Baillie Gifford & Co. Grows Stake in bluebird bio, Inc. (BLUE)
Baillie Gifford & Co. increased its position in shares of bluebird bio, Inc. (NASDAQ:BLUE) by 3.8% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 5,400,658 shares of the biotechnology company’s stock after purchasing an additional 196,025 shares during the period. Baillie Gifford & Co. owned about 11.86% of bluebird bio worth $567,339,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently added to or reduced their stakes in BLUE. Strs Ohio increased its position in shares of bluebird bio by 40.5% during the first quarter. Strs Ohio now owns 5,900 shares of the biotechnology company’s stock valued at $536,000 after purchasing an additional 1,700 shares during the period. Russell Investments Group Ltd. increased its position in shares of bluebird bio by 42.1% during the first quarter. Russell Investments Group Ltd. now owns 33,823 shares of the biotechnology company’s stock valued at $3,074,000 after purchasing an additional 10,027 shares during the period. Great West Life Assurance Co. Can increased its position in shares of bluebird bio by 28.5% during the first quarter. Great West Life Assurance Co. Can now owns 4,509 shares of the biotechnology company’s stock valued at $409,000 after purchasing an additional 1,000 shares during the period. Commerzbank Aktiengesellschaft FI bought a new stake in shares of bluebird bio during the first quarter valued at approximately $588,000. Finally, Advisors Asset Management Inc. bought a new stake in shares of bluebird bio during the first quarter valued at approximately $858,000.
In related news, Director Daniel Lynch sold 500 shares of the firm’s stock in a transaction on Thursday, August 31st. The stock was sold at an average price of $120.00, for a total transaction of $60,000.00. Following the sale, the director now owns 3,300 shares of the company’s stock, valued at approximately $396,000. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Nick Leschly sold 46,833 shares of the firm’s stock in a transaction on Friday, September 1st. The shares were sold at an average price of $122.27, for a total value of $5,726,270.91. Following the sale, the insider now directly owns 289,368 shares in the company, valued at approximately $35,381,025.36. The disclosure for this sale can be found here. In the last three months, insiders have sold 142,348 shares of company stock worth $16,331,428. 3.90% of the stock is currently owned by company insiders.
BLUE has been the topic of several recent analyst reports. BMO Capital Markets reaffirmed a “buy” rating and issued a $108.00 price target on shares of bluebird bio in a research note on Tuesday, June 6th. Maxim Group raised bluebird bio from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a research note on Friday, June 2nd. BTIG Research reaffirmed a “buy” rating and issued a $112.00 price target on shares of bluebird bio in a research note on Thursday, June 1st. Standpoint Research initiated coverage on bluebird bio in a research note on Tuesday, May 30th. They issued a “buy” rating and a $110.00 price target on the stock. Finally, Janney Montgomery Scott boosted their price target on bluebird bio from $81.00 to $125.00 and gave the company a “buy” rating in a research note on Wednesday, June 7th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and thirteen have assigned a buy rating to the company. bluebird bio currently has an average rating of “Hold” and an average target price of $107.86.
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bluebird bio, Inc. (NASDAQ:BLUE) traded down 3.41% during trading on Friday, reaching $124.80. The company’s stock had a trading volume of 656,132 shares. The stock’s market cap is $5.69 billion. The company’s 50 day moving average price is $101.89 and its 200-day moving average price is $94.59. bluebird bio, Inc. has a 1-year low of $37.05 and a 1-year high of $133.10.
bluebird bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.66) by $0.07. bluebird bio had a negative net margin of 1,080.59% and a negative return on equity of 32.19%. The business had revenue of $16.70 million during the quarter, compared to analyst estimates of $6.29 million. During the same period in the prior year, the business posted ($1.59) EPS. The company’s revenue for the quarter was up 977.4% compared to the same quarter last year. Equities analysts forecast that bluebird bio, Inc. will post ($6.84) earnings per share for the current fiscal year.
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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