bluebird bio, Inc. (BLUE) Sees Large Decrease in Short Interest

bluebird bio, Inc. (NASDAQ:BLUE) was the target of a large drop in short interest in the month of September. As of September 29th, there was short interest totalling 4,357,142 shares, a drop of 43.9% from the September 15th total of 7,761,150 shares. Based on an average daily trading volume, of 777,180 shares, the days-to-cover ratio is currently 5.6 days. Approximately 9.7% of the shares of the stock are short sold.

Shares of bluebird bio (NASDAQ BLUE) opened at 130.20 on Friday. The company’s market capitalization is $5.94 billion. bluebird bio has a 1-year low of $37.05 and a 1-year high of $143.50. The firm has a 50-day moving average of $125.54 and a 200 day moving average of $101.98.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Wednesday, August 2nd. The biotechnology company reported ($1.73) EPS for the quarter, missing the Thomson Reuters’ consensus estimate of ($1.66) by ($0.07). The business had revenue of $16.70 million for the quarter, compared to the consensus estimate of $6.29 million. bluebird bio had a negative net margin of 1,080.59% and a negative return on equity of 32.19%. bluebird bio’s revenue for the quarter was up 977.4% compared to the same quarter last year. During the same quarter last year, the business earned ($1.59) EPS. On average, analysts anticipate that bluebird bio will post ($6.79) EPS for the current year.

BLUE has been the topic of several recent research reports. Evercore ISI initiated coverage on bluebird bio in a research report on Wednesday, August 16th. They issued an “in-line” rating and a $102.00 price target on the stock. Maxim Group reiterated a “buy” rating and set a $170.00 target price (up from $100.00) on shares of bluebird bio in a report on Monday. Barclays PLC began coverage on bluebird bio in a report on Wednesday, September 6th. They issued an “overweight” rating and a $151.00 price target on the stock. Wedbush restated an “outperform” rating and issued a $135.00 price target (up from $121.00) on shares of bluebird bio in a report on Friday, September 1st. Finally, BTIG Research lowered bluebird bio from a “buy” rating to a “neutral” rating and boosted their price target for the company from $37.05 to $108.25 in a report on Friday, June 30th. Three investment analysts have rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company’s stock. bluebird bio presently has a consensus rating of “Hold” and a consensus target price of $118.81.

In other news, insider David Davidson sold 4,000 shares of bluebird bio stock in a transaction on Monday, October 2nd. The stock was sold at an average price of $131.31, for a total value of $525,240.00. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Eric Sullivan sold 861 shares of bluebird bio stock in a transaction on Friday, August 4th. The shares were sold at an average price of $93.83, for a total value of $80,787.63. Following the completion of the sale, the insider now directly owns 5,924 shares of the company’s stock, valued at $555,848.92. The disclosure for this sale can be found here. Insiders have sold a total of 131,779 shares of company stock valued at $16,038,514 in the last 90 days. 3.90% of the stock is owned by corporate insiders.

Institutional investors and hedge funds have recently made changes to their positions in the stock. Great West Life Assurance Co. Can increased its position in bluebird bio by 28.5% during the 1st quarter. Great West Life Assurance Co. Can now owns 4,509 shares of the biotechnology company’s stock valued at $409,000 after purchasing an additional 1,000 shares during the period. Bank of New York Mellon Corp grew its position in shares of bluebird bio by 10.7% in the 1st quarter. Bank of New York Mellon Corp now owns 228,663 shares of the biotechnology company’s stock worth $20,787,000 after buying an additional 22,011 shares during the last quarter. Karp Capital Management Corp purchased a new position in shares of bluebird bio in the 1st quarter worth approximately $410,000. Parametric Portfolio Associates LLC grew its position in shares of bluebird bio by 11.5% in the 1st quarter. Parametric Portfolio Associates LLC now owns 22,743 shares of the biotechnology company’s stock worth $2,067,000 after buying an additional 2,338 shares during the last quarter. Finally, American International Group Inc. grew its position in shares of bluebird bio by 15.7% in the 1st quarter. American International Group Inc. now owns 24,650 shares of the biotechnology company’s stock worth $2,241,000 after buying an additional 3,346 shares during the last quarter.

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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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