BridgeBio Pharma, Inc. $BBIO Shares Newly Purchased by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. purchased a new stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the third quarter, HoldingsChannel.com reports. The firm purchased 20,183 shares of the company’s stock, valued at approximately $1,328,000.

A number of other hedge funds and other institutional investors have also bought and sold shares of BBIO. Silvant Capital Management LLC purchased a new stake in BridgeBio Pharma in the 2nd quarter worth approximately $28,000. Root Financial Partners LLC bought a new stake in shares of BridgeBio Pharma in the 3rd quarter worth approximately $28,000. SBI Securities Co. Ltd. increased its stake in shares of BridgeBio Pharma by 55.3% during the third quarter. SBI Securities Co. Ltd. now owns 441 shares of the company’s stock valued at $29,000 after buying an additional 157 shares during the period. Allworth Financial LP purchased a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $31,000. Finally, Mitsubishi UFJ Asset Management Co. Ltd. bought a new position in shares of BridgeBio Pharma during the second quarter valued at approximately $44,000. Institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, CAO Maricel Apuli sold 2,000 shares of the stock in a transaction on Friday, October 30th. The stock was sold at an average price of $72.85, for a total value of $145,700.00. Following the completion of the transaction, the chief accounting officer owned 120,687 shares in the company, valued at approximately $8,792,047.95. This represents a 1.63% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 10,000 shares of the firm’s stock in a transaction on Thursday, September 17th. The shares were sold at an average price of $69.08, for a total value of $690,800.00. Following the transaction, the chief executive officer directly owned 495,686 shares of the company’s stock, valued at $34,241,988.88. This represents a 1.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last ninety days, insiders sold 56,980 shares of company stock worth $4,563,699. 14.23% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of analysts recently commented on the company. Weiss Ratings lowered BridgeBio Pharma from a “sell (d)” rating to a “sell (d-)” rating in a research note on Friday, September 25th. Truist Financial boosted their price objective on shares of BridgeBio Pharma from $102.00 to $107.00 and gave the company a “buy” rating in a research report on Wednesday, August 12th. Barclays dropped their target price on shares of BridgeBio Pharma from $157.00 to $156.00 and set an “overweight” rating for the company in a research report on Wednesday, October 7th. TD Cowen cut their target price on shares of BridgeBio Pharma from $110.00 to $100.00 and set a “buy” rating on the stock in a research note on Friday, October 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of BridgeBio Pharma from $100.00 to $111.00 and gave the company an “overweight” rating in a research report on Wednesday, August 12th. Nineteen equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $104.26.

BridgeBio Pharma Stock Performance

Shares of NASDAQ:BBIO opened at $74.29 on Friday. BridgeBio Pharma, Inc. has a 52-week low of $60.55 and a 52-week high of $93.42. The firm has a market capitalization of $14.47 billion, a P/E ratio of -24.44 and a beta of 0.97. The stock has a 50 day moving average price of $69.76 and a 200-day moving average price of $72.78.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, October 29th. The company reported ($0.42) EPS for the quarter, beating analysts’ consensus estimates of ($0.54) by $0.12. The firm had revenue of $353.17 million during the quarter, compared to analysts’ expectations of $293.47 million. During the same quarter in the previous year, the business earned ($0.95) EPS. The company’s revenue for the quarter was up 192.6% compared to the same quarter last year. On average, equities analysts forecast that BridgeBio Pharma, Inc. will post -2.55 EPS for the current fiscal year.

BridgeBio Pharma Profile

BridgeBio Pharma is a biopharmaceutical company that discovers, develops and commercializes medicines for genetic diseases and cancers. Founded in 2015, the company advances programs through a network of research and development subsidiaries focused on specific conditions and therapeutic areas.

Its products include Attruby (acoramidis), an FDA-approved treatment for adults with transthyretin amyloid cardiomyopathy. BridgeBio also develops a pipeline of investigational therapies aimed at diseases with well-understood genetic causes, including rare and inherited conditions.

BridgeBio is headquartered in Palo Alto, California.