Morgan Stanley Reiterates “Hold” Rating for bluebird bio, Inc. (BLUE)

Morgan Stanley reaffirmed their hold rating on shares of bluebird bio, Inc. (NASDAQ:BLUE) in a report published on Wednesday, August 9th.

Several other equities research analysts also recently weighed in on the company. BTIG Research reiterated a buy rating on shares of bluebird bio in a report on Monday, May 1st. Cantor Fitzgerald set a $37.00 price target on bluebird bio and gave the stock a sell rating in a report on Monday, June 5th. Zacks Investment Research upgraded bluebird bio from a sell rating to a hold rating in a report on Monday, May 8th. Jefferies Group LLC restated a buy rating on shares of bluebird bio in a report on Thursday, July 6th. Finally, Maxim Group upgraded bluebird bio from a hold rating to a buy rating and set a $100.00 price objective on the stock in a report on Friday, June 2nd. Two analysts have rated the stock with a sell rating, nine have issued a hold rating and eleven have assigned a buy rating to the company. bluebird bio currently has an average rating of Hold and a consensus target price of $100.74.

Shares of bluebird bio (BLUE) traded down 0.86% during trading on Wednesday, reaching $92.45. The company’s stock had a trading volume of 497,130 shares. bluebird bio has a 12-month low of $37.05 and a 12-month high of $123.75. The company has a 50 day moving average of $96.49 and a 200-day moving average of $91.07. The stock’s market cap is $4.21 billion.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share for the quarter, missing the consensus estimate of ($1.66) by $0.07. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The business had revenue of $16.70 million during the quarter, compared to analysts’ expectations of $6.29 million. During the same quarter in the previous year, the company posted ($1.59) earnings per share. The company’s quarterly revenue was up 977.4% compared to the same quarter last year. Analysts forecast that bluebird bio will post ($6.78) EPS for the current year.

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In other news, insider David Davidson sold 1,000 shares of the firm’s stock in a transaction on Monday, June 5th. The stock was sold at an average price of $90.00, for a total value of $90,000.00. Following the completion of the sale, the insider now owns 18,177 shares of the company’s stock, valued at approximately $1,635,930. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Daniel Lynch sold 2,000 shares of the firm’s stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $80.00, for a total value of $160,000.00. Following the completion of the sale, the director now directly owns 3,400 shares of the company’s stock, valued at approximately $272,000. The disclosure for this sale can be found here. Insiders have sold a total of 80,106 shares of company stock worth $8,308,358 in the last ninety days. Insiders own 3.90% of the company’s stock.

Several hedge funds have recently bought and sold shares of BLUE. QS Investors LLC boosted its stake in bluebird bio by 70.7% in the second quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock worth $127,000 after buying an additional 500 shares during the last quarter. Bank of Montreal Can boosted its stake in bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after buying an additional 911 shares during the last quarter. Turner Investments LLC acquired a new stake in bluebird bio during the second quarter worth $184,000. SG Americas Securities LLC boosted its stake in bluebird bio by 17.9% in the second quarter. SG Americas Securities LLC now owns 1,945 shares of the biotechnology company’s stock worth $204,000 after buying an additional 295 shares during the last quarter. Finally, Fairfield Bush & CO. acquired a new stake in bluebird bio during the second quarter worth $210,000.

bluebird bio Company Profile

bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).

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