Bluebird Bio Inc. (NASDAQ:BLUE) shares saw unusually-strong trading volume on Friday after Leerink Swann raised their price target on the stock from $67.00 to $80.00. Leerink Swann currently has an outperform rating on the stock. Approximately 2,696,807 shares were traded during trading, an increase of 69% from the previous session’s volume of 1,597,823 shares.The stock last traded at $57.38 and had previously closed at $65.24.
A number of other research firms have also issued reports on BLUE. Wedbush reissued an “outperform” rating and set a $117.00 price target on shares of Bluebird Bio in a report on Wednesday, August 3rd. Goldman Sachs Group Inc. reissued a “buy” rating and set a $135.00 price target on shares of Bluebird Bio in a report on Thursday, September 8th. Maxim Group set a $100.00 price target on Bluebird Bio and gave the stock a “buy” rating in a report on Thursday, September 29th. Piper Jaffray Cos. set a $95.00 price target on Bluebird Bio and gave the stock a “buy” rating in a report on Thursday, September 8th. Finally, Vetr raised Bluebird Bio from a “buy” rating to a “strong-buy” rating and set a $44.44 price target on the stock in a report on Monday, June 27th. Two analysts have rated the stock with a sell rating, three have issued a hold rating and fourteen have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and an average target price of $91.60.
In related news, insider Eric Sullivan sold 2,912 shares of Bluebird Bio stock in a transaction that occurred on Wednesday, July 27th. The stock was sold at an average price of $55.01, for a total transaction of $160,189.12. Following the completion of the transaction, the insider now directly owns 4,456 shares in the company, valued at approximately $245,124.56. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.50% of the company’s stock.
Several hedge funds and other institutional investors have recently modified their holdings of the company. Seven Eight Capital LLC bought a new position in shares of Bluebird Bio during the first quarter valued at about $108,000. Quantbot Technologies LP increased its position in shares of Bluebird Bio by 431.3% in the second quarter. Quantbot Technologies LP now owns 2,848 shares of the company’s stock valued at $123,000 after buying an additional 2,312 shares during the period. First Mercantile Trust Co. acquired a new position in shares of Bluebird Bio during the third quarter valued at $129,000. BlackRock Inc. increased its position in shares of Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock valued at $194,000 after buying an additional 3,533 shares during the period. Finally, BNP Paribas Arbitrage SA increased its position in shares of Bluebird Bio by 110.5% in the third quarter. BNP Paribas Arbitrage SA now owns 3,084 shares of the company’s stock valued at $209,000 after buying an additional 1,619 shares during the period.
The firm’s 50-day moving average is $63.71 and its 200 day moving average is $50.93. The firm’s market capitalization is $2.10 billion.
Bluebird Bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the consensus estimate of ($1.44) by $0.15. Bluebird Bio had a negative net margin of 3,512.13% and a negative return on equity of 24.85%. The firm earned $1.55 million during the quarter, compared to analyst estimates of $2.01 million. During the same quarter in the previous year, the business posted ($1.57) EPS. Bluebird Bio’s revenue for the quarter was down 68.6% compared to the same quarter last year. Analysts anticipate that Bluebird Bio Inc. will post ($6.19) earnings per share for the current fiscal year.
Bluebird Bio Company Profile
bluebird bio, Inc is a biotechnology company. The Company is focused on developing transformative gene therapies for severe genetic and rare diseases and in the field of T cell-based immunotherapy. Its gene therapy clinical programs include LentiGlobin product candidate to treat transfusion-dependent B-thalassemia (TDT) and severe sickle cell disease (SCD), and Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD), a rare hereditary neurological disorder.
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