Bluebird Bio Inc. (NASDAQ:BLUE) dropped 3.9% on Wednesday . The company traded as low as $48.53 and last traded at $48.90, with a volume of 514,746 shares trading hands. The stock had previously closed at $50.87.

A number of brokerages recently weighed in on BLUE. Wedbush restated an “outperform” rating and issued a $117.00 price objective on shares of Bluebird Bio in a report on Wednesday, August 3rd. Leerink Swann restated a “buy” rating on shares of Bluebird Bio in a report on Monday, June 13th. Goldman Sachs Group Inc. restated a “buy” rating and issued a $135.00 price objective on shares of Bluebird Bio in a report on Thursday, August 18th. Janney Montgomery Scott restated a “buy” rating and issued a $91.00 price objective on shares of Bluebird Bio in a report on Tuesday, May 10th. Finally, Vetr cut shares of Bluebird Bio from a “strong-buy” rating to a “sell” rating and set a $44.44 price objective for the company. in a report on Wednesday, June 8th. Six equities research analysts have rated the stock with a hold rating and thirteen have assigned a buy rating to the company. The company currently has an average rating of “Buy” and a consensus target price of $82.50.

The company’s market capitalization is $1.83 billion. The firm has a 50 day moving average of $52.78 and a 200 day moving average of $47.15.

Bluebird Bio (NASDAQ:BLUE) last announced its quarterly earnings data on Wednesday, August 3rd. The company reported ($1.59) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.44) by $0.15. During the same quarter in the prior year, the firm posted ($1.57) EPS. The firm had revenue of $1.55 million for the quarter, compared to analyst estimates of $2.01 million. Bluebird Bio’s revenue for the quarter was down 68.6% on a year-over-year basis. Analysts expect that Bluebird Bio Inc. will post ($6.14) earnings per share for the current fiscal year.

In other news, insider Eric Sullivan sold 2,807 shares of the stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $45.04, for a total transaction of $126,427.28. Following the transaction, the insider now directly owns 4,656 shares in the company, valued at approximately $209,706.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, insider David Davidson sold 1,000 shares of the stock in a transaction dated Wednesday, June 15th. The stock was sold at an average price of $40.11, for a total transaction of $40,110.00. Following the transaction, the insider now owns 10,600 shares in the company, valued at $425,166. The disclosure for this sale can be found here.

An institutional investor recently raised its position in Bluebird Bio stock. State of Tennessee Treasury Department boosted its stake in shares of Bluebird Bio Inc. (NASDAQ:BLUE) by 45.4% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 191,963 shares of the company’s stock after buying an additional 59,952 shares during the period. State of Tennessee Treasury Department owned 0.52% of Bluebird Bio worth $12,328,000 at the end of the most recent reporting 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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