bluebird bio Inc (NASDAQ:BLUE) Short Interest Down 7.9% in November

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bluebird bio Inc (NASDAQ:BLUE) saw a large drop in short interest during the month of November. As of November 29th, there was short interest totalling 8,130,000 shares, a drop of 7.9% from the November 14th total of 8,830,000 shares. Based on an average daily trading volume, of 1,040,000 shares, the days-to-cover ratio is presently 7.8 days. Approximately 14.8% of the shares of the company are short sold.

A number of equities analysts have issued reports on the stock. ValuEngine raised shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research report on Friday, November 1st. Oppenheimer raised shares of bluebird bio from a “market perform” rating to an “outperform” rating and set a $135.00 price target for the company in a research report on Thursday. Wells Fargo & Co reduced their price target on shares of bluebird bio from $242.00 to $160.00 and set an “overweight” rating for the company in a research report on Monday, December 9th. BidaskClub raised shares of bluebird bio from a “strong sell” rating to a “sell” rating in a research report on Thursday, November 28th. Finally, Leerink Swann raised shares of bluebird bio from a “market perform” rating to an “outperform” rating and set a $119.00 price target for the company in a research report on Tuesday, November 26th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating, twelve have given a buy rating and two have assigned a strong buy rating to the company’s stock. bluebird bio presently has an average rating of “Buy” and an average target price of $138.23.

Several hedge funds and other institutional investors have recently modified their holdings of BLUE. Capital Investment Advisory Services LLC grew its stake in shares of bluebird bio by 100.0% during the 2nd quarter. Capital Investment Advisory Services LLC now owns 200 shares of the biotechnology company’s stock worth $28,000 after purchasing an additional 100 shares during the period. CSat Investment Advisory L.P. acquired a new stake in bluebird bio in the 2nd quarter valued at $31,000. Rational Advisors LLC grew its stake in bluebird bio by 532.3% in the 3rd quarter. Rational Advisors LLC now owns 392 shares of the biotechnology company’s stock valued at $36,000 after acquiring an additional 330 shares during the period. Loring Wolcott & Coolidge Fiduciary Advisors LLP MA acquired a new stake in bluebird bio in the 2nd quarter valued at $47,000. Finally, NuWave Investment Management LLC grew its stake in bluebird bio by 398.7% in the 3rd quarter. NuWave Investment Management LLC now owns 788 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 630 shares during the period.

Shares of NASDAQ BLUE traded up $5.70 during midday trading on Friday, reaching $89.75. 2,311,853 shares of the stock were exchanged, compared to its average volume of 1,595,503. The firm has a market cap of $4.81 billion, a price-to-earnings ratio of -8.40 and a beta of 2.16. bluebird bio has a twelve month low of $71.42 and a twelve month high of $163.43. The firm has a 50-day simple moving average of $79.49 and a two-hundred day simple moving average of $105.62. The company has a quick ratio of 6.22, a current ratio of 6.22 and a debt-to-equity ratio of 0.12.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Thursday, October 31st. The biotechnology company reported ($3.73) EPS for the quarter, missing analysts’ consensus estimates of ($3.54) by ($0.19). The firm had revenue of $8.91 million for the quarter, compared to analyst estimates of $12.47 million. bluebird bio had a negative return on equity of 42.29% and a negative net margin of 1,326.56%. bluebird bio’s revenue for the quarter was down 22.7% compared to the same quarter last year. During the same period in the previous year, the business earned ($2.73) EPS. Research analysts expect that bluebird bio will post -14.06 EPS for the current fiscal year.

About bluebird bio

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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