Millennium Management LLC Sells 1,092,888 Shares of bluebird bio, Inc. (NASDAQ:BLUE)

Millennium Management LLC lowered its stake in bluebird bio, Inc. (NASDAQ:BLUE) by 17.5% in the 2nd quarter, HoldingsChannel.com reports. The fund owned 5,146,653 shares of the biotechnology company’s stock after selling 1,092,888 shares during the quarter. Millennium Management LLC’s holdings in bluebird bio were worth $5,065,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BLUE. Allegheny Financial Group LTD bought a new stake in shares of bluebird bio in the 2nd quarter valued at $25,000. Enterprise Bank & Trust Co bought a new stake in bluebird bio during the 1st quarter valued at $38,000. China Universal Asset Management Co. Ltd. increased its stake in bluebird bio by 189.2% during the 1st quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 23,933 shares in the last quarter. Sequoia Financial Advisors LLC increased its stake in bluebird bio by 48.0% during the 1st quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 13,000 shares in the last quarter. Finally, Bayesian Capital Management LP bought a new stake in bluebird bio during the 1st quarter valued at $52,000. Institutional investors own 87.43% of the company’s stock.

bluebird bio Price Performance

BLUE opened at $0.51 on Friday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.57. The company has a market capitalization of $98.12 million, a price-to-earnings ratio of -0.23 and a beta of 0.75. The firm’s fifty day moving average price is $0.64 and its two-hundred day moving average price is $0.90. bluebird bio, Inc. has a 1 year low of $0.45 and a 1 year high of $5.53.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The company had revenue of $18.57 million during the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. As a group, analysts anticipate that bluebird bio, Inc. will post -1.42 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of analysts have commented on BLUE shares. Bank of America decreased their price target on shares of bluebird bio from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered shares of bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Robert W. Baird decreased their price target on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. StockNews.com started coverage on shares of bluebird bio in a research note on Saturday, October 5th. They set a “sell” rating for the company. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $4.63.

bluebird bio 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.