bluebird bio (BLUE) Shares Down 2.5% After Insider Selling
bluebird bio, Inc. (NASDAQ:BLUE) shares traded down 2.5% on Tuesday after an insider sold shares in the company. The company traded as low as $161.45 and last traded at $166.40. 283,447 shares traded hands during trading, a decline of 66% from the average session volume of 826,436 shares. The stock had previously closed at $162.30.
Specifically, insider David Davidson sold 4,000 shares of the stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $131.31, for a total transaction of $525,240.00. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Philip D. Gregory sold 2,250 shares of the stock in a transaction on Friday, December 1st. The stock was sold at an average price of $172.54, for a total value of $388,215.00. Following the sale, the insider now directly owns 28,734 shares in the company, valued at $4,957,764.36. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,450 shares of company stock worth $15,790,373. 3.90% of the stock is currently owned by insiders.
Several analysts have recently issued reports on the company. Jefferies Group reissued a “buy” rating and set a $88.00 target price on shares of bluebird bio in a report on Friday, August 11th. Morgan Stanley upgraded bluebird bio from an “underweight” rating to an “equal weight” rating in a research report on Friday, November 3rd. Evercore ISI upgraded bluebird bio from an “in-line” rating to an “outperform” rating and set a $102.00 price objective for the company in a research report on Monday, October 16th. Maxim Group set a $170.00 price objective on bluebird bio and gave the stock a “buy” rating in a research report on Friday, November 17th. Finally, Goldman Sachs Group restated a “buy” rating and set a $186.00 price objective on shares of bluebird bio in a research report on Friday, October 6th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating and fourteen have given a buy rating to the stock. The stock has a consensus rating of “Buy” and an average price target of $137.57.
bluebird bio (NASDAQ:BLUE) last posted its earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing the consensus estimate of ($1.68) by ($0.05). The firm had revenue of $7.71 million during the quarter, compared to the consensus estimate of $8.47 million. bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. bluebird bio’s revenue for the quarter was up 397.4% compared to the same quarter last year. During the same quarter in the prior year, the business posted ($2.07) earnings per share. equities research analysts predict that bluebird bio, Inc. will post -6.68 earnings per share for the current year.
A number of institutional investors have recently bought and sold shares of BLUE. QS Investors LLC raised its position in shares of bluebird bio by 70.7% during the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock worth $127,000 after acquiring an additional 500 shares during the last quarter. Ladenburg Thalmann Financial Services Inc. raised its position in shares of bluebird bio by 454.2% during the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock worth $136,000 after acquiring an additional 813 shares during the last quarter. Bank of Montreal Can raised its position in shares of bluebird bio by 118.9% during the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after acquiring an additional 911 shares during the last quarter. Turner Investments LLC bought a new position in shares of bluebird bio during the second quarter worth about $184,000. Finally, Biondo Investment Advisors LLC bought a new position in shares of bluebird bio during the third quarter worth about $203,000.
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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