Peregrine Capital Management LLC reduced its stake in bluebird bio Inc (NASDAQ:BLUE) by 34.8% during the 2nd quarter, Holdings Channel reports. The institutional investor owned 86,509 shares of the biotechnology company’s stock after selling 46,245 shares during the period. Peregrine Capital Management LLC’s holdings in bluebird bio were worth $5,281,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. Clearbridge Investments LLC raised its holdings in bluebird bio by 36.7% in the 1st quarter. Clearbridge Investments LLC now owns 908 shares of the biotechnology company’s stock valued at $42,000 after buying an additional 244 shares during the period. Harel Insurance Investments & Financial Services Ltd. purchased a new stake in bluebird bio during the second quarter worth about $61,000. Harbor Investment Advisory LLC increased its stake in bluebird bio by 69.7% during the first quarter. Harbor Investment Advisory LLC now owns 1,188 shares of the biotechnology company’s stock worth $55,000 after purchasing an additional 488 shares during the period. NuWave Investment Management LLC increased its stake in bluebird bio by 174.6% during the first quarter. NuWave Investment Management LLC now owns 1,538 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 978 shares during the period. Finally, Nisa Investment Advisors LLC increased its stake in bluebird bio by 63.2% during the first quarter. Nisa Investment Advisors LLC now owns 1,860 shares of the biotechnology company’s stock worth $85,000 after purchasing an additional 720 shares during the period.
A number of analysts have issued reports on the stock. BidaskClub upgraded shares of bluebird bio from a “sell” rating to a “hold” rating in a research note on Friday, July 10th. Barclays reiterated a “buy” rating on shares of bluebird bio in a research note on Wednesday, May 13th. Zacks Investment Research raised bluebird bio from a “hold” rating to a “buy” rating and set a $65.00 price target on the stock in a research note on Tuesday, April 28th. Piper Sandler decreased their price target on bluebird bio from $75.00 to $70.00 and set a “neutral” rating on the stock in a research note on Monday, May 11th. Finally, SVB Leerink lifted their price objective on bluebird bio from $129.00 to $133.00 and gave the company an “outperform” rating in a research note on Friday, June 12th. Five analysts have rated the stock with a hold rating, fifteen have issued a buy rating and one has assigned a strong buy rating to the stock. The stock has an average rating of “Buy” and a consensus price target of $104.71.
In other bluebird bio news, CEO Nick Leschly sold 443 shares of the business’s stock in a transaction dated Thursday, July 2nd. The stock was sold at an average price of $61.57, for a total value of $27,275.51. Following the transaction, the chief executive officer now owns 99,904 shares in the company, valued at $6,151,089.28. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Kory James Wentworth sold 596 shares of the company’s stock in a transaction dated Monday, July 20th. The stock was sold at an average price of $66.38, for a total value of $39,562.48. Following the sale, the insider now owns 9,594 shares of the company’s stock, valued at approximately $636,849.72. The disclosure for this sale can be found here. Insiders sold 1,716 shares of company stock worth $110,272 in the last 90 days. Corporate insiders own 3.60% of the company’s stock.
Shares of NASDAQ BLUE opened at $60.70 on Friday. The business’s 50-day moving average price is $63.48 and its two-hundred day moving average price is $65.64. The company has a debt-to-equity ratio of 0.16, a current ratio of 5.25 and a quick ratio of 5.25. bluebird bio Inc has a one year low of $38.95 and a one year high of $136.00. The company has a market capitalization of $3.38 billion, a P/E ratio of -4.06 and a beta of 2.37.
bluebird bio (NASDAQ:BLUE) last issued its earnings results on Monday, May 11th. The biotechnology company reported ($3.64) EPS for the quarter, beating analysts’ consensus estimates of ($4.05) by $0.41. bluebird bio had a negative return on equity of 60.05% and a negative net margin of 1,531.04%. The firm had revenue of $21.90 million for the quarter, compared to the consensus estimate of $8.00 million. During the same quarter in the previous year, the company posted ($2.99) earnings per share. The business’s quarterly revenue was up 75.2% compared to the same quarter last year. On average, equities analysts anticipate that bluebird bio Inc will post -12.12 EPS for the current year.
bluebird bio Company Profile
bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates in severe genetic diseases include LentiGlobin, which is in various clinical studies for the treatment of transfusion-dependent ß-thalassemia and severe sickle cell disease; and Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder.
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