Insider Selling: bluebird bio, Inc. (NASDAQ:BLUE) Insider Sells 750 Shares of Stock
bluebird bio, Inc. (NASDAQ:BLUE) insider Philip D. Gregory sold 750 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $99.00, for a total value of $74,250.00. Following the completion of the transaction, the insider now owns 31,234 shares in the company, valued at $3,092,166. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink.
bluebird bio (NASDAQ:BLUE) last released its earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.66) by $0.07. bluebird bio had a negative net margin of 1,080.59% and a negative return on equity of 32.19%. The company had revenue of $16.70 million for the quarter, compared to the consensus estimate of $6.29 million. During the same period in the prior year, the company earned ($1.59) earnings per share. The firm’s revenue was up 977.4% on a year-over-year basis.
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A number of research analysts have commented on BLUE shares. Maxim Group upgraded bluebird bio from a “hold” rating to a “buy” rating and set a $100.00 price objective on the stock in a research report on Friday, June 2nd. BTIG Research reiterated a “buy” rating and issued a $112.00 price objective on shares of bluebird bio in a research report on Thursday, June 1st. Standpoint Research started coverage on bluebird bio in a research report on Tuesday, May 30th. They issued a “buy” rating and a $110.00 price objective on the stock. BMO Capital Markets reiterated a “buy” rating and issued a $108.00 price objective on shares of bluebird bio in a research report on Tuesday, June 6th. Finally, Janney Montgomery Scott increased their price objective on bluebird bio from $81.00 to $125.00 and gave the company a “buy” rating in a research report on Wednesday, June 7th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have issued a buy rating to the company’s stock. The stock has an average rating of “Hold” and a consensus price target of $100.66.
Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its position 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 valued at $4,210,000 after buying an additional 540 shares during the period. Macquarie Group Ltd. acquired a new position in bluebird bio during the fourth quarter valued at approximately $703,000. Candriam Luxembourg S.C.A. increased its position in bluebird bio by 17.5% in the first quarter. Candriam Luxembourg S.C.A. now owns 161,000 shares of the biotechnology company’s stock valued at $14,636,000 after buying an additional 24,000 shares during the period. First Mercantile Trust Co. increased its position in bluebird bio by 14.4% in the first quarter. First Mercantile Trust Co. now owns 2,897 shares of the biotechnology company’s stock valued at $263,000 after buying an additional 365 shares during the period. Finally, Strs Ohio increased its position in bluebird bio by 40.5% in the first quarter. Strs Ohio now owns 5,900 shares of the biotechnology company’s stock valued at $536,000 after buying an additional 1,700 shares during the period.
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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