Philip D. Gregory Sells 600 Shares of bluebird bio Inc (NASDAQ:BLUE) Stock

bluebird bio Inc (NASDAQ:BLUE) insider Philip D. Gregory sold 600 shares of bluebird bio stock in a transaction on Friday, January 10th. The shares were sold at an average price of $94.03, for a total transaction of $56,418.00. Following the completion of the sale, the insider now owns 25,308 shares in the company, valued at $2,379,711.24. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

BLUE traded up $5.45 on Tuesday, reaching $92.08. The company had a trading volume of 1,079,496 shares, compared to its average volume of 863,766. bluebird bio Inc has a fifty-two week low of $71.42 and a fifty-two week high of $163.43. The stock has a market cap of $5.01 billion, a P/E ratio of -8.62 and a beta of 2.37. The company’s fifty day moving average is $86.59 and its 200 day moving average is $100.77. The company has a debt-to-equity ratio of 0.12, a quick ratio of 6.22 and a current ratio of 6.22.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Thursday, October 31st. The biotechnology company reported ($3.73) EPS for the quarter, missing the Zacks’ consensus estimate of ($3.54) by ($0.19). bluebird bio had a negative net margin of 1,326.56% and a negative return on equity of 42.29%. The company had revenue of $8.91 million during the quarter, compared to analyst estimates of $12.47 million. During the same quarter last year, the company posted ($2.73) EPS. The firm’s quarterly revenue was down 22.7% on a year-over-year basis. On average, sell-side analysts expect that bluebird bio Inc will post -14.05 EPS for the current year.

Several research analysts have recently weighed in on the stock. Svb Leerink upgraded shares of bluebird bio from a “market perform” rating to an “outperform” rating and set a $119.00 price objective on the stock in a research note on Tuesday, November 26th. Morgan Stanley set a $100.00 price objective on shares of bluebird bio and gave the stock a “hold” rating in a research note on Friday, November 1st. BidaskClub lowered shares of bluebird bio from a “hold” rating to a “sell” rating in a research note on Tuesday, December 31st. ValuEngine upgraded shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research note on Friday, November 1st. Finally, Wells Fargo & Co lowered their price objective on shares of bluebird bio from $242.00 to $160.00 and set an “overweight” rating on the stock in a research note on Monday, December 9th. One analyst has rated the stock with a sell rating, seven have assigned a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the company’s stock. bluebird bio has an average rating of “Buy” and a consensus target price of $136.56.

A number of institutional investors and hedge funds have recently made changes to their positions in BLUE. Invesco Ltd. grew its stake in bluebird bio by 898.6% in the 2nd quarter. Invesco Ltd. now owns 1,053,942 shares of the biotechnology company’s stock valued at $134,061,000 after buying an additional 948,400 shares during the last quarter. Nuveen Asset Management LLC bought a new stake in bluebird bio in the 2nd quarter valued at about $53,104,000. Eaton Vance Management boosted its holdings in bluebird bio by 483.4% in the 2nd quarter. Eaton Vance Management now owns 255,338 shares of the biotechnology company’s stock valued at $32,479,000 after purchasing an additional 211,569 shares during the period. Victory Capital Management Inc. boosted its holdings in bluebird bio by 29.5% in the 2nd quarter. Victory Capital Management Inc. now owns 752,300 shares of the biotechnology company’s stock valued at $95,693,000 after purchasing an additional 171,555 shares during the period. Finally, State Street Corp boosted its holdings in bluebird bio by 11.1% in the 3rd quarter. State Street Corp now owns 1,304,238 shares of the biotechnology company’s stock valued at $119,755,000 after purchasing an additional 130,765 shares during the period.

bluebird bio Company Profile

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.

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