bluebird bio, Inc. (NASDAQ:BLUE)‘s stock had its “outperform” rating reaffirmed by research analysts at Wedbush in a report issued on Friday. They currently have a $100.00 price objective on the biotechnology company’s stock, down from their prior price objective of $121.00. Wedbush’s price objective would indicate a potential downside of 15.61% from the stock’s previous close.
A number of other research analysts have also issued reports on BLUE. BidaskClub upgraded shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research note on Friday. Cowen and Company reiterated an “outperform” rating on shares of bluebird bio in a research note on Friday, June 9th. Standpoint Research reiterated a “reduce” rating and set a $110.00 price target on shares of bluebird bio in a research note on Friday, June 16th. BMO Capital Markets reiterated a “market perform” rating and set a $83.00 price target on shares of bluebird bio in a research note on Thursday, February 23rd. Finally, Morgan Stanley reiterated an “equal weight” rating and set a $105.00 price target (up from $91.00) on shares of bluebird bio in a research note on Wednesday, June 14th. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company. The stock currently has a consensus rating of “Buy” and an average price target of $94.91.
Shares of bluebird bio (NASDAQ:BLUE) traded down 5.49% during midday trading on Friday, reaching $112.00. The company’s stock had a trading volume of 3,067,525 shares. The stock’s market capitalization is $4.59 billion. The company has a 50 day moving average of $92.89 and a 200-day moving average of $81.98. bluebird bio has a 52 week low of $36.62 and a 52 week high of $120.95.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.76) by $0.08. bluebird bio had a negative net margin of 2,402.03% and a negative return on equity of 35.17%. The business had revenue of $6.83 million for the quarter, compared to analyst estimates of $1.51 million. Equities research analysts predict that bluebird bio will post ($6.74) earnings per share for the current year.
In other news, insider Philip D. Gregory sold 1,500 shares of the stock in a transaction that occurred on Tuesday, June 6th. The shares were sold at an average price of $99.04, for a total value of $148,560.00. Following the sale, the insider now directly owns 37,279 shares in the company, valued at $3,692,112.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 3,000 shares of the stock in a transaction that occurred on Monday, March 27th. The shares were sold at an average price of $88.12, for a total transaction of $264,360.00. Following the completion of the sale, the director now owns 3,400 shares in the company, valued at $299,608. The disclosure for this sale can be found here. Insiders sold 36,758 shares of company stock worth $3,563,311 over the last quarter. Company insiders own 3.90% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in BLUE. Russell Investments Group Ltd. acquired a new stake in bluebird bio during the fourth quarter valued at approximately $1,477,000. FMR LLC raised its stake in bluebird bio by 0.6% in the first quarter. FMR LLC now owns 6,126,713 shares of the biotechnology company’s stock valued at $556,918,000 after buying an additional 37,742 shares in the last quarter. Advisors Asset Management Inc. acquired a new stake in bluebird bio during the first quarter valued at approximately $858,000. Macquarie Group Ltd. acquired a new stake in bluebird bio during the fourth quarter valued at approximately $703,000. Finally, Metropolitan Life Insurance Co. NY raised its stake in bluebird bio by 7.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,505 shares of the biotechnology company’s stock valued at $1,759,000 after buying an additional 2,017 shares in the last quarter.
About bluebird bio
bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).
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