First Light Asset Management LLC Decreases Position in bluebird bio Inc (BLUE)

First Light Asset Management LLC reduced its stake in bluebird bio Inc (NASDAQ:BLUE) by 32.8% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,416 shares of the biotechnology company’s stock after selling 12,422 shares during the period. bluebird bio accounts for 1.0% of First Light Asset Management LLC’s portfolio, making the stock its 29th largest position. First Light Asset Management LLC owned approximately 0.05% of bluebird bio worth $4,340,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds also recently added to or reduced their stakes in BLUE. Zurcher Kantonalbank Zurich Cantonalbank raised its stake in bluebird bio by 72.8% in the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,559 shares of the biotechnology company’s stock worth $456,000 after buying an additional 1,078 shares in the last quarter. Aperio Group LLC raised its stake in bluebird bio by 22.6% in the fourth quarter. Aperio Group LLC now owns 6,496 shares of the biotechnology company’s stock worth $1,157,000 after buying an additional 1,197 shares in the last quarter. CIBC Asset Management Inc bought a new position in bluebird bio in the fourth quarter worth about $247,000. Meeder Asset Management Inc. raised its stake in bluebird bio by 2,110.3% in the fourth quarter. Meeder Asset Management Inc. now owns 641 shares of the biotechnology company’s stock worth $114,000 after buying an additional 612 shares in the last quarter. Finally, Teacher Retirement System of Texas raised its stake in bluebird bio by 317.2% in the fourth quarter. Teacher Retirement System of Texas now owns 15,383 shares of the biotechnology company’s stock worth $2,740,000 after buying an additional 11,696 shares in the last quarter.

In other news, insider David Davidson sold 13,000 shares of the stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $187.84, for a total transaction of $2,441,920.00. Following the sale, the insider now owns 37,905 shares in the company, valued at $7,120,075.20. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, COO Susanna Gatti High sold 3,500 shares of the stock in a transaction that occurred on Monday, June 4th. The shares were sold at an average price of $199.11, for a total transaction of $696,885.00. Following the sale, the chief operating officer now owns 21,000 shares in the company, valued at approximately $4,181,310. The disclosure for this sale can be found here. In the last quarter, insiders have sold 60,500 shares of company stock worth $10,801,835. Corporate insiders own 3.00% of the company’s stock.

NASDAQ:BLUE opened at $192.15 on Thursday. bluebird bio Inc has a 52 week low of $85.65 and a 52 week high of $236.17. The company has a market cap of $9.02 billion, a PE ratio of -24.92 and a beta of 2.16.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Monday, May 7th. The biotechnology company reported ($2.31) EPS for the quarter, missing the Zacks’ consensus estimate of ($2.01) by ($0.30). bluebird bio had a negative net margin of 857.55% and a negative return on equity of 27.61%. The firm had revenue of $15.96 million for the quarter, compared to analysts’ expectations of $5.85 million. During the same quarter in the previous year, the company earned ($1.68) EPS. The company’s quarterly revenue was up 133.7% compared to the same quarter last year. sell-side analysts forecast that bluebird bio Inc will post -9.32 EPS for the current year.

BLUE has been the subject of a number of research reports. BidaskClub downgraded shares of bluebird bio from a “strong-buy” rating to a “buy” rating in a research note on Friday, March 16th. ValuEngine raised shares of bluebird bio from a “buy” rating to a “strong-buy” rating in a research note on Wednesday, May 2nd. Cantor Fitzgerald cut their price objective on shares of bluebird bio from $122.00 to $113.00 and set an “underweight” rating on the stock in a report on Thursday, February 22nd. SunTrust Banks upped their price objective on shares of bluebird bio to $232.00 and gave the stock a “buy” rating in a report on Thursday, April 19th. Finally, Piper Jaffray Companies initiated coverage on shares of bluebird bio in a report on Wednesday, May 30th. They issued a “buy” rating and a $240.00 price objective on the stock. Three analysts have rated the stock with a sell rating, nine have assigned a hold rating, fourteen have given a buy rating and one has given a strong buy rating to the company. The stock presently has an average rating of “Hold” and a consensus target price of $197.90.

bluebird bio Company Profile

bluebird bio, Inc, a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer. Its product candidates include Lenti-D that is in Phase II/III clinical trials for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in various clinical studies for the treatment of transfusion- transfusion-dependent ß-thalassemia and severe sickle cell disease.

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Institutional Ownership by Quarter for bluebird bio (NASDAQ:BLUE)

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