bluebird bio, Inc. (NASDAQ:BLUE) Forecasted to Post Q1 2024 Earnings of ($0.29) Per Share

bluebird bio, Inc. (NASDAQ:BLUE) – Analysts at Leerink Partnrs dropped their Q1 2024 earnings estimates for bluebird bio in a report issued on Tuesday, March 26th. Leerink Partnrs analyst M. Foroohar now expects that the biotechnology company will earn ($0.29) per share for the quarter, down from their prior forecast of ($0.24). The consensus estimate for bluebird bio’s current full-year earnings is ($1.78) per share. Leerink Partnrs also issued estimates for bluebird bio’s Q2 2024 earnings at ($0.31) EPS and Q4 2024 earnings at ($0.18) EPS.

A number of other research analysts also recently weighed in on the stock. Robert W. Baird lowered their price objective on shares of bluebird bio from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 12th. Royal Bank of Canada restated a “sector perform” rating and set a $6.00 price objective on shares of bluebird bio in a research report on Wednesday. Wells Fargo & Company decreased their price target on shares of bluebird bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Wednesday. Wedbush decreased their price target on shares of bluebird bio from $1.72 to $1.68 and set a “neutral” rating on the stock in a research report on Tuesday, March 19th. Finally, Bank of America decreased their price target on shares of bluebird bio from $12.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, December 21st. Two investment analysts have rated the stock with a sell rating, six have issued a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $5.87.

bluebird bio Stock Performance

Shares of bluebird bio stock opened at $1.37 on Thursday. The company’s 50 day moving average is $1.24 and its 200 day moving average is $2.28. bluebird bio has a twelve month low of $0.88 and a twelve month high of $5.53.

Institutional Trading of bluebird bio

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the company. State Street Corp raised its position in bluebird bio by 39.2% in the 1st quarter. State Street Corp now owns 17,765,546 shares of the biotechnology company’s stock worth $56,494,000 after purchasing an additional 5,006,075 shares during the period. BlackRock Inc. raised its position in bluebird bio by 21.4% in the 1st quarter. BlackRock Inc. now owns 8,945,977 shares of the biotechnology company’s stock worth $28,448,000 after purchasing an additional 1,577,315 shares during the period. Vanguard Group Inc. raised its position in bluebird bio by 56.2% in the 4th quarter. Vanguard Group Inc. now owns 8,775,379 shares of the biotechnology company’s stock worth $12,110,000 after purchasing an additional 3,157,919 shares during the period. Granahan Investment Management LLC raised its position in bluebird bio by 57.2% in the 4th quarter. Granahan Investment Management LLC now owns 8,077,697 shares of the biotechnology company’s stock worth $11,147,000 after purchasing an additional 2,939,919 shares during the period. Finally, Norges Bank purchased a new stake in bluebird bio in the 4th quarter worth about $5,514,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.