Shares of Bluebird Bio Inc. (NASDAQ:BLUE) were down 3.5% on Wednesday . The company traded as low as $69.84 and last traded at $71.22, with a volume of 716,656 shares traded. The stock had previously closed at $73.77.

A number of analysts recently weighed in on BLUE shares. Wedbush restated an “outperform” rating and issued a $117.00 target price on shares of Bluebird Bio in a research report on Wednesday, August 3rd. Goldman Sachs Group Inc. reiterated a “buy” rating and issued a $135.00 price objective on shares of Bluebird Bio in a research report on Thursday, September 8th. Leerink Swann reiterated a “buy” rating on shares of Bluebird Bio in a research report on Monday, June 13th. Piper Jaffray Cos. set a $95.00 price objective on Bluebird Bio and gave the company a “buy” rating in a research report on Thursday, September 8th. Finally, Vetr downgraded Bluebird Bio from a “strong-buy” rating to a “sell” rating and set a $44.44 price objective for the company. in a research report on Wednesday, June 8th. Six analysts have rated the stock with a hold rating, eleven have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Bluebird Bio currently has a consensus rating of “Buy” and an average target price of $87.39.

The firm has a 50 day moving average of $56.49 and a 200 day moving average of $47.92. The stock’s market cap is $2.74 billion.

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Bluebird Bio (NASDAQ:BLUE) last announced its earnings results on Wednesday, August 3rd. The company reported ($1.59) EPS for the quarter, missing the Zacks’ consensus estimate of ($1.44) by $0.15. The company earned $1.55 million during the quarter, compared to analysts’ expectations of $2.01 million. Bluebird Bio had a negative return on equity of 24.85% and a negative net margin of 3,512.13%. Bluebird Bio’s revenue for the quarter was down 68.6% compared to the same quarter last year. During the same quarter last year, the firm posted ($1.57) EPS. Equities analysts predict that Bluebird Bio Inc. will post ($6.16) EPS for the current year.

In other news, insider David Davidson sold 1,000 shares of Bluebird Bio stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $45.08, for a total value of $45,080.00. Following the completion of the transaction, the insider now owns 10,600 shares in the company, valued at approximately $477,848. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Eric Sullivan sold 2,807 shares of Bluebird Bio stock in a transaction that occurred on Wednesday, July 20th. The stock was sold at an average price of $45.04, for a total value of $126,427.28. Following the completion of the transaction, the insider now owns 4,656 shares of the company’s stock, valued at approximately $209,706.24. The disclosure for this sale can be found here. 3.50% of the stock is owned by insiders.

Institutional investors have recently made changes to their positions in the company. RTW Investments LLC bought a new position in shares of Bluebird Bio during the first quarter worth approximately $9,621,000. JPMorgan Chase & Co. raised its stake in shares of Bluebird Bio by 7.0% in the first quarter. JPMorgan Chase & Co. now owns 59,623 shares of the company’s stock worth $2,535,000 after buying an additional 3,906 shares in the last quarter. Clarius Group LLC acquired a new stake in shares of Bluebird Bio during the first quarter worth about $410,000. BlackRock Group LTD raised its stake in shares of Bluebird Bio by 11.2% in the first quarter. BlackRock Group LTD now owns 24,672 shares of the company’s stock worth $1,049,000 after buying an additional 2,493 shares in the last quarter. Finally, BlackRock Inc. raised its stake in shares of Bluebird Bio by 341.0% in the first quarter. BlackRock Inc. now owns 4,569 shares of the company’s stock worth $194,000 after buying an additional 3,533 shares in the last quarter.

Bluebird Bio Company Profile

bluebird bio, Inc is a biotechnology company. The Company is focused on developing transformative gene therapies for severe genetic and rare diseases and in the field of T cell-based immunotherapy. Its gene therapy clinical programs include LentiGlobin product candidate to treat transfusion-dependent B-thalassemia (TDT) and severe sickle cell disease (SCD), and Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD), a rare hereditary neurological disorder.

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