Peregrine Capital Management LLC Trims Position in bluebird bio Inc (NASDAQ:BLUE)

Peregrine Capital Management LLC lessened its stake in bluebird bio Inc (NASDAQ:BLUE) by 34.8% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 86,509 shares of the biotechnology company’s stock after selling 46,245 shares during the period. Peregrine Capital Management LLC owned 0.16% of bluebird bio worth $5,281,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the stock. Clearbridge Investments LLC increased its stake in bluebird bio by 36.7% in the 1st quarter. Clearbridge Investments LLC now owns 908 shares of the biotechnology company’s stock worth $42,000 after buying an additional 244 shares during the period. Raymond James & Associates grew its holdings in bluebird bio by 3.9% during the 1st quarter. Raymond James & Associates now owns 6,908 shares of the biotechnology company’s stock worth $317,000 after acquiring an additional 259 shares in the last quarter. Stifel Financial Corp grew its holdings in bluebird bio by 4.5% during the 4th quarter. Stifel Financial Corp now owns 7,137 shares of the biotechnology company’s stock worth $624,000 after acquiring an additional 308 shares in the last quarter. NuWave Investment Management LLC grew its holdings in bluebird bio by 27.1% during the 2nd quarter. NuWave Investment Management LLC now owns 1,955 shares of the biotechnology company’s stock worth $126,000 after acquiring an additional 417 shares in the last quarter. Finally, KBC Group NV grew its holdings in bluebird bio by 1.3% during the 1st quarter. KBC Group NV now owns 33,119 shares of the biotechnology company’s stock worth $1,523,000 after acquiring an additional 432 shares in the last quarter.

In other bluebird bio news, insider Kory James Wentworth sold 596 shares of the firm’s stock in a transaction that occurred on Monday, July 20th. The shares were sold at an average price of $66.38, for a total transaction of $39,562.48. Following the completion of the transaction, the insider now directly owns 9,594 shares of the company’s stock, valued at approximately $636,849.72. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Nick Leschly sold 444 shares of the firm’s stock in a transaction that occurred on Tuesday, June 2nd. The stock was sold at an average price of $64.04, for a total transaction of $28,433.76. Following the transaction, the chief executive officer now directly owns 100,688 shares of the company’s stock, valued at $6,448,059.52. The disclosure for this sale can be found here. Insiders sold a total of 1,716 shares of company stock valued at $110,272 over the last quarter. 3.60% of the stock is owned by company insiders.

BLUE stock opened at $60.70 on Friday. The firm has a 50 day moving average of $63.48 and a 200 day moving average of $65.64. The stock has a market capitalization of $3.38 billion, a PE ratio of -4.06 and a beta of 2.37. The company has a quick ratio of 5.25, a current ratio of 5.25 and a debt-to-equity ratio of 0.16. bluebird bio Inc has a 52 week low of $38.95 and a 52 week high of $136.00.

bluebird bio (NASDAQ:BLUE) last released its earnings results on Monday, May 11th. The biotechnology company reported ($3.64) EPS for the quarter, topping analysts’ consensus estimates of ($4.05) by $0.41. The company had revenue of $21.90 million during the quarter, compared to analysts’ expectations of $8.00 million. bluebird bio had a negative net margin of 1,531.04% and a negative return on equity of 60.05%. bluebird bio’s revenue for the quarter was up 75.2% on a year-over-year basis. During the same period last year, the business earned ($2.99) EPS. On average, equities research analysts expect that bluebird bio Inc will post -12.12 earnings per share for the current year.

Several brokerages have issued reports on BLUE. Royal Bank of Canada began coverage on shares of bluebird bio in a report on Tuesday, May 12th. They set an “outperform” rating and a $100.00 target price on the stock. Zacks Investment Research upgraded shares of bluebird bio from a “hold” rating to a “buy” rating and set a $65.00 target price on the stock in a report on Tuesday, April 28th. BMO Capital Markets increased their target price on shares of bluebird bio from $107.00 to $112.00 and gave the stock an “outperform” rating in a report on Tuesday, May 12th. Oppenheimer began coverage on shares of bluebird bio in a report on Wednesday. They set a “buy” rating and a $111.00 target price on the stock. Finally, Barclays reiterated a “buy” rating on shares of bluebird bio in a report on Wednesday, May 13th. Five equities research analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock presently has an average rating of “Buy” and an average price target of $104.71.

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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Institutional Ownership by Quarter for bluebird bio (NASDAQ:BLUE)

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