bluebird bio, Inc. (NASDAQ:BLUE) Insider Sells $249,725.00 in Stock
bluebird bio, Inc. (NASDAQ:BLUE) insider Jeffrey T. Walsh sold 2,500 shares of the business’s stock in a transaction that occurred on Monday, July 10th. The stock was sold at an average price of $99.89, for a total value of $249,725.00. Following the transaction, the insider now directly owns 29,805 shares in the company, valued at approximately $2,977,221.45. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink.
Shares of bluebird bio, Inc. (NASDAQ:BLUE) opened at 95.80 on Monday. The company has a 50-day moving average price of $97.43 and a 200 day moving average price of $83.86. The company’s market capitalization is $3.92 billion. bluebird bio, Inc. has a 1-year low of $37.05 and a 1-year high of $123.75.
bluebird bio (NASDAQ:BLUE) last released its earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of ($1.76) by $0.08. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. The business had revenue of $6.83 million during the quarter, compared to the consensus estimate of $1.51 million. Equities research analysts anticipate that bluebird bio, Inc. will post ($6.70) EPS for the current year.
Hedge funds have recently added to or reduced their stakes in the company. Russell Investments Group Ltd. purchased a new stake in bluebird bio during the fourth quarter worth about $1,477,000. Dimensional Fund Advisors LP increased its stake in bluebird bio by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 68,220 shares of the biotechnology company’s stock worth $4,210,000 after buying an additional 540 shares in the last quarter. Metropolitan Life Insurance Co. NY increased its stake in bluebird bio by 7.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,505 shares of the biotechnology company’s stock worth $1,759,000 after buying an additional 2,017 shares in the last quarter. Norges Bank purchased a new stake in bluebird bio during the fourth quarter worth about $22,940,000. Finally, Macquarie Group Ltd. purchased a new stake in bluebird bio during the fourth quarter worth about $703,000.
Several research firms have weighed in on BLUE. Wedbush reaffirmed an “outperform” rating and set a $100.00 price target (down previously from $121.00) on shares of bluebird bio in a research report on Friday, June 23rd. BidaskClub raised bluebird bio from a “buy” rating to a “strong-buy” rating in a research report on Friday, June 23rd. Morgan Stanley reaffirmed an “equal weight” rating and set a $105.00 price target (up previously from $91.00) on shares of bluebird bio in a research report on Wednesday, June 14th. Cowen and Company reaffirmed a “buy” rating on shares of bluebird bio in a research report on Friday, June 23rd. Finally, Cantor Fitzgerald set a $39.00 target price on bluebird bio and gave the stock a “sell” rating in a report on Saturday, June 24th. Two equities research analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $100.02.
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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