BridgeBio Pharma, Inc. (NASDAQ:BBIO) Stock Position Raised by The Manufacturers Life Insurance Company
The Manufacturers Life Insurance Company lifted its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO – Free Report) by 454.7% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 245,791 shares of the company’s stock after acquiring an additional 201,481 shares during the quarter. The Manufacturers Life Insurance Company owned 0.15% of BridgeBio Pharma worth $4,228,000 at the end of the most recent reporting period.
Other hedge funds also recently modified their holdings of the company. Raymond James & Associates purchased a new stake in shares of BridgeBio Pharma in the second quarter valued at $297,000. Tekla Capital Management LLC purchased a new stake in shares of BridgeBio Pharma in the first quarter valued at $2,502,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in shares of BridgeBio Pharma by 12.3% in the second quarter. Mirae Asset Global Investments Co. Ltd. now owns 68,350 shares of the company’s stock valued at $1,172,000 after purchasing an additional 7,498 shares in the last quarter. Profund Advisors LLC lifted its holdings in shares of BridgeBio Pharma by 86.1% in the second quarter. Profund Advisors LLC now owns 94,465 shares of the company’s stock valued at $1,625,000 after purchasing an additional 43,692 shares in the last quarter. Finally, Rhenman & Partners Asset Management AB purchased a new stake in shares of BridgeBio Pharma in the first quarter valued at $2,315,000. Hedge funds and other institutional investors own 90.85% of the company’s stock.
Analysts Set New Price Targets
BBIO has been the subject of a number of research analyst reports. JPMorgan Chase & Co. reduced their target price on BridgeBio Pharma from $42.00 to $38.00 and set an “overweight” rating for the company in a report on Thursday, August 17th. Cantor Fitzgerald assumed coverage on BridgeBio Pharma in a report on Tuesday, October 24th. They set an “overweight” rating and a $50.00 price objective for the company. Mizuho reiterated a “buy” rating and set a $60.00 price objective on shares of BridgeBio Pharma in a report on Monday, August 28th. Finally, Citigroup assumed coverage on BridgeBio Pharma in a report on Tuesday, November 7th. They set a “buy” rating and a $42.00 price objective for the company. One equities research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average price target of $38.75.
Check Out Our Latest Stock Report on BridgeBio Pharma
BridgeBio Pharma Price Performance
NASDAQ BBIO opened at $33.61 on Friday. BridgeBio Pharma, Inc. has a fifty-two week low of $6.64 and a fifty-two week high of $36.36. The stock’s 50-day moving average is $27.48 and its two-hundred day moving average is $25.31. The firm has a market cap of $5.85 billion, a P/E ratio of -8.62 and a beta of 1.00.
BridgeBio Pharma (NASDAQ:BBIO – Get Free Report) last posted its earnings results on Thursday, November 2nd. The company reported ($1.08) earnings per share for the quarter, missing the consensus estimate of ($0.86) by ($0.22). The business had revenue of $4.09 million during the quarter, compared to the consensus estimate of $5.29 million. On average, equities analysts expect that BridgeBio Pharma, Inc. will post -3.91 EPS for the current year.
About BridgeBio Pharma (Free Report)
BridgeBio Pharma, Inc engages in the discovery, development, and delivery of various medicines for genetic diseases. The company has a pipeline of 30 development programs that include product candidates ranging from early discovery to late-stage development. Its products in development programs include AG10 and BBP-265, a small molecule stabilizer of transthyretin, or TTR that is in Phase 3 clinical trial for the treatment of TTR amyloidosis-cardiomyopathy, or ATTR-CM; BBP-831, a small molecule selective FGFR1-3 inhibitor, which is Phase 2 clinical trial to treat achondroplasia in pediatric patients; and BBP-631, an AAV5 gene transfer product candidate that is in Phase 2 clinical trial for the treatment of congenital adrenal hyperplasia, or CAH, driven by 21-hydroxylase deficiency, or 21OHD.
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