Caas Capital Management LP Makes New Investment in BridgeBio Pharma, Inc. (NASDAQ:BBIO)

Caas Capital Management LP acquired a new position in shares of BridgeBio Pharma, Inc. (NASDAQ:BBIO - Free Report) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm acquired 8,600 shares of the company's stock, valued at approximately $297,000.

Several other hedge funds also recently modified their holdings of BBIO. Steward Partners Investment Advisory LLC increased its holdings in shares of BridgeBio Pharma by 85.8% in the fourth quarter. Steward Partners Investment Advisory LLC now owns 1,022 shares of the company's stock valued at $28,000 after purchasing an additional 472 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in BridgeBio Pharma by 1.7% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 1,306,765 shares of the company's stock valued at $35,858,000 after acquiring an additional 21,963 shares during the last quarter. Arizona State Retirement System boosted its stake in BridgeBio Pharma by 9.7% in the fourth quarter. Arizona State Retirement System now owns 35,470 shares of the company's stock valued at $973,000 after acquiring an additional 3,141 shares during the last quarter. Raymond James Financial Inc. bought a new position in BridgeBio Pharma in the fourth quarter valued at approximately $456,000. Finally, Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in BridgeBio Pharma by 25.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 31,530 shares of the company's stock valued at $865,000 after acquiring an additional 6,466 shares during the last quarter. Institutional investors and hedge funds own 99.85% of the company's stock.

Insider Transactions at BridgeBio Pharma

In other news, Director Frank Mccormick sold 100,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, June 24th. The shares were sold at an average price of $44.23, for a total transaction of $4,423,000.00. Following the sale, the director owned 879,979 shares of the company's stock, valued at approximately $38,921,471.17. The trade was a 10.20% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, CEO Neil Kumar sold 75,000 shares of BridgeBio Pharma stock in a transaction dated Tuesday, April 22nd. The shares were sold at an average price of $34.11, for a total transaction of $2,558,250.00. Following the sale, the chief executive officer directly owned 4,873,447 shares in the company, valued at $166,233,277.17. The trade was a 1.52% decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 9,936,181 shares of company stock valued at $375,878,164. Company insiders own 18.20% of the company's stock.

BridgeBio Pharma Stock Performance

NASDAQ BBIO traded up $0.20 on Friday, hitting $46.47. The stock had a trading volume of 2,187,980 shares, compared to its average volume of 2,534,738. BridgeBio Pharma, Inc. has a 52-week low of $21.72 and a 52-week high of $46.80. The company has a market capitalization of $8.82 billion, a price-to-earnings ratio of -13.16 and a beta of 1.15. The firm has a 50-day moving average of $38.53 and a 200-day moving average of $35.13.

BridgeBio Pharma (NASDAQ:BBIO - Get Free Report) last posted its earnings results on Tuesday, April 29th. The company reported ($0.88) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.00) by $0.12. The firm had revenue of $36.74 million during the quarter, compared to analysts' expectations of $57.14 million. During the same quarter in the prior year, the company earned ($0.20) earnings per share. The business's revenue for the quarter was down 44.8% compared to the same quarter last year. As a group, research analysts anticipate that BridgeBio Pharma, Inc. will post -3.67 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of equities analysts have issued reports on BBIO shares. HC Wainwright raised their price objective on shares of BridgeBio Pharma from $53.00 to $56.00 and gave the company a "buy" rating in a research note on Monday, June 9th. Redburn Atlantic assumed coverage on shares of BridgeBio Pharma in a research report on Monday, March 31st. They issued a "buy" rating and a $50.00 price objective on the stock. Scotiabank boosted their price objective on shares of BridgeBio Pharma from $52.00 to $55.00 and gave the company a "sector outperform" rating in a research report on Wednesday, April 30th. Oppenheimer raised shares of BridgeBio Pharma from a "market perform" rating to an "outperform" rating and set a $60.00 price objective on the stock in a research report on Wednesday. Finally, Wall Street Zen raised shares of BridgeBio Pharma from a "sell" rating to a "hold" rating in a research report on Saturday, June 7th. One research analyst has rated the stock with a hold rating and fourteen have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Moderate Buy" and an average price target of $60.21.

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.