bluebird bio (BLUE) Sets New 12-Month Low on Insider Selling
bluebird bio Inc (NASDAQ:BLUE)’s share price hit a new 52-week low on Thursday after an insider sold shares in the company. The company traded as low as $100.99 and last traded at $111.96, with a volume of 21417 shares trading hands. The stock had previously closed at $113.65.
Specifically, insider David Davidson sold 5,000 shares of the firm’s stock in a transaction on Tuesday, October 2nd. The shares were sold at an average price of $139.32, for a total value of $696,600.00. Following the completion of the sale, the insider now directly owns 29,905 shares in the company, valued at $4,166,364.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director James Mandell sold 1,000 shares of the firm’s stock in a transaction on Monday, September 10th. The stock was sold at an average price of $150.77, for a total transaction of $150,770.00. Following the completion of the sale, the director now owns 1,568 shares of the company’s stock, valued at $236,407.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 21,490 shares of company stock valued at $2,901,186. 3.00% of the stock is currently owned by corporate insiders.
A number of equities research analysts have commented on BLUE shares. BidaskClub cut shares of bluebird bio from a “sell” rating to a “strong sell” rating in a report on Tuesday, October 23rd. Oppenheimer restated a “hold” rating on shares of bluebird bio in a report on Tuesday, November 27th. Goldman Sachs Group cut shares of bluebird bio from a “conviction-buy” rating to a “buy” rating in a report on Friday, September 21st. Morgan Stanley reduced their price target on shares of bluebird bio from $190.00 to $186.00 and set an “equal weight” rating for the company in a report on Monday, October 15th. Finally, Guggenheim initiated coverage on shares of bluebird bio in a report on Monday, September 17th. They issued a “neutral” rating for the company. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seventeen have given a buy rating to the stock. The company presently has an average rating of “Buy” and a consensus price target of $194.80.
bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Thursday, November 1st. The biotechnology company reported ($2.73) EPS for the quarter, topping the consensus estimate of ($2.90) by $0.17. The business had revenue of $11.50 million for the quarter, compared to analyst estimates of $6.90 million. bluebird bio had a negative net margin of 1,326.02% and a negative return on equity of 31.50%. The company’s revenue for the quarter was up 49.2% on a year-over-year basis. During the same quarter in the previous year, the firm posted ($1.73) earnings per share. On average, analysts forecast that bluebird bio Inc will post -10.71 EPS for the current year.
A number of hedge funds have recently made changes to their positions in the business. FMR LLC raised its position in bluebird bio by 8.1% in the third quarter. FMR LLC now owns 8,123,687 shares of the biotechnology company’s stock worth $1,186,058,000 after acquiring an additional 605,797 shares during the period. Capital Research Global Investors raised its position in bluebird bio by 8.1% in the third quarter. Capital Research Global Investors now owns 6,634,317 shares of the biotechnology company’s stock worth $968,610,000 after acquiring an additional 494,787 shares during the period. Vanguard Group Inc. raised its position in bluebird bio by 10.1% in the third quarter. Vanguard Group Inc. now owns 4,619,413 shares of the biotechnology company’s stock worth $674,435,000 after acquiring an additional 422,866 shares during the period. Capital World Investors raised its position in bluebird bio by 37.4% in the third quarter. Capital World Investors now owns 3,425,687 shares of the biotechnology company’s stock worth $500,150,000 after acquiring an additional 931,932 shares during the period. Finally, Capital International Investors raised its position in bluebird bio by 188.6% in the third quarter. Capital International Investors now owns 3,260,636 shares of the biotechnology company’s stock worth $476,053,000 after acquiring an additional 2,130,927 shares during the period.
bluebird bio Company Profile (NASDAQ:BLUE)
bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.
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