bluebird bio, Inc. (NASDAQ:BLUE – Get Free Report) saw a large increase in short interest in July. As of July 31st, there was short interest totalling 28,840,000 shares, an increase of 13.7% from the July 15th total of 25,360,000 shares. Based on an average trading volume of 4,350,000 shares, the days-to-cover ratio is presently 6.6 days.
Analyst Upgrades and Downgrades
BLUE has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. started coverage on bluebird bio in a report on Friday, April 28th. They set an “overweight” rating and a $7.00 price objective on the stock. Wedbush reiterated a “neutral” rating and issued a $7.00 target price on shares of bluebird bio in a research note on Tuesday, August 8th. Bank of America raised bluebird bio from a “neutral” rating to a “buy” rating and increased their target price for the stock from $6.00 to $10.00 in a report on Wednesday, July 19th. Barclays upgraded bluebird bio from an “equal weight” rating to an “overweight” rating and boosted their price objective for the company from $7.00 to $8.00 in a research report on Thursday, June 1st. Finally, StockNews.com started coverage on bluebird bio in a report on Thursday, May 18th. They issued a “sell” rating for the company. Three investment analysts have rated the stock with a sell rating, four have issued a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $7.40.
View Our Latest Report on bluebird bio
bluebird bio Price Performance
bluebird bio (NASDAQ:BLUE – Get Free Report) last announced its quarterly earnings results on Tuesday, August 8th. The biotechnology company reported ($0.67) EPS for the quarter, beating analysts’ consensus estimates of ($0.72) by $0.05. bluebird bio had a negative net margin of 1,020.37% and a negative return on equity of 37.89%. The business had revenue of $6.90 million for the quarter, compared to analyst estimates of $11.30 million. During the same quarter in the prior year, the business earned ($1.29) EPS. bluebird bio’s quarterly revenue was up 360.0% on a year-over-year basis. On average, analysts anticipate that bluebird bio will post -2.08 earnings per share for the current fiscal year.
Insider Buying and Selling at bluebird bio
In related news, CEO Andrew Obenshain sold 16,929 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The stock was sold at an average price of $3.54, for a total transaction of $59,928.66. Following the completion of the sale, the chief executive officer now owns 291,941 shares in the company, valued at $1,033,471.14. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 2.10% of the stock is currently owned by corporate insiders.
Hedge Funds Weigh In On bluebird bio
Large investors have recently modified their holdings of the business. Arizona State Retirement System lifted its position in shares of bluebird bio by 37.0% during the first quarter. Arizona State Retirement System now owns 29,822 shares of the biotechnology company’s stock valued at $95,000 after purchasing an additional 8,060 shares in the last quarter. TrinityPoint Wealth LLC purchased a new stake in shares of bluebird bio in the 4th quarter valued at $138,000. Granahan Investment Management LLC raised its holdings in bluebird bio by 20.4% during the 4th quarter. Granahan Investment Management LLC now owns 709,529 shares of the biotechnology company’s stock valued at $4,910,000 after buying an additional 120,446 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in bluebird bio in the 4th quarter worth $95,000. Finally, Swiss National Bank bought a new stake in shares of bluebird bio during the 4th quarter valued at about $1,289,000. Institutional investors own 92.63% of the company’s stock.
About bluebird bio
bluebird bio, Inc is a clinical-stage biotechnology company, which engages in researching, developing and commercializing potentially transformative gene therapies for severe genetic diseases. It also offers ZYNTEGLO or beti-cel and SKYSONA or eli-cel gene therapies. The company was founded by Philippe Leboulch and Ronald C.
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