Traders Buy bluebird bio (BLUE) on Weakness After Insider Selling
Traders bought shares of bluebird bio, Inc. (NASDAQ:BLUE) on weakness during trading hours on Thursday following insider selling activity. $103.74 million flowed into the stock on the tick-up and $49.51 million flowed out of the stock on the tick-down, for a money net flow of $54.23 million into the stock. Of all equities tracked, bluebird bio had the 12th highest net in-flow for the day. bluebird bio traded down ($0.55) for the day and closed at $184.35Specifically, insider Jeffrey T. Walsh sold 9,900 shares of the company’s stock in a transaction on Monday, December 11th. The stock was sold at an average price of $216.54, for a total value of $2,143,746.00. Following the sale, the insider now directly owns 37,205 shares in the company, valued at $8,056,370.70. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Mark Vachon sold 7,000 shares of the company’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 sale, the director now owns 8,000 shares in the company, valued at $1,733,120. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 97,582 shares of company stock worth $15,597,932. 3.90% of the stock is owned by company insiders.
Several analysts have recently issued reports on the company. SunTrust Banks upped their price objective on bluebird bio to $223.00 and gave the company a “buy” rating in a research report on Tuesday. Wells Fargo & Company restated an “outperform” rating and issued a $242.00 price objective (up from $190.00) on shares of bluebird bio in a research report on Tuesday. Maxim Group downgraded bluebird bio from a “buy” rating to a “hold” rating and set a $200.00 price objective on the stock. in a research report on Wednesday. They noted that the move was a valuation call. BMO Capital Markets set a $215.00 price objective on bluebird bio and gave the company a “buy” rating in a research report on Monday. Finally, Leerink Swann restated an “outperform” rating and issued a $120.00 price objective on shares of bluebird bio in a research report on Saturday, September 30th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus target price of $157.45.
bluebird bio (NASDAQ:BLUE) last released its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by ($0.05). The business had revenue of $7.71 million during the quarter, compared to analyst estimates of $8.47 million. bluebird bio had a negative net margin of 1,021.98% and a negative return on equity of 27.00%. The business’s revenue for the quarter was up 397.4% compared to the same quarter last year. During the same quarter in the previous year, the company posted ($2.07) earnings per share. equities analysts anticipate that bluebird bio, Inc. will post -6.68 earnings per share for the current year.
A number of institutional investors have recently added to or reduced their stakes in the stock. Hanseatic Management Services Inc. increased its stake in bluebird bio by 0.3% in the second quarter. Hanseatic Management Services Inc. now owns 10,436 shares of the biotechnology company’s stock valued at $1,096,000 after purchasing an additional 27 shares during the last quarter. Teacher Retirement System of Texas increased its stake in bluebird bio by 1.7% during the second quarter. Teacher Retirement System of Texas now owns 3,250 shares of the biotechnology company’s stock worth $341,000 after acquiring an additional 53 shares during the last quarter. Cornerstone Capital Management Holdings LLC. increased its stake in bluebird bio by 0.8% during the second quarter. Cornerstone Capital Management Holdings LLC. now owns 17,955 shares of the biotechnology company’s stock worth $1,885,000 after acquiring an additional 140 shares during the last quarter. Prudential Financial Inc. increased its stake in bluebird bio by 4.0% during the second quarter. Prudential Financial Inc. now owns 3,882 shares of the biotechnology company’s stock worth $408,000 after acquiring an additional 150 shares during the last quarter. Finally, The Manufacturers Life Insurance Company increased its stake in bluebird bio by 0.5% during the second quarter. The Manufacturers Life Insurance Company now owns 31,433 shares of the biotechnology company’s stock worth $3,302,000 after acquiring an additional 151 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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