bluebird bio (NASDAQ:BLUE – Get Rating) had its price target reduced by SVB Leerink from $9.00 to $8.00 in a research note issued to investors on Monday, Benzinga reports. They currently have a market perform rating on the biotechnology company's stock. SVB Leerink also issued estimates for bluebird bio's Q4 2022 earnings at ($1.18) EPS, FY2022 earnings at ($5.13) EPS, Q1 2023 earnings at ($0.64) EPS, Q2 2023 earnings at ($0.62) EPS, Q3 2023 earnings at ($0.58) EPS, Q4 2023 earnings at ($0.48) EPS, FY2023 earnings at ($2.31) EPS and FY2024 earnings at ($1.59) EPS.
Several other equities analysts also recently weighed in on the company. Royal Bank of Canada lowered their target price on bluebird bio to $8.00 and set a sector perform rating on the stock in a research report on Tuesday, November 8th. StockNews.com began coverage on bluebird bio in a research report on Wednesday, October 12th. They issued a sell rating on the stock. Three analysts have rated the stock with a sell rating, six have issued a hold rating and one has given a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of Hold and a consensus price target of $6.75.
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NASDAQ BLUE opened at $6.23 on Monday. The company has a market capitalization of $516.61 million, a PE ratio of -1.02 and a beta of 0.99. The business's fifty day moving average is $7.36 and its 200 day moving average is $6.52. bluebird bio has a fifty-two week low of $2.87 and a fifty-two week high of $8.58.
bluebird bio (NASDAQ:BLUE – Get Rating) last released its earnings results on Monday, November 7th. The biotechnology company reported ($0.92) earnings per share for the quarter, beating the consensus estimate of ($1.28) by $0.36. The company had revenue of $0.07 million for the quarter, compared to the consensus estimate of $2.25 million. bluebird bio had a negative return on equity of 173.58% and a negative net margin of 8,828.28%. On average, sell-side analysts forecast that bluebird bio will post -4.41 EPS for the current year.Insider Transactions at bluebird bio
In other news, Director Nick Leschly sold 4,290 shares of bluebird bio stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $7.80, for a total value of $33,462.00. Following the sale, the director now directly owns 280,149 shares of the company's stock, valued at $2,185,162.20. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Over the last three months, insiders have sold 9,506 shares of company stock valued at $72,088. 2.90% of the stock is currently owned by insiders.
Institutional Investors Weigh In On bluebird bio
Large investors have recently made changes to their positions in the company. Metropolitan Life Insurance Co NY increased its stake in bluebird bio by 142.4% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,671 shares of the biotechnology company's stock worth $30,000 after acquiring an additional 2,744 shares during the last quarter. Amalgamated Bank bought a new stake in bluebird bio during the first quarter worth approximately $39,000. PEAK6 Investments LLC bought a new stake in bluebird bio during the second quarter worth approximately $41,000. US Bancorp DE grew its stake in shares of bluebird bio by 82.9% during the first quarter. US Bancorp DE now owns 8,486 shares of the biotechnology company's stock valued at $41,000 after buying an additional 3,847 shares during the last quarter. Finally, Keybank National Association OH bought a new position in shares of bluebird bio during the second quarter valued at approximately $42,000. 79.01% of the stock is owned by institutional investors.
bluebird bio Company Profile
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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.
Further Reading
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