BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Position Boosted by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5,393.7% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 35,709 shares of the company’s stock after buying an additional 35,059 shares during the period. Daiwa Securities Group Inc.’s holdings in BridgeBio Pharma were worth $904,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Bfsg LLC boosted its position in shares of BridgeBio Pharma by 175.6% during the 2nd quarter. Bfsg LLC now owns 1,240 shares of the company’s stock valued at $31,000 after purchasing an additional 790 shares in the last quarter. YHB Investment Advisors Inc. bought a new position in shares of BridgeBio Pharma during the 1st quarter valued at about $34,000. Quarry LP bought a new position in shares of BridgeBio Pharma during the 4th quarter valued at about $50,000. EntryPoint Capital LLC bought a new position in shares of BridgeBio Pharma during the 1st quarter valued at about $117,000. Finally, Assetmark Inc. boosted its position in shares of BridgeBio Pharma by 46.8% during the 4th quarter. Assetmark Inc. now owns 2,931 shares of the company’s stock valued at $118,000 after purchasing an additional 935 shares in the last quarter. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Trading Down 2.9 %

Shares of NASDAQ:BBIO opened at $26.18 on Monday. The business has a fifty day simple moving average of $26.50 and a 200 day simple moving average of $27.36. BridgeBio Pharma, Inc. has a 1 year low of $21.62 and a 1 year high of $44.32. The firm has a market cap of $4.90 billion, a price-to-earnings ratio of -8.13 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last announced its quarterly earnings results on Thursday, August 1st. The company reported ($0.39) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.00) by $0.61. The firm had revenue of $2.17 million for the quarter, compared to analyst estimates of $3.96 million. During the same quarter in the prior year, the firm earned ($0.98) earnings per share. The firm’s quarterly revenue was up 32.1% compared to the same quarter last year. On average, sell-side analysts forecast that BridgeBio Pharma, Inc. will post -2.49 EPS for the current year.

Insider Transactions at BridgeBio Pharma

In related news, CFO Brian C. Stephenson sold 4,155 shares of BridgeBio Pharma stock in a transaction on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $102,586.95. Following the completion of the sale, the chief financial officer now owns 85,192 shares of the company’s stock, valued at approximately $2,103,390.48. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other news, CEO Neil Kumar sold 27,389 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, August 19th. The shares were sold at an average price of $24.69, for a total value of $676,234.41. Following the transaction, the chief executive officer now owns 4,897,443 shares of the company’s stock, valued at $120,917,867.67. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CFO Brian C. Stephenson sold 4,155 shares of the business’s stock in a transaction on Monday, August 19th. The stock was sold at an average price of $24.69, for a total transaction of $102,586.95. Following the completion of the sale, the chief financial officer now owns 85,192 shares of the company’s stock, valued at $2,103,390.48. The disclosure for this sale can be found here. 24.66% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

Several research firms have recently weighed in on BBIO. UBS Group reduced their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating for the company in a research report on Tuesday, May 28th. JPMorgan Chase & Co. reduced their price objective on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating for the company in a research report on Wednesday, August 7th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, September 9th. Bank of America restated a “buy” rating and issued a $42.00 price target on shares of BridgeBio Pharma in a research report on Wednesday, September 11th. Finally, HC Wainwright reiterated a “buy” rating and set a $43.00 price objective on shares of BridgeBio Pharma in a research report on Tuesday, September 3rd. One analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $47.92.

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.