Kazazian Asset Management LLC Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Kazazian Asset Management LLC acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm acquired 13,520 shares of the company’s stock, valued at approximately $371,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% in the 4th quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company’s stock valued at $28,000 after acquiring an additional 472 shares during the period. Advisors Asset Management Inc. increased its holdings in shares of BridgeBio Pharma by 56.1% in the 3rd quarter. Advisors Asset Management Inc. now owns 4,576 shares of the company’s stock valued at $117,000 after acquiring an additional 1,645 shares during the period. Avanza Fonder AB purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at $181,000. First Bank & Trust purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at $205,000. Finally, Moss Adams Wealth Advisors LLC purchased a new position in shares of BridgeBio Pharma in the 4th quarter valued at $208,000. 99.85% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In other news, CEO Neil Kumar sold 326,932 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $11,864,362.28. Following the sale, the chief executive officer now owns 5,371,515 shares in the company, valued at $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CFO Brian C. Stephenson sold 68,000 shares of the company’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $36.29, for a total value of $2,467,720.00. Following the completion of the sale, the chief financial officer now owns 93,758 shares in the company, valued at $3,402,477.82. The trade was a 42.04 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders sold 9,579,739 shares of company stock valued at $323,171,901. 24.66% of the stock is owned by company insiders.

BridgeBio Pharma Stock Performance

Shares of BBIO opened at $32.19 on Wednesday. The stock has a 50-day moving average of $33.79 and a two-hundred day moving average of $28.97. BridgeBio Pharma, Inc. has a one year low of $21.62 and a one year high of $39.47. The stock has a market cap of $6.12 billion, a P/E ratio of -11.29 and a beta of 1.07.

BridgeBio Pharma (NASDAQ:BBIO) last issued its quarterly earnings results on Thursday, February 20th. The company reported ($1.31) EPS for the quarter, missing analysts’ consensus estimates of ($1.09) by ($0.22). The business had revenue of $5.88 million during the quarter, compared to the consensus estimate of $4.04 million. Analysts predict that BridgeBio Pharma, Inc. will post -3.67 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on the company. Cantor Fitzgerald reiterated an “overweight” rating and issued a $95.00 price target on shares of BridgeBio Pharma in a report on Friday, February 21st. Scotiabank raised their price objective on BridgeBio Pharma from $49.00 to $52.00 and gave the stock a “sector outperform” rating in a research report on Friday, February 21st. HC Wainwright reissued a “buy” rating and issued a $49.00 price objective on shares of BridgeBio Pharma in a research report on Thursday, February 13th. Citigroup raised their price objective on BridgeBio Pharma from $45.00 to $49.00 and gave the stock a “buy” rating in a research report on Friday, February 21st. Finally, Evercore ISI raised their price objective on BridgeBio Pharma from $45.00 to $50.00 and gave the stock an “outperform” rating in a research report on Monday, December 23rd. One analyst has rated the stock with a hold rating and eleven have issued a buy rating to the company. Based on data from MarketBeat, BridgeBio Pharma has an average rating of “Moderate Buy” and a consensus price target of $51.55.

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.