bluebird bio (BLUE) Shares Down 2.5% Following Insider Selling

bluebird bio, Inc. (NASDAQ:BLUE) shares dropped 2.5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $161.45 and last traded at $166.40. Approximately 283,447 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 826,436 shares. The stock had previously closed at $162.30.

Specifically, insider Philip D. Gregory sold 2,250 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $172.54, for a total transaction of $388,215.00. Following the completion of the sale, the insider now directly owns 28,734 shares of the company’s stock, valued at $4,957,764.36. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, insider Jeffrey T. Walsh sold 4,900 shares of the stock in a transaction that occurred on Monday, September 11th. The shares were sold at an average price of $125.73, for a total transaction of $616,077.00. Following the sale, the insider now directly owns 32,205 shares of the company’s stock, valued at $4,049,134.65. The disclosure for this sale can be found here. Over the last three months, insiders have sold 110,450 shares of company stock valued at $15,790,373. Company insiders own 3.90% of the company’s stock.

BLUE has been the subject of several recent research reports. Evercore ISI initiated coverage on shares of bluebird bio in a research note on Wednesday, August 16th. They set an “in-line” rating and a $102.00 target price for the company. Maxim Group reissued a “buy” rating and set a $170.00 target price (up from $100.00) on shares of bluebird bio in a research note on Monday, October 9th. Barclays initiated coverage on shares of bluebird bio in a research note on Wednesday, September 6th. They set an “overweight” rating and a $151.00 target price for the company. Wedbush reissued an “outperform” rating and set a $135.00 target price (up from $121.00) on shares of bluebird bio in a research note on Friday, September 1st. Finally, Leerink Swann reissued an “outperform” rating and set a $162.00 target price (up from $145.00) on shares of bluebird bio in a research note on Wednesday, November 1st. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have issued a buy rating to the stock. The stock presently has a consensus rating of “Buy” and a consensus target price of $137.57.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Wednesday, November 1st. The biotechnology company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by ($0.05). The firm had revenue of $7.71 million during the quarter, compared to analysts’ expectations of $8.47 million. bluebird bio had a negative net margin of 883.18% and a negative return on equity of 28.79%. The firm’s revenue was up 397.4% compared to the same quarter last year. During the same quarter last year, the company posted ($2.07) EPS. analysts expect that bluebird bio, Inc. will post -6.68 earnings per share for the current year.

Institutional investors have recently added to or reduced their stakes in the business. QS Investors LLC increased its stake in bluebird bio by 70.7% in the 2nd quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 500 shares during the period. Ladenburg Thalmann Financial Services Inc. increased its stake in bluebird bio by 454.2% in the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 813 shares during the period. Bank of Montreal Can increased its stake in bluebird bio by 118.9% in the 2nd quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 911 shares during the period. Turner Investments LLC acquired a new position in bluebird bio in the 2nd quarter valued at approximately $184,000. Finally, Biondo Investment Advisors LLC acquired a new position in bluebird bio in the 3rd quarter valued at approximately $203,000.

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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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