Shares of Bluebird Bio Inc. (NASDAQ:BLUE) traded down 4% during mid-day trading on Thursday after an insider sold shares in the company. The company traded as low as $68.69 and last traded at $70.16, with a volume of 816,555 shares. The stock had previously closed at $73.12.
Specifically, insider Eric Sullivan sold 2,912 shares of the stock in a transaction dated Wednesday, July 27th. The stock was sold at an average price of $55.01, for a total transaction of $160,189.12. Following the sale, the insider now directly owns 4,456 shares of the company’s stock, valued at approximately $245,124.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider David Davidson sold 1,000 shares of the stock in a transaction dated Friday, July 15th. The stock was sold at an average price of $45.08, for a total value of $45,080.00. Following the sale, the insider now directly owns 10,600 shares in the company, valued at $477,848. The disclosure for this sale can be found here. Company insiders own 3.50% of the company’s stock.
Several equities research analysts have weighed in on the company. Zacks Investment Research downgraded Bluebird Bio from a “hold” rating to a “sell” rating in a research report on Wednesday. Wedbush reaffirmed an “outperform” rating and set a $117.00 price target on shares of Bluebird Bio in a research report on Monday. Jefferies Group restated a “buy” rating and set a $80.00 target price on shares of Bluebird Bio in a research report on Friday, September 30th. Maxim Group set a $100.00 target price on Bluebird Bio and gave the company a “buy” rating in a research report on Thursday, September 29th. Finally, Roth Capital started coverage on Bluebird Bio in a research report on Thursday, September 22nd. They set a “buy” rating and a $87.00 target price on the stock. One research analyst has rated the stock with a sell rating, four have given a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The stock currently has an average rating of “Buy” and an average price target of $90.25.
The firm’s market cap is $2.60 billion. The firm has a 50-day moving average price of $61.00 and a 200-day moving average price of $49.79.
Bluebird Bio (NASDAQ:BLUE) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing analysts’ consensus estimates of ($1.44) by $0.15. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The business earned $1.55 million during the quarter, compared to analysts’ expectations of $2.01 million. During the same period in the previous year, the company posted ($1.57) earnings per share. Bluebird Bio’s quarterly revenue was down 68.6% on a year-over-year basis. On average, equities research analysts predict that Bluebird Bio Inc. will post ($6.18) earnings per share for the current fiscal year.
Several large investors have recently made changes to their positions in BLUE. OMERS ADMINISTRATION Corp boosted its stake in shares of Bluebird Bio by 1.7% in the first quarter. OMERS ADMINISTRATION Corp now owns 6,000 shares of the company’s stock worth $255,000 after buying an additional 100 shares during the last quarter. BlackRock Advisors LLC raised its position in shares of Bluebird Bio by 0.8% in the second quarter. BlackRock Advisors LLC now owns 17,403 shares of the company’s stock worth $753,000 after buying an additional 134 shares during the period. Canada Pension Plan Investment Board raised its position in shares of Bluebird Bio by 3.1% in the second quarter. Canada Pension Plan Investment Board now owns 19,800 shares of the company’s stock worth $857,000 after buying an additional 600 shares during the period. Legal & General Group Plc raised its position in shares of Bluebird Bio by 31.6% in the first quarter. Legal & General Group Plc now owns 2,895 shares of the company’s stock worth $123,000 after buying an additional 695 shares during the period. Finally, Teacher Retirement System of Texas raised its position in shares of Bluebird Bio by 25.3% in the second quarter. Teacher Retirement System of Texas now owns 5,114 shares of the company’s stock worth $221,000 after buying an additional 1,034 shares during the period.
About Bluebird Bio
bluebird bio, Inc is a biotechnology company. The Company is focused on developing transformative gene therapies for severe genetic and rare diseases and in the field of T cell-based immunotherapy. Its gene therapy clinical programs include LentiGlobin product candidate to treat transfusion-dependent B-thalassemia (TDT) and severe sickle cell disease (SCD), and Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD), a rare hereditary neurological disorder.
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