bluebird bio Inc (BLUE) Stock Price Down 5.8% After Insider Selling

Shares of bluebird bio Inc (NASDAQ:BLUE) fell 5.8% on Monday after an insider sold shares in the company. The company traded as low as $93.10 and last traded at $94.00, with a volume of 1,790,913 shares trading hands. The stock had previously closed at $99.80.

Specifically, insider Philip D. Gregory sold 2,250 shares of the business’s stock in a transaction on Thursday, July 6th. The shares were sold at an average price of $103.83, for a total value of $233,617.50. Following the sale, the insider now owns 33,734 shares of the company’s stock, valued at $3,502,601.22. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, Director Daniel Lynch sold 1,000 shares of the business’s stock in a transaction on Thursday, April 27th. The stock was sold at an average price of $90.01, for a total transaction of $90,010.00. Following the completion of the sale, the director now directly owns 2,400 shares in the company, valued at approximately $216,024. The disclosure for this sale can be found here. In the last three months, insiders sold 72,545 shares of company stock worth $7,554,195. 3.90% of the stock is currently owned by insiders.

A number of brokerages have recently commented on BLUE. BidaskClub lowered shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research report on Friday, June 30th. Morgan Stanley reissued an “equal weight” rating and issued a $103.00 price objective (down previously from $105.00) on shares of bluebird bio in a research report on Monday. Cantor Fitzgerald set a $39.00 price objective on shares of bluebird bio and gave the stock a “sell” rating in a research report on Saturday, June 24th. Cowen and Company reissued an “outperform” rating on shares of bluebird bio in a research report on Friday, June 9th. Finally, Jefferies Group LLC reissued a “buy” rating on shares of bluebird bio in a research report on Thursday, July 6th. Two analysts have rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. The stock currently has an average rating of “Buy” and an average target price of $100.02.

The company’s market cap is $3.85 billion. The company’s 50-day moving average is $97.43 and its 200-day moving average is $83.86.

bluebird bio (NASDAQ:BLUE) last released its earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) EPS for the quarter, topping the Zacks’ consensus estimate of ($1.76) by $0.08. The company had revenue of $6.83 million for the quarter, compared to analysts’ expectations of $1.51 million. bluebird bio had a negative return on equity of 32.72% and a negative net margin of 1,005.74%. Analysts predict that bluebird bio Inc will post ($6.72) EPS for the current year.

Several large investors have recently added to or reduced their stakes in BLUE. Martingale Asset Management L P boosted its stake in bluebird bio by 0.6% in the first quarter. Martingale Asset Management L P now owns 17,008 shares of the biotechnology company’s stock worth $1,547,000 after buying an additional 100 shares during the last quarter. Legal & General Group Plc boosted its stake in bluebird bio by 2.6% in the first quarter. Legal & General Group Plc now owns 13,944 shares of the biotechnology company’s stock worth $1,272,000 after buying an additional 357 shares during the last quarter. First Mercantile Trust Co. boosted its stake in bluebird bio by 14.4% in the first quarter. First Mercantile Trust Co. now owns 2,897 shares of the biotechnology company’s stock worth $263,000 after buying an additional 365 shares during the last quarter. Dimensional Fund Advisors LP boosted its stake in bluebird bio by 0.8% in the fourth quarter. Dimensional Fund Advisors LP now owns 68,220 shares of the biotechnology company’s stock worth $4,210,000 after buying an additional 540 shares during the last quarter. Finally, Great West Life Assurance Co. Can boosted its stake in bluebird bio by 28.5% in the first quarter. Great West Life Assurance Co. Can now owns 4,509 shares of the biotechnology company’s stock worth $409,000 after buying an additional 1,000 shares during the last quarter.

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bluebird bio Company Profile

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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