bluebird bio, Inc. (NASDAQ:BLUE)’s share price dropped 2.5% during trading on Tuesday after an insider sold shares in the company. The stock traded as low as $161.45 and last traded at $166.40. Approximately 283,447 shares traded hands during mid-day trading, a decline of 66% from the average daily volume of 826,436 shares. The stock had previously closed at $162.30.
Specifically, COO Susanna Gatti High sold 1,282 shares of bluebird bio stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $172.15, for a total transaction of $220,696.30. Following the completion of the transaction, the chief operating officer now directly owns 13,718 shares in the company, valued at approximately $2,361,553.70. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Philip D. Gregory sold 2,250 shares of bluebird bio stock in a transaction that occurred on Friday, December 1st. The stock was sold at an average price of $172.54, for a total value of $388,215.00. Following the transaction, the insider now owns 28,734 shares of the company’s stock, valued at $4,957,764.36. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 110,450 shares of company stock valued at $15,790,373. Insiders own 3.90% of the company’s stock.
Several research analysts recently issued reports on BLUE shares. Goldman Sachs Group restated a “buy” rating and set a $186.00 price objective on shares of bluebird bio in a research report on Friday, October 6th. Jefferies Group restated a “buy” rating and set a $88.00 price objective on shares of bluebird bio in a research report on Friday, August 11th. Maxim Group restated a “buy” rating and set a $170.00 price objective (up from $100.00) on shares of bluebird bio in a research report on Monday, October 9th. BMO Capital Markets lifted their price objective on bluebird bio from $134.00 to $162.00 and gave the stock a “buy” rating in a research report on Monday, October 30th. Finally, BTIG Research upgraded bluebird bio from a “neutral” rating to a “buy” rating and set a $177.00 price target for the company in a report on Thursday, November 2nd. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and fourteen have given a buy rating to the company’s stock. The stock currently has an average rating of “Buy” and an average price target of $137.57.
Hedge funds and other institutional investors have recently made changes to their positions in the company. Ladenburg Thalmann Financial Services Inc. grew its stake in shares of bluebird bio by 454.2% during the 3rd quarter. Ladenburg Thalmann Financial Services Inc. now owns 992 shares of the biotechnology company’s stock valued at $136,000 after buying an additional 813 shares during the period. QS Investors LLC grew its stake in shares of bluebird bio by 70.7% during the 2nd quarter. QS Investors LLC now owns 1,207 shares of the biotechnology company’s stock valued at $127,000 after buying an additional 500 shares during the period. Biondo Investment Advisors LLC purchased a new stake in shares of bluebird bio during the 3rd quarter valued at $203,000. World Asset Management Inc purchased a new stake in shares of bluebird bio during the 3rd quarter valued at $230,000. Finally, Bank of Montreal Can grew its stake in shares of bluebird bio by 118.9% during the 2nd quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock valued at $176,000 after buying an additional 911 shares during the period.
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bluebird bio Company Profile
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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