Principal Financial Group Inc. decreased its stake in shares of bluebird bio, Inc. (NASDAQ:BLUE) by 0.3% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 22,425 shares of the biotechnology company’s stock after selling 74 shares during the period. Principal Financial Group Inc. owned 0.05% of bluebird bio worth $2,038,000 as of its most recent SEC filing.
Several other hedge funds have also made changes to their positions in BLUE. Russell Investments Group Ltd. acquired a new stake in shares of bluebird bio during the fourth quarter valued at $1,477,000. Advisors Asset Management Inc. purchased a new position in bluebird bio during the first quarter worth approximately $858,000. Macquarie Group Ltd. purchased a new position in bluebird bio during the fourth quarter worth approximately $703,000. Alliancebernstein L.P. increased its position in bluebird bio by 50.1% in the first quarter. Alliancebernstein L.P. now owns 85,860 shares of the biotechnology company’s stock worth $7,805,000 after buying an additional 28,640 shares during the period. Finally, Karp Capital Management Corp purchased a new position in bluebird bio during the first quarter worth approximately $410,000.
bluebird bio, Inc. (NASDAQ:BLUE) opened at 97.00 on Thursday. bluebird bio, Inc. has a 52-week low of $37.05 and a 52-week high of $123.75. The firm’s 50-day moving average is $101.27 and its 200 day moving average is $89.07. The stock’s market capitalization is $4.42 billion.
bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.73) earnings per share (EPS) for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by $0.07. bluebird bio had a negative return on equity of 32.19% and a negative net margin of 1,080.59%. The company had revenue of $16.70 million for the quarter, compared to the consensus estimate of $6.29 million. During the same period in the prior year, the company earned ($1.59) EPS. The firm’s revenue was up 977.4% on a year-over-year basis. On average, equities analysts forecast that bluebird bio, Inc. will post ($6.71) earnings per share for the current year.
A number of equities analysts recently commented on the company. Cantor Fitzgerald set a $39.00 price target on bluebird bio and gave the stock a “sell” rating in a research note on Saturday, June 24th. Jefferies Group LLC reiterated a “buy” rating on shares of bluebird bio in a research note on Thursday, July 6th. Morgan Stanley reiterated a “hold” rating on shares of bluebird bio in a research note on Wednesday. BidaskClub upgraded bluebird bio from a “sell” rating to a “hold” rating in a research note on Wednesday. Finally, Sanford C. Bernstein assumed coverage on bluebird bio in a report on Thursday, July 27th. They set a “market perform” rating and a $109.00 price target on the stock. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating and eleven have assigned a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $100.66.
In other news, insider Philip D. Gregory sold 750 shares of the stock in a transaction on Monday, August 7th. The shares were sold at an average price of $99.00, for a total transaction of $74,250.00. Following the completion of the sale, the insider now owns 31,234 shares of the company’s stock, valued at $3,092,166. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Daniel Lynch sold 2,000 shares of the stock in a transaction on Thursday, May 25th. The stock was sold at an average price of $80.00, for a total transaction of $160,000.00. Following the sale, the director now directly owns 3,400 shares of the company’s stock, valued at approximately $272,000. The disclosure for this sale can be found here. Insiders have sold 77,856 shares of company stock valued at $8,093,145 in the last three months. 3.90% of the stock is owned by insiders.
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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