Shares of bluebird bio, Inc. (NASDAQ:BLUE – Get Rating) were up 5.5% during mid-day trading on Tuesday after Morgan Stanley raised their price target on the stock from $3.00 to $4.00. Morgan Stanley currently has an underweight rating on the stock. bluebird bio traded as high as $6.60 and last traded at $6.53. Approximately 3,046,105 shares changed hands during trading, a decline of 37% from the average daily volume of 4,807,327 shares. The stock had previously closed at $6.19.
Other equities analysts have also recently issued reports about the stock. StockNews.com started coverage on shares of bluebird bio in a research report on Wednesday, October 12th. They set a "sell" rating for the company. Royal Bank of Canada decreased their price target on shares of bluebird bio to $8.00 and set a "sector perform" rating for the company in a research report on Tuesday, November 8th. Finally, SVB Leerink decreased their price target on shares of bluebird bio from $9.00 to $8.00 and set a "market perform" rating for the company in a research report on Monday. Three equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and one has assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $6.75.Get bluebird bio alerts:
Insider Transactions at bluebird bio
In other news, Director Nick Leschly sold 4,290 shares of the stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $7.80, for a total transaction of $33,462.00. Following the completion of the sale, the director now directly owns 280,149 shares in the company, valued at $2,185,162.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Insiders sold a total of 9,506 shares of company stock worth $72,088 over the last three months. 2.20% of the stock is owned by company insiders.
Institutional Investors Weigh In On bluebird bioA number of large investors have recently bought and sold shares of the stock. Inspire Investing LLC grew its holdings in bluebird bio by 3.6% in the second quarter. Inspire Investing LLC now owns 50,497 shares of the biotechnology company's stock worth $209,000 after purchasing an additional 1,773 shares during the period. Raymond James Financial Services Advisors Inc. grew its holdings in bluebird bio by 6.4% in the third quarter. Raymond James Financial Services Advisors Inc. now owns 35,817 shares of the biotechnology company's stock worth $227,000 after purchasing an additional 2,156 shares during the period. Captrust Financial Advisors grew its holdings in bluebird bio by 22.5% in the third quarter. Captrust Financial Advisors now owns 14,679 shares of the biotechnology company's stock worth $93,000 after purchasing an additional 2,700 shares during the period. Metropolitan Life Insurance Co NY grew its holdings in bluebird bio by 142.4% in the third quarter. Metropolitan Life Insurance Co NY now owns 4,671 shares of the biotechnology company's stock worth $30,000 after purchasing an additional 2,744 shares during the period. Finally, US Bancorp DE grew its holdings in bluebird bio by 82.9% in the first quarter. US Bancorp DE now owns 8,486 shares of the biotechnology company's stock worth $41,000 after purchasing an additional 3,847 shares during the period. 79.01% of the stock is currently owned by institutional investors and hedge funds.
bluebird bio Price Performance
The firm has a market capitalization of $541.49 million, a price-to-earnings ratio of -1.07 and a beta of 0.99. The business's fifty day simple moving average is $7.40 and its 200 day simple moving average is $6.52.
bluebird bio (NASDAQ:BLUE – Get Rating) last posted its quarterly earnings results on Monday, November 7th. The biotechnology company reported ($0.92) EPS for the quarter, topping analysts' consensus estimates of ($1.28) by $0.36. The business had revenue of $0.07 million during the quarter, compared to analysts' expectations of $2.25 million. bluebird bio had a negative net margin of 8,828.28% and a negative return on equity of 173.58%. Equities research analysts expect that bluebird bio, Inc. will post -4.36 earnings per share for the current fiscal year.
About bluebird bio
bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes transformative gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include betibeglogene autotemcel for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and elivaldogene autotemcel to treat cerebral adrenoleukodystrophy.
- Get a free copy of the StockNews.com research report on bluebird bio (BLUE)
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