BlackRock Fund Advisors recently announced the acquisition of new stake in Bluebird bio Inc (NASDAQ:BLUE). The institutional investor has increased its shareholding in the Healthcare company by 0.89% to 7.81 million shares with purchase of 69040.0 shares. This fresh investment now brings its stake to 7.14% valued currently at $29.84 million. In addition, The Vanguard Group, Inc. raised its holdings by 46776.0 to 5.45 million shares.
With over 15.99 million Bluebird bio Inc (BLUE) shares trading Tuesday and a closing price of $1.47 on the day, the dollar volume was approximately $23.51 million. The shares have shown a negative half year performance of -55.99% and its price on 01/02/24 gained nearly 6.52%. Currently, there are 109.41M common shares owned by the public and among those 106.42M shares have been available to trade.
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An analysis of what Wall Street brokers have to say about the expected price targets for this stock gives us this picture: 15 analysts who have offered their price forecasts for BLUE have a consensus price objective of $5.53. The analysts have set the share’s price value over the next 12 months at a high of $13.00 and a low of $2.00. The average price target is 73.42% above its recent price level and an upside to the estimated low will see the stock gain 26.5% over that period. But an upside of 88.69% will see the stock hit the forecast high price target while median target price for the stock is $5.00.
Insiders at the company have transacted a total of 22 times over the past 12 months, according to data filed with the U.S. Securities and Exchange Commission (SEC). 11 of these insider trades were purchases, accounting for 297,003 shares. Insider sales of the common stock occurred on 11 occasions, with total insider shares sold totaling 37,989 shares.
The top 3 mutual fund holders in Bluebird bio Inc are SPDR S&P Biotech ETF, Vanguard Total Stock Market ETF, and iShares Russell 2000 ETF. SPDR S&P Biotech ETF owns 11.46 million shares of the company’s stock, all valued at over $43.78 million. The company bought an additional 53400.0 shares recently to bring their total holdings to about 10.48% of the shares outstanding. iShares Russell 2000 ETF bought 1290.0 shares to bring its total holdings to over 2.62 million shares at a value of $10.02 million. iShares Russell 2000 ETF now owns shares totaling to 2.40% of the shares outstanding.
Shares of Bluebird bio Inc (NASDAQ: BLUE) opened at $1.37, down -$0.01 from a prior closing price of $1.38. However, the script later moved the day high at 1.5250, up 6.52%. The company’s stock has a 5-day price change of 5.00% and -50.00% over the past three months. BLUE shares are trading 6.52% year to date (YTD), with the 12-month market performance down to -78.63% lower. It has a 12-month low price of $1.26 and touched a high of $8.52 over the same period. BLUE has an average intraday trading volume of 9.66 million shares. The stock is trading above its simple moving averages at the SMA20, SMA50, and SMA200, as the current price level is off by -47.64%, -52.36%, and -57.38% respectively.
Institutional ownership of Bluebird bio Inc (NASDAQ: BLUE) shares accounts for 80.84% of the company’s 109.41M shares outstanding. Mutual fund holders own 43.48%, while other institutional holders and individual stakeholders account for 6.35% and 37.55% respectively.
It has a market capitalization of $160.83M and a beta (3y monthly) value of 0.84. The earnings-per-share (ttm) stands at -$0.74. Price movements for the stock have been influenced by the stock’s volatility, which stands at 7.34% over the week and 14.89% over the month.
Analysts forecast that Bluebird bio Inc (BLUE) will achieve an EPS of -$0.61 for the current quarter, -$0.55 for the next quarter and -$1.78 for 2024. The lowest estimate earnings-per-share for the quarter is -$1.03 while analysts give the company a high EPS estimate of $0.14. Comparatively, EPS for the current quarter was $0.38 a year ago. Earnings per share for the fiscal year are expected to increase by 43.52%, and 10.33% over the next financial year. EPS should grow at an annualized rate of 45.80% over the next five years, compared to 15.14% over the past 5-year period.
If you are looking to buy this stock, then you may note that the average analyst recommendation by 15 brokerage firm advisors rate Bluebird bio Inc (BLUE) as a “Moderate Buy” at a consensus score of 2.53. Specifically, 3 Wall Street analysts polled rate the stock as a buy, while 8 of the 15 advise that investors “hold,” and 1 rated it as a “Sell.”
