bluebird bio (BLUE) Shares Down 5.6% Following Insider Selling

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bluebird bio Inc (NASDAQ:BLUE) was down 5.6% during mid-day trading on Thursday following insider selling activity. The company traded as low as $151.80 and last traded at $152.30. Approximately 708,582 shares traded hands during trading, a decline of 11% from the average daily volume of 795,853 shares. The stock had previously closed at $161.40.

Specifically, Director Mark Vachon sold 1,000 shares of the stock in a transaction dated Thursday, June 14th. The shares were sold at an average price of $189.99, for a total transaction of $189,990.00. Following the transaction, the director now owns 300 shares of the company’s stock, valued at $56,997. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Philip D. Gregory sold 3,901 shares of the stock in a transaction dated Monday, June 18th. The stock was sold at an average price of $178.41, for a total transaction of $695,977.41. Following the transaction, the insider now directly owns 27,471 shares in the company, valued at approximately $4,901,101.11. The disclosure for this sale can be found here. Insiders have sold 75,086 shares of company stock worth $12,339,862 in the last ninety days. Corporate insiders own 3.00% of the company’s stock.

Several equities analysts have recently commented on BLUE shares. Cantor Fitzgerald reaffirmed an “underweight” rating on shares of bluebird bio in a research report on Wednesday, May 16th. Piper Jaffray Companies started coverage on shares of bluebird bio in a research report on Wednesday, May 30th. They set a “buy” rating and a $240.00 price target on the stock. Cowen reaffirmed a “buy” rating on shares of bluebird bio in a research report on Monday, June 4th. BidaskClub raised shares of bluebird bio from a “sell” rating to a “hold” rating in a research report on Friday, June 15th. Finally, Evercore ISI raised shares of bluebird bio from an “in-line” rating to an “outperform” rating and increased their price target for the stock from $175.00 to $230.00 in a research report on Tuesday, June 19th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. The company currently has an average rating of “Buy” and a consensus price target of $212.05.

The company has a market capitalization of $8.74 billion, a price-to-earnings ratio of -19.75 and a beta of 1.86.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Thursday, August 2nd. The biotechnology company reported ($2.91) earnings per share for the quarter, missing the consensus estimate of ($2.30) by ($0.61). The business had revenue of $7.80 million for the quarter, compared to analyst estimates of $10.68 million. bluebird bio had a negative return on equity of 31.57% and a negative net margin of 1,281.01%. bluebird bio’s revenue was down 53.3% compared to the same quarter last year. During the same quarter last year, the company earned ($1.73) EPS. analysts expect that bluebird bio Inc will post -10.78 earnings per share for the current year.

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. Wealthcare Advisory Partners LLC acquired a new stake in shares of bluebird bio in the first quarter valued at approximately $171,000. Tower Research Capital LLC TRC acquired a new stake in shares of bluebird bio in the second quarter valued at approximately $201,000. XR Securities LLC acquired a new stake in shares of bluebird bio in the second quarter valued at approximately $212,000. Laurel Wealth Advisors Inc. acquired a new stake in shares of bluebird bio in the first quarter valued at approximately $215,000. Finally, Opus Point Partners Management LLC acquired a new stake in shares of bluebird bio in the first quarter valued at approximately $226,000. Hedge funds and other institutional investors own 98.38% of the company’s stock.

About bluebird bio (NASDAQ:BLUE)

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

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