Renaissance Technologies LLC Reduces Stake in bluebird bio, Inc. (NASDAQ:BLUE)

Renaissance Technologies LLC reduced its position in bluebird bio, Inc. (NASDAQ:BLUE – Get Rating) by 73.1% during the third quarter, HoldingsChannel.com reports. The institutional investor owned 757,110 shares of the biotechnology company’s stock after selling 2,052,890 shares during the period. Renaissance Technologies LLC’s holdings in bluebird bio were worth $4,793,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Verition Fund Management LLC purchased a new position in bluebird bio during the third quarter valued at $233,000. Boothbay Fund Management LLC purchased a new position in bluebird bio during the third quarter valued at $518,000. Nuveen Asset Management LLC lifted its position in bluebird bio by 244.6% during the third quarter. Nuveen Asset Management LLC now owns 1,120,044 shares of the biotechnology company’s stock valued at $7,090,000 after purchasing an additional 794,995 shares in the last quarter. Metropolitan Life Insurance Co NY lifted its position in bluebird bio by 142.4% during the third quarter. Metropolitan Life Insurance Co NY now owns 4,671 shares of the biotechnology company’s stock valued at $30,000 after purchasing an additional 2,744 shares in the last quarter. Finally, E Fund Management Co. Ltd. purchased a new position in bluebird bio during the third quarter valued at $422,000. 79.01% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at bluebird bio

In other bluebird bio news, Director Nick Leschly sold 4,290 shares of the firm’s stock in a transaction dated Wednesday, January 11th. The stock was sold at an average price of $7.80, for a total transaction of $33,462.00. Following the sale, the director now directly owns 280,149 shares of the company’s stock, valued at $2,185,162.20. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders have sold a total of 8,025 shares of company stock valued at $62,595 over the last ninety days. 2.90% of the stock is currently owned by company insiders.

bluebird bio Stock Down 15.9 %

NASDAQ:BLUE opened at $4.17 on Monday. The business’s 50-day simple moving average is $6.22 and its two-hundred day simple moving average is $6.62. The stock has a market cap of $345.78 million, a PE ratio of -0.68 and a beta of 0.95. bluebird bio, Inc. has a 52 week low of $2.87 and a 52 week high of $8.58.

Wall Street Analyst Weigh In

Several research firms recently weighed in on BLUE. Robert W. Baird began coverage on bluebird bio in a research report on Monday, March 6th. They set an “outperform” rating and a $10.00 target price on the stock. Morgan Stanley lifted their target price on bluebird bio from $3.00 to $4.00 and gave the company an “underweight” rating in a research report on Tuesday, January 24th. Finally, SVB Leerink lowered their target price on bluebird bio from $9.00 to $8.00 and set a “market perform” rating on the stock in a research report on Monday, January 23rd. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $7.00.

About bluebird bio

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bluebird bio, Inc is a clinical-stage biotechnology company, which engages in the development of potential gene therapies for severe genetic diseases and cancer. Its integrated product platform includes gene therapy, cancer immunotherapy and gene editing. Its product pipeline includes Lenti-D, LentiGlobin, BCL11a shRNA, bb2121, and bb21217.