bluebird bio (NASDAQ:BLUE) Downgraded by ValuEngine

ValuEngine lowered shares of bluebird bio (NASDAQ:BLUE) from a strong-buy rating to a buy rating in a research note issued to investors on Wednesday, ValuEngine reports.

BLUE has been the topic of several other research reports. Canaccord Genuity reaffirmed a buy rating and issued a $118.00 price objective on shares of bluebird bio in a research report on Tuesday, May 12th. BidaskClub raised shares of bluebird bio from a sell rating to a hold rating in a research note on Friday, July 10th. Wedbush reduced their price target on shares of bluebird bio from $89.00 to $81.00 and set an outperform rating on the stock in a research note on Thursday, August 6th. Barclays reissued a buy rating on shares of bluebird bio in a research report on Wednesday, May 13th. Finally, SVB Leerink upped their target price on shares of bluebird bio from $129.00 to $133.00 and gave the stock an outperform rating in a research note on Friday, June 12th. Five equities research analysts have rated the stock with a hold rating and sixteen have given a buy rating to the company. The company has an average rating of Buy and an average price target of $101.00.

Shares of BLUE stock traded down $1.23 during trading hours on Wednesday, reaching $59.67. The stock had a trading volume of 734,939 shares, compared to its average volume of 1,154,328. The firm has a 50-day simple moving average of $63.13 and a 200-day simple moving average of $63.72. The firm has a market capitalization of $4.36 billion, a PE ratio of -5.07 and a beta of 2.32. bluebird bio has a twelve month low of $38.95 and a twelve month high of $124.15. The company has a debt-to-equity ratio of 0.10, a current ratio of 8.18 and a quick ratio of 8.18.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, August 5th. The biotechnology company reported ($0.36) EPS for the quarter, topping analysts’ consensus estimates of ($2.58) by $2.22. bluebird bio had a negative net margin of 272.66% and a negative return on equity of 47.02%. On average, equities analysts anticipate that bluebird bio will post -10.88 earnings per share for the current year.

In other bluebird bio news, insider Kory James Wentworth sold 596 shares of the stock in a transaction on Monday, July 20th. The stock was sold at an average price of $66.38, for a total transaction of $39,562.48. Following the transaction, the insider now owns 9,594 shares of the company’s stock, valued at approximately $636,849.72. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Nick Leschly sold 443 shares of the firm’s stock in a transaction on Thursday, July 2nd. The stock was sold at an average price of $61.57, for a total value of $27,275.51. Following the sale, the chief executive officer now owns 99,904 shares in the company, valued at approximately $6,151,089.28. The disclosure for this sale can be found here. Insiders sold a total of 1,716 shares of company stock worth $110,272 over the last quarter. Company insiders own 3.60% of the company’s stock.

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in BLUE. Captrust Financial Advisors lifted its holdings in bluebird bio by 48.0% during the 2nd quarter. Captrust Financial Advisors now owns 11,218 shares of the biotechnology company’s stock worth $685,000 after buying an additional 3,637 shares during the last quarter. Canada Pension Plan Investment Board increased its holdings in shares of bluebird bio by 20.0% in the 2nd quarter. Canada Pension Plan Investment Board now owns 16,590 shares of the biotechnology company’s stock valued at $1,013,000 after acquiring an additional 2,766 shares during the last quarter. Man Group plc acquired a new stake in shares of bluebird bio during the 2nd quarter valued at approximately $5,041,000. Point72 Hong Kong Ltd lifted its stake in bluebird bio by 8,723.3% during the second quarter. Point72 Hong Kong Ltd now owns 17,029 shares of the biotechnology company’s stock worth $1,039,000 after purchasing an additional 16,836 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in bluebird bio during the second quarter worth $371,000.

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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Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

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