Kazazian Asset Management LLC Makes New $371,000 Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Kazazian Asset Management LLC purchased a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 13,520 shares of the company’s stock, valued at approximately $371,000.

A number of other hedge funds also recently bought and sold shares of the business. Xponance Inc. boosted its position in BridgeBio Pharma by 9.1% during the fourth quarter. Xponance Inc. now owns 10,089 shares of the company’s stock worth $277,000 after purchasing an additional 844 shares in the last quarter. Intech Investment Management LLC boosted its position in BridgeBio Pharma by 47.1% during the fourth quarter. Intech Investment Management LLC now owns 65,647 shares of the company’s stock worth $1,801,000 after purchasing an additional 21,024 shares in the last quarter. Primecap Management Co. CA boosted its position in BridgeBio Pharma by 1.0% during the fourth quarter. Primecap Management Co. CA now owns 915,500 shares of the company’s stock worth $25,121,000 after purchasing an additional 8,776 shares in the last quarter. Tocqueville Asset Management L.P. boosted its position in BridgeBio Pharma by 7.2% during the fourth quarter. Tocqueville Asset Management L.P. now owns 18,975 shares of the company’s stock worth $521,000 after purchasing an additional 1,275 shares in the last quarter. Finally, Cibc World Markets Corp purchased a new position in BridgeBio Pharma during the fourth quarter worth approximately $361,000. Hedge funds and other institutional investors own 99.85% of the company’s stock.

Insider Buying and Selling

In related news, CEO Neil Kumar sold 326,932 shares of the stock in a transaction that occurred on 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 completion of the transaction, the chief executive officer now directly owns 5,371,515 shares in the company, valued at approximately $194,932,279.35. This represents a 5.74 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CFO Brian C. Stephenson sold 68,000 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 93,758 shares of the company’s stock, valued at $3,402,477.82. The trade was a 42.04 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last three months, insiders sold 9,579,739 shares of company stock worth $323,171,901. Company insiders own 24.66% of the company’s stock.

Analyst Ratings Changes

BBIO has been the subject of a number of research analyst reports. Bank of America increased their target price on BridgeBio Pharma from $42.00 to $45.00 and gave the company a “buy” rating in a report on Monday, November 25th. Citigroup increased their target price on BridgeBio Pharma from $45.00 to $49.00 and gave the company a “buy” rating in a report on Friday, February 21st. Scotiabank increased their target price on BridgeBio Pharma from $49.00 to $52.00 and gave the company a “sector outperform” rating in a report on Friday, February 21st. HC Wainwright reissued a “buy” rating and set a $49.00 target price on shares of BridgeBio Pharma in a report on Thursday, February 13th. Finally, Evercore ISI increased their target price on BridgeBio Pharma from $45.00 to $50.00 and gave the company an “outperform” rating in a report on Monday, December 23rd. One research analyst has rated the stock with a hold rating and eleven have given a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $51.55.

BridgeBio Pharma Stock Performance

NASDAQ:BBIO opened at $32.19 on Wednesday. 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 PE ratio of -11.29 and a beta of 1.07. The stock has a 50 day moving average price of $33.79 and a 200 day moving average price of $28.97.

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

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.