Mizuho Markets Americas LLC Grows Holdings in BridgeBio Pharma, Inc. $BBIO

Key Points

• Mizuho Markets Americas LLC increased its BridgeBio Pharma stake by 15.3% in the fourth quarter, bringing its holdings to 161,788 shares valued at about $12.4 million.
• Several other institutional investors also boosted or initiated positions, and hedge funds and institutions now own 99.85% of BridgeBio’s stock.
• Insiders have been selling shares, including a director and the CFO, while BridgeBio recently reported a quarterly EPS miss but stronger-than-expected revenue; analysts still maintain a Moderate Buy consensus with an average price target of $88.90.

Mizuho Markets Americas LLC boosted its position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) by 15.3% in the 4th quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 161,788 shares of the company's stock after acquiring an additional 21,416 shares during the period. Mizuho Markets Americas LLC owned about 0.08% of BridgeBio Pharma worth $12,375,000 as of its most recent SEC filing.

Several other large investors have also modified their holdings of BBIO. Legato Capital Management LLC raised its position in BridgeBio Pharma by 64.2% in the 4th quarter. Legato Capital Management LLC now owns 45,225 shares of the company's stock valued at $3,459,000 after purchasing an additional 17,682 shares during the last quarter. Global Retirement Partners LLC raised its position in BridgeBio Pharma by 271.5% during the 4th quarter. Global Retirement Partners LLC now owns 509 shares of the company's stock worth $39,000 after buying an additional 372 shares during the last quarter. Leonteq Securities AG acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth $198,000. PSP Research LLC acquired a new position in shares of BridgeBio Pharma during the 4th quarter worth $546,000. Finally, Handelsbanken Fonder AB grew its stake in shares of BridgeBio Pharma by 9.5% during the 4th quarter. Handelsbanken Fonder AB now owns 37,950 shares of the company's stock worth $2,903,000 after purchasing an additional 3,300 shares during the period. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Buying and Selling

In other news, Director Randal W. Scott sold 10,000 shares of the firm's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $67.15, for a total transaction of $671,500.00. Following the completion of the sale, the director directly owned 11,589 shares of the company's stock, valued at $778,201.35. This trade represents a 46.32% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Also, CFO Thomas Trimarchi sold 13,651 shares of the stock in a transaction that occurred on Monday, May 18th. The stock was sold at an average price of $65.08, for a total value of $888,407.08. Following the completion of the transaction, the chief financial officer owned 359,194 shares in the company, valued at $23,376,345.52. This represents a 3.66% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. The transaction was executed under a pre-arranged Rule 10b5-1 trading plan. Over the last quarter, insiders have sold 210,572 shares of company stock worth $14,364,492. Insiders own 14.23% of the company's stock.

BridgeBio Pharma Trading Down 1.7%

BBIO stock opened at $69.12 on Friday. BridgeBio Pharma, Inc. has a one year low of $31.77 and a one year high of $84.94. The firm has a market capitalization of $13.54 billion, a PE ratio of -18.48 and a beta of 1.02. The firm has a 50-day moving average of $71.30 and a two-hundred day moving average of $71.86.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its quarterly earnings data on Thursday, May 7th. The company reported ($0.84) EPS for the quarter, missing analysts' consensus estimates of ($0.70) by ($0.14). The business had revenue of $194.52 million for the quarter, compared to the consensus estimate of $178.07 million. During the same period in the previous year, the company earned ($0.88) earnings per share. The company's quarterly revenue was up 66.8% on a year-over-year basis. On average, equities research analysts anticipate that BridgeBio Pharma, Inc. will post -2.27 earnings per share for the current year.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on BBIO shares. Royal Bank Of Canada started coverage on shares of BridgeBio Pharma in a research note on Thursday, April 9th. They set an "outperform" rating and a $100.00 price target on the stock. Raymond James Financial set a $89.00 price objective on shares of BridgeBio Pharma and gave the stock an "outperform" rating in a report on Thursday, February 12th. Mizuho reaffirmed an "outperform" rating and set a $106.00 price target on shares of BridgeBio Pharma in a research report on Tuesday, April 28th. Truist Financial upped their price target on BridgeBio Pharma from $95.00 to $102.00 and gave the stock a "buy" rating in a report on Wednesday, April 29th. Finally, Wells Fargo & Company lifted their price objective on shares of BridgeBio Pharma from $88.00 to $98.00 and gave the company an "overweight" rating in a research note on Friday, February 13th. Twenty-three investment analysts have rated the stock with a Buy rating, one has issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and an average price target of $88.90.

BridgeBio Pharma Company Profile

BridgeBio Pharma, Inc is a clinical-stage biopharmaceutical company headquartered in Palo Alto, California. Founded in 2015 by Neil Kumar, the company is dedicated to discovering, developing and delivering transformative medicines for patients with genetic diseases and cancers. BridgeBio operates an integrated model that spans target identification, preclinical research, clinical development and commercialization, aiming to streamline the process from bench to bedside.

BridgeBio's pipeline comprises multiple therapeutic modalities, including small molecules, biologics and genetic therapies.

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