bluebird bio (NASDAQ:BLUE) Announces Quarterly Earnings Results
bluebird bio (NASDAQ:BLUE – Get Rating) posted its earnings results on Friday. The biotechnology company reported ($2.14) earnings per share for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.76) by ($0.38), Briefing.com reports. bluebird bio had a negative net margin of 1,610.78% and a negative return on equity of 76.93%. The company had revenue of $1.61 million for the quarter, compared to the consensus estimate of $5.72 million. During the same quarter last year, the business earned ($3.01) earnings per share.
BLUE stock traded down $0.21 during trading on Friday, reaching $5.00. 1,591,225 shares of the stock were exchanged, compared to its average volume of 1,715,610. The stock has a 50 day simple moving average of $7.71 and a 200-day simple moving average of $13.10. The company has a market capitalization of $350.55 million, a P/E ratio of -0.42 and a beta of 1.62. bluebird bio has a twelve month low of $4.97 and a twelve month high of $35.59.
In other bluebird bio news, CEO Andrew Obenshain sold 3,042 shares of bluebird bio stock in a transaction that occurred on Monday, January 10th. The stock was sold at an average price of $9.36, for a total transaction of $28,473.12. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CAO Jessica Whitten sold 2,984 shares of bluebird bio stock in a transaction that occurred on Wednesday, January 5th. The shares were sold at an average price of $10.44, for a total value of $31,152.96. The disclosure for this sale can be found here. Insiders have sold 10,941 shares of company stock worth $106,476 over the last ninety days. Company insiders own 2.90% of the company’s stock.
Several large investors have recently bought and sold shares of BLUE. Morgan Stanley raised its stake in shares of bluebird bio by 70.7% in the second quarter. Morgan Stanley now owns 684,780 shares of the biotechnology company’s stock valued at $21,899,000 after acquiring an additional 283,517 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of bluebird bio by 5.9% in the third quarter. Bank of New York Mellon Corp now owns 333,456 shares of the biotechnology company’s stock valued at $6,372,000 after acquiring an additional 18,500 shares during the last quarter. Charles Schwab Investment Management Inc. raised its stake in shares of bluebird bio by 4.3% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 177,033 shares of the biotechnology company’s stock valued at $1,769,000 after acquiring an additional 7,274 shares during the last quarter. Geode Capital Management LLC raised its stake in shares of bluebird bio by 6.1% in the fourth quarter. Geode Capital Management LLC now owns 1,237,612 shares of the biotechnology company’s stock valued at $12,363,000 after acquiring an additional 71,197 shares during the last quarter. Finally, Goldman Sachs Group Inc. raised its position in bluebird bio by 1.1% in the 4th quarter. Goldman Sachs Group Inc. now owns 1,520,751 shares of the biotechnology company’s stock worth $15,192,000 after purchasing an additional 17,219 shares during the last quarter. Institutional investors own 89.49% of the company’s stock.
Several equities analysts have weighed in on the company. Wells Fargo & Company cut their target price on bluebird bio from $25.00 to $16.00 and set an “equal weight” rating on the stock in a report on Monday, November 8th. Morgan Stanley dropped their price objective on bluebird bio from $11.00 to $10.00 and set an “underweight” rating on the stock in a research note on Thursday, January 6th. dropped their price objective on bluebird bio from $20.00 to $15.00 and set a “hold” rating on the stock in a research note on Monday, November 8th. Zacks Investment Research upgraded bluebird bio from a “hold” rating to a “buy” rating and set a $12.00 price objective on the stock in a research note on Monday, December 27th. Finally, Wedbush dropped their price objective on bluebird bio from $22.00 to $11.00 and set a “neutral” rating on the stock in a research note on Monday, November 8th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating, three have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, bluebird bio has an average rating of “Hold” and an average price target of $16.20.
About bluebird bio (Get Rating)
bluebird bio, Inc is a clinical-stage biotechnology company, which engages in the development of potential gene therapies for severe genetic diseases and cancer. Its integrated product platform includes gene therapy, cancer immunotherapy and gene editing. Its product pipeline includes Lenti-D, LentiGlobin, BCL11a shRNA, bb2121, and bb21217.
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