Tocqueville Asset Management L.P. Has $8.37 Million Stake in bluebird bio Inc (BLUE)
Tocqueville Asset Management L.P. lifted its stake in bluebird bio Inc (NASDAQ:BLUE) by 105.4% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 53,345 shares of the biotechnology company’s stock after buying an additional 27,380 shares during the period. Tocqueville Asset Management L.P.’s holdings in bluebird bio were worth $8,372,000 as of its most recent SEC filing.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Wealthcare Advisory Partners LLC bought a new stake in shares of bluebird bio in the first quarter worth about $171,000. Laurel Wealth Advisors Inc. bought a new stake in shares of bluebird bio in the first quarter worth about $215,000. Opus Point Partners Management LLC bought a new stake in shares of bluebird bio in the first quarter worth about $226,000. XR Securities LLC bought a new stake in shares of bluebird bio in the second quarter worth about $212,000. Finally, Cambridge Investment Research Advisors Inc. bought a new stake in shares of bluebird bio in the first quarter worth about $233,000. Hedge funds and other institutional investors own 98.38% of the company’s stock.
bluebird bio stock opened at $151.55 on Friday. The company has a market cap of $8.25 billion, a price-to-earnings ratio of -19.66 and a beta of 1.86. bluebird bio Inc has a fifty-two week low of $119.90 and a fifty-two week high of $236.17.
In other bluebird bio news, insider Jeffrey T. Walsh sold 21,500 shares of bluebird bio stock in a transaction that occurred on Thursday, August 2nd. The stock was sold at an average price of $152.02, for a total transaction of $3,268,430.00. Following the sale, the insider now directly owns 56,995 shares of the company’s stock, valued at approximately $8,664,379.90. The transaction was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Mark Vachon sold 1,000 shares of bluebird bio stock in a transaction that occurred on Thursday, June 14th. The shares were sold at an average price of $189.99, for a total value of $189,990.00. Following the sale, the director now directly owns 300 shares in the company, valued at $56,997. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 75,086 shares of company stock worth $12,339,862. Insiders own 3.00% of the company’s stock.
Several analysts recently issued reports on BLUE shares. Cowen reissued a “buy” rating on shares of bluebird bio in a research note on Monday, June 4th. Evercore ISI raised bluebird bio from an “in-line” rating to an “outperform” rating and raised their target price for the stock from $175.00 to $230.00 in a research note on Tuesday, June 19th. Cantor Fitzgerald raised bluebird bio from an “underweight” rating to an “overweight” rating in a research note on Monday, June 4th. SunTrust Banks reissued a “buy” rating and issued a $223.00 target price on shares of bluebird bio in a research note on Friday, August 3rd. Finally, BMO Capital Markets reissued a “buy” rating and issued a $208.00 target price on shares of bluebird bio in a research note on Friday, August 3rd. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company’s stock. The company presently has an average rating of “Buy” and a consensus price target of $212.05.
bluebird bio Profile
bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.
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