Smith Asset Management Group LP cut its holdings in shares of bluebird bio (NASDAQ:BLUE) by 34.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 2,230 shares of the biotechnology company’s stock after selling 1,190 shares during the period. Smith Asset Management Group LP’s holdings in bluebird bio were worth $381,000 at the end of the most recent quarter.
A number of other hedge funds and other institutional investors have also added to or reduced their stakes in the stock. Schwab Charles Investment Management Inc. grew its position in bluebird bio by 12.3% during the 1st quarter. Schwab Charles Investment Management Inc. now owns 332,536 shares of the biotechnology company’s stock worth $56,781,000 after acquiring an additional 36,463 shares during the last quarter. State of Wisconsin Investment Board grew its position in bluebird bio by 11.9% during the 1st quarter. State of Wisconsin Investment Board now owns 49,270 shares of the biotechnology company’s stock worth $8,413,000 after acquiring an additional 5,238 shares during the last quarter. Swiss National Bank grew its position in bluebird bio by 3.9% during the 1st quarter. Swiss National Bank now owns 85,807 shares of the biotechnology company’s stock worth $14,652,000 after acquiring an additional 3,200 shares during the last quarter. State Board of Administration of Florida Retirement System grew its position in bluebird bio by 5.6% during the 1st quarter. State Board of Administration of Florida Retirement System now owns 27,124 shares of the biotechnology company’s stock worth $4,631,000 after acquiring an additional 1,434 shares during the last quarter. Finally, Tokio Marine Asset Management Co. Ltd. bought a new stake in bluebird bio during the 1st quarter worth approximately $1,759,000.
In other news, Director Mark Vachon sold 6,000 shares of the firm’s stock in a transaction on Thursday, March 15th. The stock was sold at an average price of $214.38, for a total value of $1,286,280.00. Following the transaction, the director now directly owns 7,000 shares in the company, valued at approximately $1,500,660. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider David Davidson sold 13,000 shares of the firm’s stock in a transaction on Wednesday, May 2nd. The stock was sold at an average price of $177.52, for a total value of $2,307,760.00. Following the completion of the transaction, the insider now owns 37,905 shares in the company, valued at $6,728,895.60. The disclosure for this sale can be found here. Insiders sold a total of 46,250 shares of company stock worth $8,269,990 over the last 90 days. 3.90% of the stock is owned by corporate insiders.
Shares of bluebird bio opened at $178.40 on Thursday, according to Marketbeat. bluebird bio has a 52 week low of $174.05 and a 52 week high of $177.50. The firm has a market capitalization of $8.75 billion, a price-to-earnings ratio of -23.14 and a beta of 2.17.
bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Monday, May 7th. The biotechnology company reported ($2.31) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($2.01) by ($0.30). bluebird bio had a negative return on equity of 27.61% and a negative net margin of 857.55%. The company had revenue of $15.96 million during the quarter, compared to the consensus estimate of $5.85 million. During the same quarter in the prior year, the business earned ($1.68) earnings per share. The firm’s revenue for the quarter was up 133.7% on a year-over-year basis. equities research analysts predict that bluebird bio will post -9.33 earnings per share for the current fiscal year.
BLUE has been the topic of a number of research analyst reports. Cantor Fitzgerald decreased their price target on bluebird bio from $122.00 to $113.00 and set an “underweight” rating on the stock in a research report on Thursday, February 22nd. ValuEngine upgraded bluebird bio from a “hold” rating to a “buy” rating in a research report on Monday, April 2nd. BTIG Research restated a “buy” rating on shares of bluebird bio in a research report on Thursday, May 3rd. BidaskClub lowered bluebird bio from a “hold” rating to a “sell” rating in a research report on Wednesday, April 4th. Finally, Sanford C. Bernstein restated a “market perform” rating and set a $211.00 price target on shares of bluebird bio in a research report on Monday, May 7th. Four investment analysts have rated the stock with a sell rating, nine have given a hold rating, twelve have assigned a buy rating and one has issued a strong buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $195.80.
About bluebird bio
bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.
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