bluebird bio, Inc. to Post FY2024 Earnings of ($1.40) Per Share, Cantor Fitzgerald Forecasts (NASDAQ:BLUE)

bluebird bio, Inc. (NASDAQ:BLUE) – Equities research analysts at Cantor Fitzgerald lowered their FY2024 earnings per share estimates for bluebird bio in a research note issued to investors on Tuesday, October 1st. Cantor Fitzgerald analyst E. Schmidt now anticipates that the biotechnology company will earn ($1.40) per share for the year, down from their prior forecast of ($1.31). Cantor Fitzgerald currently has a “Neutral” rating on the stock. The consensus estimate for bluebird bio’s current full-year earnings is ($1.57) per share.

Several other analysts have also issued reports on the company. Robert W. Baird cut their price objective on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company cut their price objective on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Bank of America cut their price objective on bluebird bio from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Barclays cut their price objective on bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, StockNews.com began coverage on bluebird bio in a report on Friday, September 27th. They set a “sell” rating for the company. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. Based on data from MarketBeat, bluebird bio presently has an average rating of “Hold” and an average target price of $4.63.

bluebird bio Price Performance

Shares of NASDAQ:BLUE opened at $0.49 on Thursday. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. bluebird bio has a 1 year low of $0.45 and a 1 year high of $5.53. The business has a fifty day simple moving average of $0.72 and a 200 day simple moving average of $0.94. The firm has a market cap of $53.27 million, a price-to-earnings ratio of -0.66 and a beta of 0.75.

Institutional Investors Weigh In On bluebird bio

Hedge funds and other institutional investors have recently made changes to their positions in the business. Masters Capital Management LLC acquired a new stake in shares of bluebird bio in the fourth quarter valued at about $1,380,000. Mirae Asset Global Investments Co. Ltd. grew its position in bluebird bio by 38.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock worth $416,000 after buying an additional 90,139 shares in the last quarter. Virtu Financial LLC acquired a new stake in bluebird bio during the fourth quarter worth about $317,000. HBK Investments L P acquired a new stake in bluebird bio during the fourth quarter worth about $2,070,000. Finally, Vestal Point Capital LP acquired a new stake in bluebird bio during the fourth quarter worth about $2,967,000. 87.43% of the stock is owned by institutional investors and hedge funds.

bluebird bio Company Profile

bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.