bluebird bio (BLUE) Downgraded to Sell at BidaskClub

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bluebird bio (NASDAQ:BLUE) was downgraded by investment analysts at BidaskClub from a “hold” rating to a “sell” rating in a research note issued to investors on Tuesday, BidAskClub reports.

A number of other research analysts also recently issued reports on BLUE. Zacks Investment Research downgraded shares of bluebird bio from a “hold” rating to a “sell” rating in a research report on Tuesday, January 8th. Cantor Fitzgerald set a $122.00 price objective on shares of bluebird bio and gave the stock a “hold” rating in a research report on Friday, March 22nd. Canaccord Genuity reaffirmed a “buy” rating and issued a $161.00 price objective (down previously from $250.00) on shares of bluebird bio in a research report on Wednesday, January 23rd. ValuEngine raised shares of bluebird bio from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Finally, SunTrust Banks cut their price objective on shares of bluebird bio to $184.00 and set a “buy” rating on the stock in a research report on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the company. bluebird bio has an average rating of “Buy” and a consensus price target of $168.12.

Shares of bluebird bio stock opened at $135.52 on Tuesday. bluebird bio has a 52-week low of $87.49 and a 52-week high of $199.70. The company has a market capitalization of $7.53 billion, a PE ratio of -12.69 and a beta of 2.62.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Thursday, February 21st. The biotechnology company reported ($2.72) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($2.83) by $0.11. bluebird bio had a negative net margin of 1,018.02% and a negative return on equity of 32.15%. The firm had revenue of $19.20 million for the quarter, compared to the consensus estimate of $9.06 million. During the same quarter in the previous year, the firm earned ($2.52) EPS. The company’s quarterly revenue was up 357.1% compared to the same quarter last year. As a group, research analysts forecast that bluebird bio will post -11.62 earnings per share for the current year.

In other bluebird bio news, insider Jeffrey T. Walsh sold 1,500 shares of the business’s stock in a transaction that occurred on Wednesday, April 10th. The shares were sold at an average price of $156.65, for a total transaction of $234,975.00. Following the sale, the insider now owns 42,421 shares of the company’s stock, valued at approximately $6,645,249.65. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, insider David Davidson sold 4,910 shares of the business’s stock in a transaction that occurred on Monday, February 4th. The stock was sold at an average price of $134.30, for a total transaction of $659,413.00. Following the sale, the insider now directly owns 31,616 shares in the company, valued at approximately $4,246,028.80. The disclosure for this sale can be found here. In the last three months, insiders have sold 30,289 shares of company stock worth $4,510,615. 3.00% of the stock is owned by insiders.

A number of hedge funds and other institutional investors have recently made changes to their positions in the business. FMR LLC lifted its stake in bluebird bio by 1.0% during the 4th quarter. FMR LLC now owns 8,204,161 shares of the biotechnology company’s stock valued at $813,853,000 after acquiring an additional 80,474 shares during the period. Vanguard Group Inc lifted its stake in bluebird bio by 10.1% during the 3rd quarter. Vanguard Group Inc now owns 4,619,413 shares of the biotechnology company’s stock valued at $674,435,000 after acquiring an additional 422,866 shares during the period. Vanguard Group Inc. lifted its stake in bluebird bio by 10.1% during the 3rd quarter. Vanguard Group Inc. now owns 4,619,413 shares of the biotechnology company’s stock valued at $674,435,000 after acquiring an additional 422,866 shares during the period. BlackRock Inc. lifted its stake in bluebird bio by 1.2% during the 4th quarter. BlackRock Inc. now owns 2,986,142 shares of the biotechnology company’s stock valued at $296,223,000 after acquiring an additional 34,053 shares during the period. Finally, First Trust Advisors LP lifted its stake in bluebird bio by 24.3% during the 4th quarter. First Trust Advisors LP now owns 747,929 shares of the biotechnology company’s stock valued at $74,195,000 after acquiring an additional 146,046 shares during the period.

About bluebird bio

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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