Shares of Bluebird Bio Inc. (NASDAQ:BLUE) traded up 6.6% on Wednesday . The company traded as high as $54.00 and last traded at $53.80, with a volume of 686,874 shares. The stock had previously closed at $50.45.

A number of analysts recently weighed in on the stock. Jefferies Group reaffirmed a “positive” rating and issued a $80.00 price objective on shares of Bluebird Bio in a research note on Thursday, July 14th. Vetr downgraded shares of Bluebird Bio from a “buy” rating to a “hold” rating and set a $44.44 target price for the company. in a report on Monday, July 4th. BTIG Research reiterated a “buy” rating and issued a $72.00 target price on shares of Bluebird Bio in a report on Wednesday, June 29th. Leerink Swann reiterated a “buy” rating on shares of Bluebird Bio in a report on Monday, June 13th. Finally, Cantor Fitzgerald began coverage on shares of Bluebird Bio in a report on Thursday, June 2nd. They issued a “hold” rating and a $42.00 target price for the company. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company. The stock presently has a consensus rating of “Buy” and an average price target of $96.09.

The company has a 50 day moving average of $45.07 and a 200-day moving average of $45.46. The company’s market cap is $2.13 billion.

Bluebird Bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, May 4th. The company reported ($1.52) earnings per share for the quarter, missing the consensus estimate of ($1.23) by $0.29. During the same period last year, the firm posted ($0.76) EPS. The company earned $1.50 million during the quarter, compared to analysts’ expectations of $4.50 million. The firm’s revenue was down 76.2% compared to the same quarter last year. Equities research analysts forecast that Bluebird Bio Inc. will post ($5.90) earnings per share for the current year.

In related news, insider Eric Sullivan sold 2,807 shares of the business’s stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total transaction of $126,427.28. Following the completion of the sale, the insider now owns 4,656 shares in the company, valued at $209,706.24. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Philip D. Gregory sold 2,931 shares of the business’s stock in a transaction that occurred on Thursday, June 16th. The stock was sold at an average price of $39.52, for a total value of $115,833.12. Following the sale, the insider now owns 30,069 shares of the company’s stock, valued at approximately $1,188,326.88. The disclosure for this sale can be found here.

A number of hedge funds and institutional investors have recently added to or reduced their stakes in the company. Jennison Associates LLC raised its position in Bluebird Bio by 171.3% in the fourth quarter. Jennison Associates LLC now owns 864,314 shares of the company’s stock valued at $55,506,000 after buying an additional 545,727 shares during the period. Wells Fargo & Company MN raised its position in Bluebird Bio by 53.4% in the fourth quarter. Wells Fargo & Company MN now owns 474,832 shares of the company’s stock valued at $30,492,000 after buying an additional 165,303 shares during the period. Marshall Wace LLP raised its position in Bluebird Bio by 374.8% in the fourth quarter. Marshall Wace LLP now owns 168,427 shares of the company’s stock valued at $10,816,000 after buying an additional 132,956 shares during the period. State of Tennessee Treasury Department raised its position in Bluebird Bio by 45.4% in the fourth quarter. State of Tennessee Treasury Department now owns 191,963 shares of the company’s stock valued at $12,328,000 after buying an additional 59,952 shares during the period. Finally, California Public Employees Retirement System raised its position in Bluebird Bio by 157.2% in the fourth quarter. California Public Employees Retirement System now owns 94,400 shares of the company’s stock valued at $6,062,000 after buying an additional 57,700 shares during the period.

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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