Bluebird Bio Inc. (BLUE) Lowered to Sell at Zacks Investment Research
According to Zacks, “Bluebird Bio, Inc. is a biotechnology company. It focuses on the development, manufacture and marketing of therapies for severe genetic disorders such as childhood cerebral adrenoleukodystrophy, neurodegenerative disorders and beta-thalassemia. The company operates in the U.S. and Europe. Bluebird Bio, Inc. is headquartered in Cambridge, Massachusetts. “
BLUE has been the subject of a number of other research reports. Jefferies Group reissued a buy rating and set a $80.00 target price on shares of Bluebird Bio in a research note on Friday, September 23rd. Maxim Group set a $85.00 price objective on shares of Bluebird Bio and gave the company a buy rating in a research note on Thursday, September 22nd. Cowen and Company reaffirmed an outperform rating on shares of Bluebird Bio in a research note on Friday, September 9th. Vetr cut shares of Bluebird Bio from a buy rating to a hold rating and set a $44.44 price objective for the company. in a research note on Monday, July 4th. Finally, Wedbush reaffirmed an outperform rating and set a $117.00 price objective on shares of Bluebird Bio in a research note on Monday. One analyst has rated the stock with a sell rating, four have assigned a hold rating, twelve have issued a buy rating and one has issued a strong buy rating to the company’s stock. Bluebird Bio currently has a consensus rating of Buy and an average price target of $90.25.
Shares of Bluebird Bio (NASDAQ:BLUE) traded down 5.77% during mid-day trading on Wednesday, reaching $68.90. 562,643 shares of the company’s stock traded hands. Bluebird Bio has a 12-month low of $35.37 and a 12-month high of $99.70. The stock’s market capitalization is $2.56 billion. The company’s 50-day moving average price is $61.00 and its 200-day moving average price is $49.79.
Bluebird Bio (NASDAQ:BLUE) last released 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. The company had revenue of $1.55 million for the quarter, compared to analysts’ expectations of $2.01 million. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. The firm’s revenue for the quarter was down 68.6% on a year-over-year basis. During the same period in the prior year, the firm earned ($1.57) EPS. Analysts anticipate that Bluebird Bio will post ($6.18) earnings per share for the current year.
In other news, insider David Davidson sold 1,000 shares of the company’s stock in a transaction dated Friday, July 15th. The shares were sold at an average price of $45.08, for a total transaction of $45,080.00. Following the completion of the transaction, the insider now owns 10,600 shares in the company, valued at $477,848. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Eric Sullivan sold 416 shares of the company’s stock in a transaction dated Monday, October 3rd. The stock was sold at an average price of $67.00, for a total transaction of $27,872.00. Following the transaction, the insider now owns 5,891 shares of the company’s stock, valued at approximately $394,697. The disclosure for this sale can be found here. Insiders own 3.50% of the company’s stock.
Several institutional investors have recently added to or reduced their stakes in BLUE. Seven Eight Capital LLC bought a new position in shares of Bluebird Bio during the first quarter worth about $108,000. Quantbot Technologies LP raised its position in shares of Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock worth $123,000 after buying an additional 2,312 shares in the last quarter. 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 in the last quarter. BNP Paribas Arbitrage SA raised its position in shares of Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock worth $209,000 after buying an additional 1,619 shares in the last quarter. Finally, Amalgamated Bank bought a new position in shares of Bluebird Bio during the second quarter worth about $222,000.
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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