. HC Wainwright upped their price target on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research report on Monday, July 13th. Truist Financial raised their price objective on BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research note on Wednesday, April 29th. Finally, Royal Bank Of Canada began coverage on BridgeBio Pharma in a report on Thursday, April 9th. They issued an “outperform” rating and a $100.00 price objective on the stock. Twenty investment analysts have rated the stock with a Buy rating, two have given a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $95.21.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio’s pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.