Investment analysts at CIBC began coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note issued on Thursday. The firm set a “market perform” rating on the biotechnology company’s stock.
BLUE has been the topic of several other reports. Morgan Stanley raised shares of bluebird bio from an “underweight” rating to an “equal weight” rating in a research note on Friday, November 3rd. Evercore ISI raised shares of bluebird bio from an “in-line” rating to an “outperform” rating and set a $102.00 price objective on the stock in a research note on Monday, October 16th. Maxim Group set a $170.00 price objective on shares of bluebird bio and gave the stock a “buy” rating in a research note on Friday, November 17th. Goldman Sachs Group reaffirmed a “buy” rating and set a $186.00 price objective on shares of bluebird bio in a research note on Friday, October 6th. Finally, Wells Fargo & Company reaffirmed an “outperform” rating and set a $158.00 price objective (up from $134.00) on shares of bluebird bio in a research note on Tuesday, September 5th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have given a buy rating to the company’s stock. The company presently has a consensus rating of “Hold” and a consensus price target of $157.45.
bluebird bio (BLUE) traded up $3.15 during midday trading on Thursday, reaching $185.25. 397,500 shares of the company were exchanged, compared to its average volume of 867,129. bluebird bio has a twelve month low of $60.95 and a twelve month high of $222.03.
In related news, CEO Nick Leschly sold 10,823 shares of the stock in a transaction that occurred on Tuesday, October 17th. The shares were sold at an average price of $145.05, for a total value of $1,569,876.15. Following the transaction, the chief executive officer now directly owns 262,409 shares in the company, valued at $38,062,425.45. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO Susanna Gatti High sold 1,282 shares of the stock in a transaction that occurred on Friday, December 1st. The shares were sold at an average price of $172.15, for a total transaction of $220,696.30. Following the completion of the transaction, the chief operating officer now owns 13,718 shares in the company, valued at $2,361,553.70. The disclosure for this sale can be found here. Insiders sold 215,082 shares of company stock worth $37,227,332 over the last 90 days. 3.90% of the stock is currently owned by company insiders.
A number of institutional investors and hedge funds have recently bought and sold shares of BLUE. Bank of Montreal Can raised its holdings 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 purchasing an additional 911 shares during the period. Aperio Group LLC raised its holdings in bluebird bio by 10.9% in the second quarter. Aperio Group LLC now owns 5,001 shares of the biotechnology company’s stock worth $525,000 after purchasing an additional 491 shares during the period. Russell Investments Group Ltd. raised its holdings in bluebird bio by 15.0% in the second quarter. Russell Investments Group Ltd. now owns 38,882 shares of the biotechnology company’s stock worth $4,084,000 after purchasing an additional 5,059 shares during the period. Schwab Charles Investment Management Inc. raised its holdings in bluebird bio by 3.4% in the second quarter. Schwab Charles Investment Management Inc. now owns 175,532 shares of the biotechnology company’s stock worth $18,440,000 after purchasing an additional 5,693 shares during the period. Finally, First Trust Advisors LP acquired a new stake in bluebird bio in the second quarter worth $2,363,000.
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About bluebird bio
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).
