bluebird bio, Inc. (NASDAQ:BLUE) shares were down 5.4% on Wednesday following insider selling activity. The company traded as low as $190.60 and last traded at $190.95. Approximately 2,320,500 shares changed hands during trading, an increase of 173% from the average daily volume of 849,568 shares. The stock had previously closed at $201.80.

Specifically, Director Mark Vachon sold 7,000 shares of the company’s stock in a transaction on Monday, December 11th. The shares were sold at an average price of $216.64, for a total transaction of $1,516,480.00. Following the sale, the director now owns 8,000 shares of the company’s stock, valued at $1,733,120. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider David Davidson sold 4,000 shares of the company’s stock in a transaction on Monday, October 2nd. The shares were sold at an average price of $131.31, for a total transaction of $525,240.00. The disclosure for this sale can be found here. Insiders sold 97,582 shares of company stock worth $15,597,932 in the last three months. Insiders own 3.90% of the company’s stock.

A number of equities research analysts recently issued reports on BLUE shares. Cowen reaffirmed an “outperform” rating on shares of bluebird bio in a research note on Thursday, August 31st. Wedbush reaffirmed an “outperform” rating and set a $135.00 price target (up previously from $121.00) on shares of bluebird bio in a research note on Friday, September 1st. Wells Fargo & Company reaffirmed an “outperform” rating and set a $158.00 price target (up previously from $134.00) on shares of bluebird bio in a research note on Tuesday, September 5th. Barclays started coverage on shares of bluebird bio in a research note on Wednesday, September 6th. They set an “overweight” rating and a $151.00 price target on the stock. Finally, Cantor Fitzgerald reaffirmed a “sell” rating and set a $39.00 price target on shares of bluebird bio in a research note on Thursday, September 28th. Two investment analysts have rated the stock with a sell rating, eight have given a hold rating and thirteen have assigned a buy rating to the company’s stock. bluebird bio has an average rating of “Hold” and an average target price of $157.45.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Wednesday, November 1st. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the Zacks’ consensus estimate of ($1.68) by ($0.05). bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The firm had revenue of $7.71 million for the quarter, compared to the consensus estimate of $8.47 million. During the same quarter last year, the firm earned ($2.07) EPS. The company’s revenue was up 397.4% on a year-over-year basis. analysts predict that bluebird bio, Inc. will post -6.72 EPS for the current year.

Several hedge funds and other institutional investors have recently bought and sold shares of BLUE. Dimensional Fund Advisors LP grew its holdings in shares of bluebird bio by 24.5% in the first quarter. Dimensional Fund Advisors LP now owns 84,961 shares of the biotechnology company’s stock worth $7,723,000 after purchasing an additional 16,741 shares during the last quarter. Bank of Montreal Can grew its holdings in shares of bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after purchasing an additional 911 shares during the last quarter. Aperio Group LLC grew its holdings in shares of bluebird bio by 10.9% in the second quarter. Aperio Group LLC now owns 5,001 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 491 shares during the last quarter. Russell Investments Group Ltd. grew its holdings in shares of bluebird bio by 15.0% in the second quarter. Russell Investments Group Ltd. now owns 38,882 shares of the biotechnology company’s stock worth $4,084,000 after purchasing an additional 5,059 shares during the last quarter. Finally, Strs Ohio grew its holdings in shares of bluebird bio by 25.4% in the second quarter. Strs Ohio now owns 7,400 shares of the biotechnology company’s stock worth $777,000 after purchasing an additional 1,500 shares during the last quarter.

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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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