Sanford C. Bernstein started coverage on shares of bluebird bio, Inc. (NASDAQ:BLUE) in a report released on Thursday, MarketBeat reports. The firm issued a market perform rating and a $109.00 price target on the biotechnology company’s stock.

Several other research analysts have also commented on the stock. BTIG Research reaffirmed a buy rating on shares of bluebird bio in a report on Monday, May 1st. Cantor Fitzgerald set a $37.00 price target on shares of bluebird bio and gave the company a sell rating in a report on Monday, June 5th. Zacks Investment Research raised shares of bluebird bio from a sell rating to a hold rating in a report on Monday, May 8th. Maxim Group raised shares of bluebird bio from a hold rating to a buy rating and set a $100.00 price target for the company in a report on Friday, June 2nd. Finally, Bank of America Corporation reaffirmed a hold rating and issued a $95.00 price target on shares of bluebird bio in a report on Monday, June 5th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and twelve have given a buy rating to the company. bluebird bio has an average rating of Hold and a consensus price target of $100.54.

Shares of bluebird bio (NASDAQ:BLUE) traded down 2.301% during midday trading on Thursday, hitting $94.475. 274,327 shares of the stock traded hands. bluebird bio has a one year low of $37.05 and a one year high of $123.75. The firm has a 50-day moving average price of $103.95 and a 200 day moving average price of $88.30. The stock’s market cap is $3.87 billion.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) EPS for the quarter, beating the Thomson Reuters’ consensus estimate of ($1.76) by $0.08. bluebird bio had a negative net margin of 2,402.03% and a negative return on equity of 35.17%. The business had revenue of $6.83 million during the quarter, compared to analyst estimates of $1.51 million. Analysts anticipate that bluebird bio will post ($6.70) earnings per share for the current year.

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In related news, Director Daniel Lynch sold 2,000 shares of the business’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $80.00, for a total transaction of $160,000.00. Following the transaction, the director now directly owns 3,400 shares of the company’s stock, valued at $272,000. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Eric Sullivan sold 6,787 shares of the business’s stock in a transaction that occurred on Thursday, June 29th. The shares were sold at an average price of $108.96, for a total transaction of $739,511.52. Following the transaction, the insider now directly owns 8,466 shares in the company, valued at $922,455.36. The disclosure for this sale can be found here. Insiders have sold 73,245 shares of company stock worth $7,660,998 over the last ninety days. 3.90% of the stock is currently owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. BlackRock Inc. increased its position in shares of bluebird bio by 44,948.0% in the first quarter. BlackRock Inc. now owns 3,182,188 shares of the biotechnology company’s stock worth $289,259,000 after buying an additional 3,175,124 shares during the last quarter. Norges Bank bought a new position in shares of bluebird bio during the fourth quarter worth approximately $22,940,000. MARSHALL WACE ASIA Ltd bought a new position in shares of bluebird bio during the first quarter worth approximately $18,006,000. Marshall Wace North America L.P. bought a new position in shares of bluebird bio during the first quarter worth approximately $18,006,000. Finally, Vanguard Group Inc. increased its position in shares of bluebird bio by 4.6% in the first quarter. Vanguard Group Inc. now owns 3,215,246 shares of the biotechnology company’s stock worth $292,266,000 after buying an additional 141,293 shares during the last quarter.

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).

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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