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

Millennium Management LLC trimmed its position in bluebird bio, Inc. (NASDAQ:BLUE - Free Report) by 17.5% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 5,146,653 shares of the biotechnology company's stock after selling 1,092,888 shares during the period. Millennium Management LLC owned approximately 4.71% of bluebird bio worth $5,065,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Allegheny Financial Group LTD acquired a new position in bluebird bio during the 2nd quarter worth approximately $25,000. Enterprise Bank & Trust Co acquired a new position in bluebird bio during the 1st quarter worth approximately $38,000. China Universal Asset Management Co. Ltd. boosted its position 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 worth $47,000 after acquiring an additional 23,933 shares during the last quarter. Sequoia Financial Advisors LLC boosted its position 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 worth $51,000 after acquiring an additional 13,000 shares during the last quarter. Finally, Bayesian Capital Management LP acquired a new position in bluebird bio during the 1st quarter worth approximately $52,000. 87.43% of the stock is owned by institutional investors and hedge funds.

bluebird bio Stock Performance

bluebird bio stock traded up $0.01 during mid-day trading on Friday, hitting $0.51. 3,974,698 shares of the company's stock traded hands, compared to its average volume of 7,748,361. The firm has a 50 day simple moving average of $0.63 and a two-hundred day simple moving average of $0.90. bluebird bio, Inc. has a fifty-two week low of $0.45 and a fifty-two week high of $5.53. The stock has a market cap of $98.12 million, a price-to-earnings ratio of -0.23 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.57.

bluebird bio (NASDAQ:BLUE - Get Free Report) last posted its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The firm had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. On average, research analysts expect that bluebird bio, Inc. will post -1.42 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of research firms have weighed in on BLUE. JPMorgan Chase & Co. downgraded bluebird bio from an "overweight" rating to a "neutral" rating in a research report on Thursday, August 15th. 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. StockNews.com initiated coverage on bluebird bio in a report on Saturday, October 5th. They issued a "sell" rating for the company. Royal Bank of Canada reissued a "sector perform" rating and issued a $4.00 price objective on shares of bluebird bio in a report on Thursday, August 15th. Finally, 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. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price 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.