bluebird bio (BLUE) Shares Gap Down on Insider Selling
bluebird bio, Inc. (NASDAQ:BLUE) shares gapped down prior to trading on Thursday following insider selling activity. The stock had previously closed at $184.70, but opened at $184.90. bluebird bio shares last traded at $182.85, with a volume of 700946 shares trading hands.
Specifically, Director Mark Vachon sold 7,000 shares of the firm’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $216.64, for a total value of $1,516,480.00. Following the completion of the transaction, the director now owns 8,000 shares of the company’s stock, valued at $1,733,120. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey T. Walsh sold 4,900 shares of the firm’s stock in a transaction on Tuesday, October 10th. The shares were sold at an average price of $129.94, for a total transaction of $636,706.00. The disclosure for this sale can be found here. In the last ninety days, insiders sold 215,082 shares of company stock valued at $37,227,332. 3.90% of the stock is owned by insiders.
BLUE has been the subject of a number of analyst reports. Wedbush reissued an “outperform” rating and issued a $174.00 price objective (up previously from $135.00) on shares of bluebird bio in a research report on Thursday, November 2nd. Cantor Fitzgerald reissued a “sell” rating and issued a $39.00 price objective on shares of bluebird bio in a research report on Thursday, September 28th. Evercore ISI raised shares of bluebird bio from an “in-line” rating to an “outperform” rating and set a $102.00 price objective for the company in a research report on Monday, October 16th. BMO Capital Markets lifted their price objective on shares of bluebird bio from $134.00 to $162.00 and gave the company a “buy” rating in a research report on Monday, October 30th. Finally, Goldman Sachs Group reissued a “buy” rating and issued a $186.00 price objective on shares of bluebird bio in a research report on Friday, October 6th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and thirteen have given a buy rating to the company. bluebird bio currently has an average rating of “Hold” and an average target price of $157.45.
bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.68) by ($0.05). The company had revenue of $7.71 million for the quarter, compared to analyst estimates of $8.47 million. bluebird bio had a negative return on equity of 28.79% and a negative net margin of 883.18%. The business’s quarterly revenue was up 397.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.07) EPS. analysts forecast that bluebird bio, Inc. will post -6.72 EPS for the current fiscal year.
Several hedge funds and other institutional investors have recently bought and sold shares of BLUE. FMR LLC lifted its stake in shares of bluebird bio by 9.6% during the 2nd quarter. FMR LLC now owns 6,713,949 shares of the biotechnology company’s stock worth $705,301,000 after buying an additional 587,236 shares during the last quarter. Capital Research Global Investors lifted its stake in shares of bluebird bio by 9.9% during the 2nd quarter. Capital Research Global Investors now owns 5,483,117 shares of the biotechnology company’s stock worth $576,001,000 after buying an additional 493,072 shares during the last quarter. Vanguard Group Inc. lifted its stake in shares of bluebird bio by 10.7% during the 2nd quarter. Vanguard Group Inc. now owns 3,559,102 shares of the biotechnology company’s stock worth $373,884,000 after buying an additional 343,856 shares during the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of bluebird bio during the 3rd quarter worth about $29,539,000. Finally, American Century Companies Inc. acquired a new stake in shares of bluebird bio during the 3rd quarter worth about $31,170,000.
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bluebird bio Company Profile
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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