Franklin Resources Inc. raised its holdings in shares of bluebird bio Inc (NASDAQ:BLUE) by 41.3% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 686,900 shares of the biotechnology company’s stock after buying an additional 200,900 shares during the period. Franklin Resources Inc. owned about 1.40% of bluebird bio worth $122,337,000 at the end of the most recent quarter.
Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. increased its stake in shares of bluebird bio by 2,110.3% in the fourth quarter. Meeder Asset Management Inc. now owns 641 shares of the biotechnology company’s stock worth $114,000 after purchasing an additional 612 shares in the last quarter. NuWave Investment Management LLC purchased a new stake in shares of bluebird bio in the fourth quarter worth $135,000. Ladenburg Thalmann Financial Services Inc. increased its stake in shares of bluebird bio by 454.2% in the third quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock worth $136,000 after purchasing an additional 813 shares in the last quarter. Biondo Investment Advisors LLC purchased a new stake in shares of bluebird bio in the third quarter worth $203,000. Finally, Raymond James Financial Services Advisors Inc. purchased a new stake in shares of bluebird bio in the second quarter worth $211,000.
In other bluebird bio news, insider David Davidson sold 3,522 shares of the stock in a transaction on Monday, January 8th. The shares were sold at an average price of $173.61, for a total transaction of $611,454.42. Following the completion of the transaction, the insider now owns 13,959 shares in the company, valued at $2,423,421.99. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO Nick Leschly sold 5,435 shares of the stock in a transaction on Friday, January 5th. The shares were sold at an average price of $173.38, for a total transaction of $942,320.30. Following the transaction, the chief executive officer now owns 171,009 shares of the company’s stock, valued at approximately $29,649,540.42. The disclosure for this sale can be found here. Insiders have sold 64,598 shares of company stock valued at $12,370,309 in the last quarter. 3.90% of the stock is owned by company insiders.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, February 21st. The biotechnology company reported ($2.52) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.68) by ($0.84). bluebird bio had a negative net margin of 947.42% and a negative return on equity of 28.09%. The business had revenue of $4.17 million for the quarter, compared to the consensus estimate of $7.11 million. During the same quarter last year, the business earned ($1.88) EPS. bluebird bio’s revenue for the quarter was up 169.0% compared to the same quarter last year. analysts expect that bluebird bio Inc will post -8.25 earnings per share for the current year.
BLUE has been the subject of a number of analyst reports. 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. BidaskClub cut shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research note on Tuesday, January 16th. Cantor Fitzgerald dropped their target price on shares of bluebird bio from $122.00 to $113.00 and set an “underweight” rating for the company in a research report on Thursday, February 22nd. Canaccord Genuity started coverage on shares of bluebird bio in a research report on Tuesday, December 5th. They set a “buy” rating and a $202.00 target price for the company. Finally, Leerink Swann lowered shares of bluebird bio from an “outperform” rating to a “market perform” rating and upped their target price for the stock from $162.00 to $194.00 in a research report on Thursday, January 25th. Three research analysts have rated the stock with a sell rating, eight have assigned a hold rating, thirteen have issued a buy rating and one has issued a strong buy rating to the company. The stock has an average rating of “Hold” and a consensus target price of $187.60.
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).
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