Tocqueville Asset Management L.P. lowered its stake in bluebird bio Inc (NASDAQ:BLUE) by 26.9% during the first quarter, Holdings Channel reports. The institutional investor owned 31,290 shares of the biotechnology company’s stock after selling 11,500 shares during the period. Tocqueville Asset Management L.P. owned 0.08% of bluebird bio worth $2,844,000 at the end of the most recent reporting period.
Other hedge funds have also recently made changes to their positions in the company. Russell Investments Group Ltd. purchased a new stake in shares of bluebird bio during the fourth quarter valued at $1,477,000. Rhumbline Advisers boosted its stake in shares of bluebird bio by 4.4% in the third quarter. Rhumbline Advisers now owns 47,412 shares of the biotechnology company’s stock valued at $3,214,000 after buying an additional 2,011 shares in the last quarter. Polar Capital LLP purchased a new stake in shares of bluebird bio during the third quarter valued at $10,349,000. Hood River Capital Management LLC purchased a new stake in shares of bluebird bio during the third quarter valued at $8,071,000. Finally, Metropolitan Life Insurance Co. NY boosted its stake in shares of bluebird bio by 7.6% in the fourth quarter. Metropolitan Life Insurance Co. NY now owns 28,505 shares of the biotechnology company’s stock valued at $1,759,000 after buying an additional 2,017 shares in the last quarter.
Shares of bluebird bio Inc (NASDAQ:BLUE) traded down 3.11% on Friday, reaching $90.30. The company’s stock had a trading volume of 550,292 shares. The stock’s market cap is $3.69 billion. bluebird bio Inc has a 52-week low of $35.37 and a 52-week high of $100.40. The firm’s 50 day moving average is $87.82 and its 200-day moving average is $73.14.
bluebird bio (NASDAQ:BLUE) last issued its earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of ($1.76) by $0.08. bluebird bio had a negative return on equity of 30.79% and a negative net margin of 3,941.72%. The firm had revenue of $6.83 million for the quarter, compared to analysts’ expectations of $1.51 million. On average, equities research analysts forecast that bluebird bio Inc will post ($7.28) EPS for the current year.
Several analysts have weighed in on BLUE shares. Jefferies Group LLC reissued a “buy” rating and set a $88.00 price objective on shares of bluebird bio in a report on Friday, March 24th. Zacks Investment Research cut bluebird bio from a “hold” rating to a “sell” rating in a report on Tuesday, April 25th. Roth Capital reissued a “neutral” rating and set a $71.00 price objective (down from $87.00) on shares of bluebird bio in a report on Monday, February 6th. Maxim Group set a $87.00 price objective on bluebird bio and gave the stock a “buy” rating in a report on Friday, February 3rd. Finally, Morgan Stanley boosted their price objective on bluebird bio from $58.00 to $87.00 and gave the stock an “equal weight” rating in a report on Wednesday, March 1st. Two equities research analysts have rated the stock with a sell rating, six have assigned a hold rating and ten have assigned a buy rating to the company. The stock has an average rating of “Hold” and an average target price of $84.53.
In related news, insider Jason Cole sold 3,772 shares of bluebird bio stock in a transaction dated Tuesday, February 14th. The stock was sold at an average price of $80.01, for a total value of $301,797.72. Following the completion of the transaction, the insider now owns 12,717 shares in the company, valued at $1,017,487.17. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Director Daniel Lynch sold 1,000 shares of bluebird bio stock in a transaction dated Thursday, April 27th. The stock was sold at an average price of $90.01, for a total value of $90,010.00. Following the completion of the transaction, the director now owns 2,400 shares of the company’s stock, valued at approximately $216,024. The disclosure for this sale can be found here. In the last quarter, insiders sold 34,694 shares of company stock valued at $3,038,684. 3.50% of the stock is currently owned by company insiders.
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).
Want to see what other hedge funds are holding BLUE? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for bluebird bio Inc (NASDAQ:BLUE).