Daiwa Securities Group Inc. Buys 35,059 Shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Daiwa Securities Group Inc. increased its stake in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) by 5,393.7% during the second quarter, HoldingsChannel reports. The fund owned 35,709 shares of the company’s stock after acquiring an additional 35,059 shares during the quarter. Daiwa Securities Group Inc.’s holdings in BridgeBio Pharma were worth $904,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of BBIO. Janus Henderson Group PLC increased its position in BridgeBio Pharma by 189.7% during the first quarter. Janus Henderson Group PLC now owns 3,312,706 shares of the company’s stock worth $102,402,000 after acquiring an additional 2,169,143 shares during the period. Vanguard Group Inc. increased its holdings in BridgeBio Pharma by 13.5% in the 4th quarter. Vanguard Group Inc. now owns 12,800,294 shares of the company’s stock valued at $516,748,000 after buying an additional 1,524,313 shares during the period. Norges Bank bought a new stake in BridgeBio Pharma in the 4th quarter valued at $46,843,000. Capital Research Global Investors increased its holdings in BridgeBio Pharma by 101.1% in the 1st quarter. Capital Research Global Investors now owns 2,212,085 shares of the company’s stock valued at $68,398,000 after buying an additional 1,111,975 shares during the period. Finally, UBS Group AG increased its holdings in BridgeBio Pharma by 545.9% in the 4th quarter. UBS Group AG now owns 985,510 shares of the company’s stock valued at $39,785,000 after buying an additional 832,940 shares during the period. Institutional investors own 99.85% of the company’s stock.

BridgeBio Pharma Stock Down 2.9 %

Shares of NASDAQ BBIO opened at $26.18 on Monday. The firm’s 50-day simple moving average is $26.50 and its 200 day simple moving average is $27.36. The company has a market cap of $4.90 billion, a price-to-earnings ratio of -8.13 and a beta of 1.07. BridgeBio Pharma, Inc. has a 12-month low of $21.62 and a 12-month high of $44.32.

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

Wall Street Analyst Weigh In

Several brokerages have issued reports on BBIO. Bank of America reissued a “buy” rating and issued a $42.00 price target on shares of BridgeBio Pharma in a report on Wednesday, September 11th. Cantor Fitzgerald reissued an “overweight” rating and issued a $70.00 price target on shares of BridgeBio Pharma in a report on Monday, September 9th. JPMorgan Chase & Co. lowered their price target on shares of BridgeBio Pharma from $46.00 to $43.00 and set an “overweight” rating on the stock in a report on Wednesday, August 7th. UBS Group lowered their price target on shares of BridgeBio Pharma from $51.00 to $47.00 and set a “buy” rating on the stock in a report on Tuesday, May 28th. Finally, Piper Sandler started coverage on shares of BridgeBio Pharma in a research note on Wednesday, September 4th. They issued an “overweight” rating and a $46.00 target price on the stock. One equities research analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $47.92.

Insider Buying and Selling at BridgeBio Pharma

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

BridgeBio Pharma Company 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.