SVB Leerink Lowers bluebird bio (NASDAQ:BLUE) Price Target to $8.00

bluebird bio (NASDAQ:BLUEGet Rating) had its target price decreased by SVB Leerink from $9.00 to $8.00 in a report issued on Monday morning, Benzinga reports. SVB Leerink currently has a market perform rating on the biotechnology company’s stock.

Several other research firms have also issued reports on BLUE. Royal Bank of Canada lowered their price target on shares of bluebird bio to $8.00 and set a sector perform rating for the company in a report on Tuesday, November 8th. StockNews.com began coverage on shares of bluebird bio in a research note on Wednesday, October 12th. They issued a sell rating for the company. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and one has issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Hold and a consensus target price of $6.63.

bluebird bio Stock Performance

bluebird bio stock opened at $6.19 on Monday. bluebird bio has a 52-week low of $2.87 and a 52-week high of $8.58. The firm has a 50 day moving average price of $7.42 and a two-hundred day moving average price of $6.51. The firm has a market cap of $513.29 million, a price-to-earnings ratio of -1.01 and a beta of 0.99.

bluebird bio (NASDAQ:BLUEGet Rating) last released its quarterly earnings results on Monday, November 7th. The biotechnology company reported ($0.92) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.28) by $0.36. bluebird bio had a negative net margin of 8,828.28% and a negative return on equity of 173.58%. The firm had revenue of $0.07 million during the quarter, compared to analyst estimates of $2.25 million. As a group, equities research analysts predict that bluebird bio will post -4.36 EPS for the current fiscal year.

Insider Activity at bluebird bio

In related news, Director Nick Leschly sold 4,290 shares of bluebird bio stock in a transaction on Wednesday, January 11th. The shares were sold at an average price of $7.80, for a total value of $33,462.00. Following the completion of the sale, the director now owns 280,149 shares of the company’s stock, valued at approximately $2,185,162.20. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. In the last 90 days, insiders sold 9,506 shares of company stock valued at $72,088. 2.20% of the stock is owned by company insiders.

Institutional Trading of bluebird bio

Several hedge funds have recently bought and sold shares of the business. Hennion & Walsh Asset Management Inc. grew its position in bluebird bio by 11.1% in the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 103,139 shares of the biotechnology company’s stock valued at $714,000 after purchasing an additional 10,282 shares during the period. Bank of New York Mellon Corp boosted its holdings in bluebird bio by 8.6% during the 3rd quarter. Bank of New York Mellon Corp now owns 323,492 shares of the biotechnology company’s stock worth $2,047,000 after acquiring an additional 25,580 shares during the last quarter. Captrust Financial Advisors boosted its holdings in bluebird bio by 22.5% during the 3rd quarter. Captrust Financial Advisors now owns 14,679 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 2,700 shares during the last quarter. Balyasny Asset Management LLC boosted its holdings in bluebird bio by 30.0% during the 3rd quarter. Balyasny Asset Management LLC now owns 118,333 shares of the biotechnology company’s stock worth $749,000 after acquiring an additional 27,305 shares during the last quarter. Finally, Kingsview Wealth Management LLC purchased a new position in bluebird bio during the 3rd quarter worth $95,000. Institutional investors and hedge funds own 79.01% of the company’s stock.

About bluebird bio

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bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes transformative gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include betibeglogene autotemcel for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and elivaldogene autotemcel to treat cerebral adrenoleukodystrophy.

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