Summit X LLC Buys 30,736 Shares of bluebird bio, Inc. (NASDAQ:BLUE)

Summit X LLC increased its stake in shares of bluebird bio, Inc. (NASDAQ:BLUE) by 16.0% in the second quarter, Holdings Channel.com reports. The fund owned 222,445 shares of the biotechnology company’s stock after purchasing an additional 30,736 shares during the period. Summit X LLC’s holdings in bluebird bio were worth $732,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. The Manufacturers Life Insurance Company boosted its holdings in shares of bluebird bio by 6.2% during the 4th quarter. The Manufacturers Life Insurance Company now owns 31,773 shares of the biotechnology company’s stock valued at $220,000 after purchasing an additional 1,862 shares during the last quarter. Mariner LLC lifted its position in shares of bluebird bio by 12.8% in the fourth quarter. Mariner LLC now owns 17,972 shares of the biotechnology company’s stock worth $124,000 after buying an additional 2,043 shares in the last quarter. American International Group Inc. boosted its stake in bluebird bio by 7.1% during the fourth quarter. American International Group Inc. now owns 39,274 shares of the biotechnology company’s stock valued at $272,000 after buying an additional 2,609 shares during the last quarter. Captrust Financial Advisors grew 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 valued at $93,000 after buying an additional 2,700 shares in the last quarter. Finally, Advisors Asset Management Inc. increased its stake in bluebird bio by 18.9% in the 1st quarter. Advisors Asset Management Inc. now owns 20,701 shares of the biotechnology company’s stock worth $66,000 after acquiring an additional 3,296 shares during the last quarter. 87.43% of the stock is owned by hedge funds and other institutional investors.

bluebird bio Trading Up 8.3 %

Shares of NASDAQ BLUE opened at $3.27 on Wednesday. The business’s 50 day moving average price is $3.10 and its 200-day moving average price is $3.49. bluebird bio, Inc. has a fifty-two week low of $2.52 and a fifty-two week high of $8.58.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Tuesday, November 7th. The biotechnology company reported ($0.66) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($0.69) by $0.03. The firm had revenue of $12.40 million during the quarter, compared to analyst estimates of $13.56 million. bluebird bio had a negative net margin of 419.64% and a negative return on equity of 34.32%. The business’s revenue was up 17364.8% on a year-over-year basis. During the same period in the previous year, the firm earned ($0.92) earnings per share. Analysts forecast that bluebird bio, Inc. will post -1.83 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts have recently commented on the company. Cantor Fitzgerald began coverage on bluebird bio in a research report on Tuesday, October 17th. They set a “neutral” rating for the company. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target (down previously from $7.00) on shares of bluebird bio in a report on Tuesday, November 7th. HSBC began coverage on bluebird bio in a research note on Wednesday, September 6th. They set a “buy” rating and a $4.21 price objective on the stock. Raymond James raised their price objective on bluebird bio from $10.00 to $13.00 and gave the company an “outperform” rating in a research note on Wednesday, November 8th. Finally, StockNews.com initiated coverage on bluebird bio in a report on Thursday, October 5th. They issued a “sell” rating for the company. Two investment analysts have rated the stock with a sell rating, five have issued a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, bluebird bio presently has a consensus rating of “Hold” and an average price target of $7.62.

About bluebird bio

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