Alliancebernstein L.P. grew its position in bluebird bio Inc (NASDAQ:BLUE) by 16.3% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 92,370 shares of the biotechnology company’s stock after acquiring an additional 12,970 shares during the quarter. Alliancebernstein L.P. owned about 0.19% of bluebird bio worth $16,451,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently made changes to their positions in the company. BlackRock Inc. raised its stake in shares of bluebird bio by 6.4% in the fourth quarter. BlackRock Inc. now owns 3,831,371 shares of the biotechnology company’s stock valued at $682,366,000 after acquiring an additional 231,697 shares during the period. Orbimed Advisors LLC increased its stake in bluebird bio by 20.5% in the 3rd quarter. Orbimed Advisors LLC now owns 481,946 shares of the biotechnology company’s stock worth $66,195,000 after buying an additional 82,146 shares during the period. Geode Capital Management LLC increased its stake in bluebird bio by 9.0% in the 4th quarter. Geode Capital Management LLC now owns 454,997 shares of the biotechnology company’s stock worth $81,034,000 after buying an additional 37,588 shares during the period. Bank of New York Mellon Corp increased its stake in bluebird bio by 32.9% in the 4th quarter. Bank of New York Mellon Corp now owns 326,446 shares of the biotechnology company’s stock worth $58,141,000 after buying an additional 80,883 shares during the period. Finally, Schwab Charles Investment Management Inc. increased its stake in bluebird bio by 11.0% in the 4th quarter. Schwab Charles Investment Management Inc. now owns 296,073 shares of the biotechnology company’s stock worth $52,731,000 after buying an additional 29,380 shares during the period.
BLUE has been the topic of several recent analyst reports. Cantor Fitzgerald reduced their price target on shares of bluebird bio from $122.00 to $113.00 and set an “underweight” rating on the stock in a research note on Thursday, February 22nd. Morgan Stanley raised their price target on shares of bluebird bio from $152.00 to $209.00 and gave the stock an “equal weight” rating in a research note on Wednesday. William Blair initiated coverage on shares of bluebird bio in a research note on Monday, March 5th. They issued an “outperform” rating and a $242.00 price target on the stock. BidaskClub downgraded shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 16th. Finally, Jefferies Group raised shares of bluebird bio from a “hold” rating to a “buy” rating and raised their price target for the stock from $130.00 to $211.00 in a research note on Monday, December 11th. Three equities research analysts have rated the stock with a sell rating, ten have given a hold rating and thirteen have issued a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $195.20.
Shares of bluebird bio stock opened at $184.60 on Thursday. bluebird bio Inc has a 1-year low of $74.45 and a 1-year high of $236.17. The firm has a market cap of $9,744.29, a PE ratio of -24.10 and a beta of 2.06.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Wednesday, February 21st. The biotechnology company reported ($2.52) earnings per share for the quarter, missing analysts’ consensus estimates 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 firm had revenue of $4.17 million during the quarter, compared to the consensus estimate of $7.11 million. During the same quarter in the prior year, the business posted ($1.88) earnings per share. The firm’s quarterly revenue was up 169.0% on a year-over-year basis. equities analysts forecast that bluebird bio Inc will post -8.39 EPS for the current year.
In other news, insider Jason Cole sold 25,000 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $195.91, for a total value of $4,897,750.00. Following the sale, the insider now directly owns 44,798 shares in the company, valued at approximately $8,776,376.18. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO Susanna Gatti High sold 17,262 shares of the firm’s stock in a transaction dated Tuesday, January 30th. The shares were sold at an average price of $195.91, for a total transaction of $3,381,798.42. Following the completion of the sale, the chief operating officer now owns 28,512 shares in the company, valued at $5,585,785.92. The disclosure for this sale can be found here. Insiders sold a total of 70,598 shares of company stock worth $13,656,589 over the last 90 days. Company insiders own 3.90% of the company’s stock.
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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).
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