bluebird bio, Inc. (NASDAQ:BLUE – Get Rating)'s share price was up 12.6% during mid-day trading on Thursday . The company traded as high as $6.76 and last traded at $6.68. Approximately 174,236 shares traded hands during mid-day trading, a decline of 97% from the average daily volume of 5,735,633 shares. The stock had previously closed at $5.93.
Analyst Ratings Changes
A number of equities research analysts have recently issued reports on BLUE shares. Morgan Stanley reduced their price target on shares of bluebird bio to $3.00 and set an "underweight" rating on the stock in a research note on Tuesday, May 17th. Barclays raised shares of bluebird bio from an "underweight" rating to an "equal weight" rating and boosted their price target for the company from $3.00 to $5.00 in a research note on Friday, August 5th. Raymond James upgraded shares of bluebird bio from a "market perform" rating to an "outperform" rating and set a $8.00 price objective for the company in a report on Tuesday, August 2nd. Finally, Wedbush dropped their price objective on shares of bluebird bio from $10.00 to $8.00 and set a "neutral" rating for the company in a report on Tuesday, May 10th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $10.50.
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The company has a market cap of $495.88 million, a price-to-earnings ratio of -0.79 and a beta of 1.29. The firm's fifty day simple moving average is $4.39 and its 200 day simple moving average is $4.77.
bluebird bio (NASDAQ:BLUE – Get Rating) last posted its quarterly earnings results on Monday, May 9th. The biotechnology company reported ($1.66) EPS for the quarter, missing the consensus estimate of ($1.26) by ($0.40). bluebird bio had a negative return on equity of 130.19% and a negative net margin of 2,141.34%. The firm had revenue of $1.95 million for the quarter, compared to analyst estimates of $0.17 million. During the same quarter last year, the firm earned ($3.07) EPS. The company's revenue was up 117.6% on a year-over-year basis. As a group, sell-side analysts expect that bluebird bio, Inc. will post -4.81 EPS for the current year.Insider Activity
In other news, CEO Andrew Obenshain sold 21,805 shares of the company's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $4.39, for a total value of $95,723.95. Following the completion of the transaction, the chief executive officer now owns 247,131 shares in the company, valued at approximately $1,084,905.09. The sale was disclosed in a document filed with the SEC, which is available at this link. In other news, CEO Andrew Obenshain sold 21,805 shares of the company's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $4.39, for a total value of $95,723.95. Following the completion of the transaction, the chief executive officer now owns 247,131 shares in the company, valued at approximately $1,084,905.09. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jason Cole sold 7,448 shares of the company's stock in a transaction on Thursday, August 4th. The shares were sold at an average price of $4.39, for a total transaction of $32,696.72. Following the completion of the transaction, the insider now owns 203,740 shares of the company's stock, valued at approximately $894,418.60. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,364 shares of company stock worth $146,664. Corporate insiders own 2.90% of the company's stock.
Institutional Trading of bluebird bio
Several institutional investors and hedge funds have recently bought and sold shares of BLUE. Duality Advisers LP raised its position in bluebird bio by 19.3% in the 4th quarter. Duality Advisers LP now owns 62,344 shares of the biotechnology company's stock valued at $623,000 after purchasing an additional 10,070 shares during the last quarter. Advisor Group Holdings Inc. raised its position in bluebird bio by 24.4% in the 4th quarter. Advisor Group Holdings Inc. now owns 18,058 shares of the biotechnology company's stock valued at $180,000 after purchasing an additional 3,543 shares during the last quarter. Toronto Dominion Bank purchased a new stake in bluebird bio in the 4th quarter valued at $1,426,000. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in bluebird bio by 145.1% in the 4th quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 26,363 shares of the biotechnology company's stock valued at $279,000 after purchasing an additional 15,609 shares during the last quarter. Finally, Northern Trust Corp raised its position in bluebird bio by 0.3% in the 4th quarter. Northern Trust Corp now owns 719,985 shares of the biotechnology company's stock valued at $7,193,000 after purchasing an additional 2,348 shares during the last quarter. Hedge funds and other institutional investors own 96.38% of the company's stock.
About bluebird bio
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bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes transformative gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include betibeglogene autotemcel for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and elivaldogene autotemcel to treat cerebral adrenoleukodystrophy.
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