Capital Research Global Investors Boosts Position in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Capital Research Global Investors increased its stake in BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 101.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,212,085 shares of the company’s stock after buying an additional 1,111,975 shares during the period. Capital Research Global Investors owned 1.18% of BridgeBio Pharma worth $68,398,000 as of its most recent SEC filing.

Several other institutional investors also recently added to or reduced their stakes in the stock. EntryPoint Capital LLC purchased a new position in BridgeBio Pharma in the 1st quarter worth about $117,000. American International Group Inc. increased its position in BridgeBio Pharma by 1.0% during the 1st quarter. American International Group Inc. now owns 57,491 shares of the company’s stock valued at $1,778,000 after purchasing an additional 565 shares during the period. Covestor Ltd increased its position in BridgeBio Pharma by 19.4% during the 1st quarter. Covestor Ltd now owns 8,657 shares of the company’s stock valued at $268,000 after purchasing an additional 1,406 shares during the period. Vanguard Group Inc. increased its position in BridgeBio Pharma by 3.3% during the 1st quarter. Vanguard Group Inc. now owns 13,222,126 shares of the company’s stock valued at $408,828,000 after purchasing an additional 421,832 shares during the period. Finally, Mizuho Markets Americas LLC increased its position in BridgeBio Pharma by 15.4% during the 1st quarter. Mizuho Markets Americas LLC now owns 74,309 shares of the company’s stock valued at $2,298,000 after purchasing an additional 9,930 shares during the period. Hedge funds and other institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Performance

BBIO stock traded up $0.35 during trading on Friday, reaching $27.05. The company had a trading volume of 885,929 shares, compared to its average volume of 1,620,302. The firm has a 50-day simple moving average of $27.00 and a 200-day simple moving average of $29.84. The company has a market cap of $5.06 billion, a price-to-earnings ratio of -8.40 and a beta of 1.06. BridgeBio Pharma, Inc. has a twelve month low of $21.62 and a twelve month high of $44.32.

BridgeBio Pharma (NASDAQ:BBIO) last released its earnings results on Thursday, May 2nd. The company reported ($0.05) EPS for the quarter, topping analysts’ consensus estimates of ($0.40) by $0.35. The company had revenue of $211.12 million during the quarter, compared to analyst estimates of $140.06 million. Sell-side analysts expect that BridgeBio Pharma, Inc. will post -3.2 earnings per share for the current year.

Insider Buying and Selling

In other BridgeBio Pharma news, Director Randal W. Scott sold 1,000 shares of BridgeBio Pharma stock in a transaction that occurred on Monday, June 3rd. The shares were sold at an average price of $28.84, for a total transaction of $28,840.00. Following the completion of the sale, the director now directly owns 5,500 shares in the company, valued at approximately $158,620. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 24.66% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of research analysts have commented on the stock. Cantor Fitzgerald reissued an “overweight” rating and set a $70.00 target price on shares of BridgeBio Pharma in a research report on Monday, July 1st. Evercore ISI assumed coverage on shares of BridgeBio Pharma in a research report on Tuesday, May 14th. They set an “outperform” rating and a $50.00 target price on the stock. Bank of America cut their target price on shares of BridgeBio Pharma from $50.00 to $42.00 and set a “buy” rating on the stock in a research report on Tuesday, June 25th. HC Wainwright reissued a “buy” rating and set a $43.00 target price on shares of BridgeBio Pharma in a research report on Thursday, June 20th. Finally, UBS Group cut their price objective on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a research report on Tuesday, May 28th. One equities research analyst has rated the stock with a hold rating, nine have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma presently has a consensus rating of “Buy” and a consensus target price of $48.73.

About BridgeBio Pharma

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.