bluebird bio, Inc. (BLUE) Trading Down 7.2% on Insider Selling
bluebird bio, Inc. (NASDAQ:BLUE)’s share price traded down 7.2% on Thursday following insider selling activity. The stock traded as low as $89.90 and last traded at $90.05, with a volume of 670,147 shares. The stock had previously closed at $97.00.
Specifically, insider Philip D. Gregory sold 750 shares of the business’s stock in a transaction on Monday, August 7th. The stock was sold at an average price of $99.00, for a total transaction of $74,250.00. Following the completion of the transaction, the insider now owns 31,234 shares in the company, valued at approximately $3,092,166. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, insider David Davidson sold 1,000 shares of the business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $90.00, for a total value of $90,000.00. Following the transaction, the insider now owns 18,177 shares of the company’s stock, valued at approximately $1,635,930. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 77,856 shares of company stock valued at $8,093,145. 3.90% of the stock is owned by company insiders.
A number of equities analysts recently issued reports on the company. BMO Capital Markets restated a “buy” rating and set a $108.00 price objective on shares of bluebird bio in a report on Friday, August 4th. BidaskClub upgraded bluebird bio from a “sell” rating to a “hold” rating in a report on Wednesday. Morgan Stanley restated a “hold” rating on shares of bluebird bio in a report on Wednesday. Cantor Fitzgerald set a $39.00 price objective on bluebird bio and gave the company a “sell” rating in a report on Saturday, June 24th. Finally, Sanford C. Bernstein assumed coverage on bluebird bio in a report on Thursday, July 27th. They set a “market perform” rating and a $109.00 price objective for the company. Two investment analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the stock. bluebird bio currently has an average rating of “Hold” and a consensus target price of $100.66.
The firm has a 50 day moving average of $100.08 and a 200 day moving average of $89.91. The stock’s market capitalization is $4.11 billion.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data 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 firm had revenue of $16.70 million during the quarter, compared to analyst estimates of $6.29 million. During the same period in the previous year, the firm posted ($1.59) earnings per share. The company’s quarterly revenue was up 977.4% compared to the same quarter last year. On average, equities analysts predict that bluebird bio, Inc. will post ($6.78) earnings per share for the current fiscal year.
Large investors have recently modified their holdings of the stock. Bank of Montreal Can boosted its stake in shares of bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after buying an additional 911 shares during the last quarter. Turner Investments LLC purchased a new stake in shares of bluebird bio during the second quarter worth $184,000. SG Americas Securities LLC boosted its stake in shares of bluebird bio by 17.9% in the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock worth $204,000 after buying an additional 295 shares during the last quarter. Affinity Investment Advisors LLC purchased a new stake in shares of bluebird bio during the second quarter worth $246,000. Finally, First Mercantile Trust Co. boosted its stake in shares of bluebird bio by 14.4% in the first quarter. First Mercantile Trust Co. now owns 2,897 shares of the biotechnology company’s stock worth $263,000 after buying an additional 365 shares during the last quarter.
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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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