bluebird bio (NASDAQ:BLUE) Stock Price Down 3.9% Following Insider Selling

Shares of bluebird bio, Inc. (NASDAQ:BLUEGet Rating) were down 3.9% during mid-day trading on Friday after an insider sold shares in the company. The stock traded as low as $7.88 and last traded at $7.90. Approximately 153,286 shares changed hands during mid-day trading, a decline of 95% from the average daily volume of 3,391,661 shares. The stock had previously closed at $8.22.

Specifically, Director Nick Leschly sold 4,290 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The shares were sold at an average price of $7.80, for a total value of $33,462.00. Following the completion of the sale, the director now owns 280,149 shares in the company, valued at $2,185,162.20. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders sold a total of 9,506 shares of company stock worth $72,088 over the last 90 days. Company insiders own 2.90% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on BLUE shares. Royal Bank of Canada reduced 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. Raymond James lifted their price objective on bluebird bio from $8.00 to $10.00 and gave the stock an “outperform” rating in a research report on Tuesday, September 20th. StockNews.com started coverage on shares of bluebird bio in a research note on Wednesday, October 12th. They issued a “sell” rating for the company. Finally, SVB Leerink boosted their price objective on shares of bluebird bio from $8.00 to $9.00 and gave the company a “market perform” rating in a research note on Friday, January 6th. Three research analysts have rated the stock with a sell rating, six have issued a hold rating and one has assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $6.75.

bluebird bio Stock Performance

The firm has a market cap of $654.16 million, a price-to-earnings ratio of -1.29 and a beta of 0.99. The business’s 50 day moving average price is $7.48 and its 200-day moving average price is $6.41.

bluebird bio (NASDAQ:BLUEGet Rating) last issued its earnings results on Monday, November 7th. The biotechnology company reported ($0.92) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.28) by $0.36. The business had revenue of $0.07 million for the quarter, compared to analyst estimates of $2.25 million. bluebird bio had a negative net margin of 8,828.28% and a negative return on equity of 173.58%. On average, analysts forecast that bluebird bio, Inc. will post -4.36 earnings per share for the current fiscal year.

Institutional Investors Weigh In On bluebird bio

A number of institutional investors have recently modified their holdings of the business. State Street Corp grew its position in shares of bluebird bio by 72.7% during the 1st quarter. State Street Corp now owns 13,151,891 shares of the biotechnology company’s stock valued at $63,787,000 after buying an additional 5,534,581 shares during the last quarter. BlackRock Inc. grew its position in shares of bluebird bio by 18.7% during the 3rd quarter. BlackRock Inc. now owns 6,898,975 shares of the biotechnology company’s stock valued at $43,671,000 after buying an additional 1,085,635 shares during the last quarter. Tang Capital Management LLC grew its position in shares of bluebird bio by 7.2% during the 3rd quarter. Tang Capital Management LLC now owns 6,335,528 shares of the biotechnology company’s stock valued at $40,104,000 after buying an additional 424,841 shares during the last quarter. Vanguard Group Inc. grew its position in shares of bluebird bio by 5.8% during the 3rd quarter. Vanguard Group Inc. now owns 3,709,607 shares of the biotechnology company’s stock valued at $23,482,000 after buying an additional 202,698 shares during the last quarter. Finally, Renaissance Technologies LLC grew its position in shares of bluebird bio by 198.9% during the 2nd quarter. Renaissance Technologies LLC now owns 2,810,000 shares of the biotechnology company’s stock valued at $11,633,000 after buying an additional 1,870,000 shares during the last quarter. Institutional investors own 79.01% of the company’s stock.

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.

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