Rhumbline Advisers Decreases Holdings in bluebird bio Inc (BLUE)
Rhumbline Advisers trimmed its position in shares of bluebird bio Inc (NASDAQ:BLUE) by 12.6% during the fourth quarter, HoldingsChannel reports. The firm owned 53,473 shares of the biotechnology company’s stock after selling 7,676 shares during the quarter. Rhumbline Advisers’ holdings in bluebird bio were worth $9,524,000 at the end of the most recent quarter.
A number of other large investors have also recently added to or reduced their stakes in the business. Orbimed Advisors LLC raised its stake in shares of bluebird bio by 20.5% in the third quarter. Orbimed Advisors LLC now owns 481,946 shares of the biotechnology company’s stock valued at $66,195,000 after acquiring an additional 82,146 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of bluebird bio by 11.0% in the fourth quarter. Schwab Charles Investment Management Inc. now owns 296,073 shares of the biotechnology company’s stock valued at $52,731,000 after acquiring an additional 29,380 shares in the last quarter. Bank of New York Mellon Corp raised its stake in shares of bluebird bio by 7.6% in the third quarter. Bank of New York Mellon Corp now owns 245,563 shares of the biotechnology company’s stock valued at $33,729,000 after acquiring an additional 17,449 shares in the last quarter. Eagle Asset Management Inc. acquired a new stake in shares of bluebird bio in the third quarter valued at $29,539,000. Finally, American Century Companies Inc. raised its stake in shares of bluebird bio by 3.2% in the fourth quarter. American Century Companies Inc. now owns 234,220 shares of the biotechnology company’s stock valued at $41,715,000 after acquiring an additional 7,285 shares in the last quarter.
Several analysts have recently issued reports on BLUE shares. Maxim Group increased their price objective on bluebird bio from $170.00 to $200.00 and gave the company a “buy” rating in a research note on Thursday, November 30th. Cantor Fitzgerald set a $113.00 price objective on bluebird bio and gave the company an “underweight” rating in a research note on Monday, December 11th. Barclays reiterated an “overweight” rating and issued a $209.00 price objective (up from $162.00) on shares of bluebird bio in a research note on Wednesday, December 13th. Morgan Stanley upgraded bluebird bio from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 3rd. Finally, Jefferies Group upgraded bluebird bio from a “hold” rating to a “buy” rating and increased their price objective for the company from $130.00 to $211.00 in a research note on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, eight have issued a hold rating, twelve have given a buy rating and one has issued a strong buy rating to the company. The company has an average rating of “Hold” and a consensus target price of $180.89.
bluebird bio Inc (NASDAQ:BLUE) opened at $206.10 on Friday. bluebird bio Inc has a twelve month low of $74.45 and a twelve month high of $222.03.
bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, February 21st. The biotechnology company reported ($2.52) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.84). The business had revenue of $4.17 million during the quarter, compared to analysts’ expectations of $7.11 million. bluebird bio had a negative net margin of 947.42% and a negative return on equity of 28.09%. The business’s quarterly revenue was up 169.0% compared to the same quarter last year. During the same period last year, the company earned ($1.88) EPS. sell-side analysts expect that bluebird bio Inc will post -8.25 EPS for the current fiscal year.
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bluebird bio 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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