Prudential Financial Inc. increased its holdings in shares of bluebird bio Inc (NASDAQ:BLUE) by 14.3% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 2,630 shares of the biotechnology company’s stock after acquiring an additional 330 shares during the quarter. Prudential Financial Inc.’s holdings in bluebird bio were worth $261,000 as of its most recent SEC filing.
Other institutional investors have also modified their holdings of the company. Cornerstone Advisors Inc. increased its position in bluebird bio by 1,540.0% in the fourth quarter. Cornerstone Advisors Inc. now owns 328 shares of the biotechnology company’s stock worth $33,000 after buying an additional 308 shares during the last quarter. Exane Derivatives purchased a new stake in bluebird bio in the fourth quarter worth $34,000. Belpointe Asset Management LLC purchased a new stake in bluebird bio in the third quarter worth $110,000. NuWave Investment Management LLC increased its position in bluebird bio by 14.4% in the fourth quarter. NuWave Investment Management LLC now owns 1,123 shares of the biotechnology company’s stock worth $111,000 after buying an additional 141 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in bluebird bio in the third quarter worth $214,000.
In other bluebird bio news, insider Jason Cole sold 6,248 shares of the stock in a transaction on Monday, February 25th. The stock was sold at an average price of $150.24, for a total value of $938,699.52. Following the completion of the sale, the insider now owns 28,692 shares in the company, valued at approximately $4,310,686.08. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, insider David Davidson sold 6,360 shares of the stock in a transaction on Thursday, April 4th. The stock was sold at an average price of $160.06, for a total value of $1,017,981.60. Following the completion of the sale, the insider now owns 37,976 shares of the company’s stock, valued at approximately $6,078,438.56. The disclosure for this sale can be found here. Insiders have sold a total of 30,289 shares of company stock worth $4,510,615 in the last quarter. Company insiders own 3.00% of the company’s stock.
bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Thursday, February 21st. The biotechnology company reported ($2.72) EPS for the quarter, beating analysts’ consensus estimates of ($2.83) by $0.11. The business had revenue of $19.20 million during the quarter, compared to analyst estimates of $9.06 million. bluebird bio had a negative return on equity of 32.15% and a negative net margin of 1,018.02%. bluebird bio’s quarterly revenue was up 357.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted ($2.52) EPS. On average, analysts anticipate that bluebird bio Inc will post -11.62 earnings per share for the current fiscal year.
A number of analysts have issued reports on the company. Cantor Fitzgerald set a $122.00 target price on bluebird bio and gave the stock a “hold” rating in a research report on Friday, March 22nd. Svb Leerink downgraded bluebird bio from an “outperform” rating to a “market perform” rating in a research report on Tuesday, March 5th. Leerink Swann downgraded bluebird bio from an “outperform” rating to a “market perform” rating and set a $150.00 target price for the company. in a research report on Tuesday, March 5th. They noted that the move was a valuation call. ValuEngine upgraded bluebird bio from a “hold” rating to a “buy” rating in a research report on Friday, March 1st. Finally, Cowen assumed coverage on bluebird bio in a research report on Tuesday, February 26th. They issued an “outperform” rating and a $149.91 price target for the company. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating, fourteen have assigned a buy rating and one has given a strong buy rating to the stock. The stock currently has a consensus rating of “Buy” and an average target price of $168.12.
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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 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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