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

Mizuho Markets Americas LLC grew its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5.9% during the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. 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 owned approximately 0.09% of BridgeBio Pharma worth $12,720,000 at the end of the most recent reporting period.

Other institutional investors have also bought and sold shares of the company. Brooklands Fund Management Ltd purchased a new stake in BridgeBio Pharma in the 4th quarter valued at $210,348,000. Price T Rowe Associates Inc. MD boosted its holdings in BridgeBio Pharma by 144.2% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 3,828,746 shares of the company’s stock worth $292,862,000 after acquiring an additional 2,261,181 shares during the last quarter. Janus Henderson Group PLC boosted its holdings in BridgeBio Pharma by 25.8% during the 4th quarter. Janus Henderson Group PLC now owns 11,000,457 shares of the company’s stock worth $841,349,000 after acquiring an additional 2,259,378 shares during the last quarter. Norges Bank bought a new stake in shares of BridgeBio Pharma in the 4th quarter worth $116,802,000. Finally, Wellington Management Group LLP grew its stake in shares of BridgeBio Pharma by 130.4% in the 4th quarter. Wellington Management Group LLP now owns 2,348,731 shares of the company’s stock worth $179,654,000 after acquiring an additional 1,329,537 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

Insider Transactions at BridgeBio Pharma

In related news, Director Randal W. Scott sold 10,000 shares of the company’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $67.15, for a total value of $671,500.00. Following the transaction, the director 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 Securities & Exchange Commission, which is accessible through this link. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CEO Neil Kumar sold 40,000 shares of the company’s stock in a transaction that occurred on Thursday, June 4th. The shares were sold at an average price of $67.46, for a total value of $2,698,400.00. Following the completion of the transaction, the chief executive officer owned 535,686 shares in the company, valued at approximately $36,137,377.56. The trade was a 6.95% 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 quarter, insiders sold 432,117 shares of company stock valued at $32,633,740. Corporate insiders own 14.23% of the company’s stock.

BridgeBio Pharma Price Performance

NASDAQ BBIO opened at $82.93 on Friday. The stock has a market capitalization of $16.24 billion, a price-to-earnings ratio of -22.17 and a beta of 0.95. BridgeBio Pharma, Inc. has a one year low of $42.09 and a one year high of $93.42. The business’s fifty day moving average is $72.33 and its 200-day moving average is $72.45.

BridgeBio Pharma (NASDAQ:BBIO) last posted its quarterly earnings results on Thursday, May 7th. The company reported ($0.84) earnings per share 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 period in the prior year, the firm posted ($0.88) EPS. The business’s revenue for the quarter was up 66.8% compared to the same quarter last year. Research analysts expect that BridgeBio Pharma, Inc. will post -2.29 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of research firms recently weighed in on BBIO. Truist Financial raised their price target on shares of BridgeBio Pharma from $95.00 to $102.00 and gave the company a “buy” rating in a research report on Wednesday, April 29th. Citigroup upped their price objective on shares of BridgeBio Pharma from $82.00 to $93.00 and gave the stock a “neutral” rating in a research report on Thursday, July 16th. HC Wainwright increased their price objective on shares of BridgeBio Pharma from $110.00 to $120.00 and gave the company a “buy” rating in a research note on Monday, July 13th. Morgan Stanley lifted their target price on shares of BridgeBio Pharma from $94.00 to $98.00 and gave the stock an “overweight” rating in a research report on Thursday, May 28th. Finally, Royal Bank Of Canada started coverage on BridgeBio Pharma in a research note on Thursday, April 9th. They issued an “outperform” rating and a $100.00 target price on the stock. Twenty equities research analysts have rated the stock with a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, BridgeBio Pharma currently has a consensus rating of “Moderate Buy” and an average target price of $95.21.

About BridgeBio Pharma

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.