BridgeBio Pharma, Inc. (NASDAQ:BBIO) Shares Purchased by Mackenzie Financial Corp

Mackenzie Financial Corp lifted its holdings in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 101.1% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 19,116 shares of the company's stock after acquiring an additional 9,611 shares during the quarter. Mackenzie Financial Corp's holdings in BridgeBio Pharma were worth $661,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also recently added to or reduced their stakes in the company. GAMMA Investing LLC boosted its stake in shares of BridgeBio Pharma by 71.0% in the first quarter. GAMMA Investing LLC now owns 920 shares of the company's stock valued at $32,000 after purchasing an additional 382 shares during the period. Itau Unibanco Holding S.A. acquired a new position in BridgeBio Pharma in the 4th quarter worth $41,000. Sterling Capital Management LLC lifted its holdings in BridgeBio Pharma by 554.6% in the 4th quarter. Sterling Capital Management LLC now owns 1,787 shares of the company's stock worth $49,000 after buying an additional 1,514 shares in the last quarter. GF Fund Management CO. LTD. purchased a new position in BridgeBio Pharma in the 4th quarter valued at about $109,000. Finally, CWM LLC grew its stake in shares of BridgeBio Pharma by 12.8% during the first quarter. CWM LLC now owns 5,261 shares of the company's stock valued at $182,000 after acquiring an additional 598 shares in the last quarter. 99.85% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at BridgeBio Pharma

In other BridgeBio Pharma news, Director Andrea Ellis sold 17,167 shares of the stock in a transaction on Tuesday, August 5th. The stock was sold at an average price of $49.00, for a total value of $841,183.00. Following the sale, the director directly owned 18,589 shares of the company's stock, valued at $910,861. This trade represents a 48.01% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Genetic Disorder L.P. Kkr sold 6,000,000 shares of the firm's stock in a transaction on Monday, May 12th. The shares were sold at an average price of $34.20, for a total value of $205,200,000.00. Following the completion of the sale, the insider owned 13,260,971 shares in the company, valued at $453,525,208.20. The trade was a 31.15% decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 9,767,322 shares of company stock worth $369,921,586. 18.20% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several research analysts recently commented on the company. Raymond James Financial began coverage on BridgeBio Pharma in a research note on Wednesday, July 30th. They issued an "outperform" rating and a $56.00 price target on the stock. Piper Sandler lifted their price objective on BridgeBio Pharma from $63.00 to $68.00 and gave the stock an "overweight" rating in a report on Monday, July 14th. Truist Financial initiated coverage on BridgeBio Pharma in a research note on Monday, July 21st. They set a "buy" rating and a $66.00 target price for the company. Jefferies Financial Group started coverage on shares of BridgeBio Pharma in a research report on Monday, July 14th. They set a "buy" rating and a $70.00 price target for the company. Finally, Citigroup lifted their price target on shares of BridgeBio Pharma from $58.00 to $67.00 and gave the stock a "buy" rating in a research note on Friday, July 11th. One equities research analyst has rated the stock with a sell rating and seventeen have assigned a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $61.35.

BridgeBio Pharma Price Performance

Shares of NASDAQ:BBIO traded up $1.14 during trading on Thursday, reaching $45.95. 2,662,133 shares of the company's stock traded hands, compared to its average volume of 2,952,748. The stock has a market capitalization of $8.78 billion, a P/E ratio of -11.23 and a beta of 1.23. BridgeBio Pharma, Inc. has a 12 month low of $21.72 and a 12 month high of $49.77. The company has a 50 day moving average of $43.42 and a 200-day moving average of $37.40.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported ($0.95) EPS for the quarter, missing analysts' consensus estimates of ($0.83) by ($0.12). The business had revenue of $110.57 million during the quarter, compared to the consensus estimate of $98.46 million. The firm's revenue for the quarter was up 4999.9% compared to the same quarter last year. During the same period in the prior year, the firm posted ($0.39) EPS. Equities research analysts predict that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

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.