In the latest trading session, 0.7 million bluebird bio Inc. (NASDAQ:BLUE) shares changed hands as the company’s beta touched 0.91. With the company’s most recent per share price at $3.26 changed hands at -$0.09 or -2.84% at last look, the market valuation stands at $346.10M. BLUE’s current price is a discount, trading about -163.19% off its 52-week high of $8.58. The share price had its 52-week low at $2.78, which suggests the last value was 14.72% up since then. When we look at bluebird bio Inc.’s average trading volume, we note the 10-day average is 3.72 million shares, with the 3-month average coming to 4.25 million.
Analysts gave the bluebird bio Inc. (BLUE) stock a consensus recommendation rating of a Hold, calculated at a mean rating of 2.60. If we narrow down to specifics, the data shows that 2 out of 14 analysts rate the stock as a Sell, with a further 3 assigning it an Overweight rating. Of the remaining, 6 recommended BLUE as a Hold, 3 felt it is a Buy and 0 rated the stock as Underweight. bluebird bio Inc.’s EPS for the current quarter is expected to be -$0.67.
bluebird bio Inc. (NASDAQ:BLUE) trade information
Instantly BLUE was in red as seen in intraday trades today. With action -8.57%, the performance over the past five days has been red. The drop to weekly highs of 3.63 on Friday, 09/15/23 subtracted -2.84% to the stock’s daily price. The company’s shares are showing year-to-date downside of -52.96%, with the 5-day performance at -8.57% in the red. However, in the 30-day time frame, bluebird bio Inc. (NASDAQ:BLUE) is -5.92% down. Looking at the short shares, we see there were 26.04 million shares sold at short interest cover period of 6.65 days.
The consensus price target for the stock as assigned by Wall Street analysts is $7.10, meaning bulls need an upside of 54.08% from its recent market value. According to analyst projections, BLUE’s forecast low is $3.00 with $11.00 as the target high. To hit the forecast high, the stock’s price needs a -237.42% plunge from its current level, while the stock would need to tank 7.98% for it to hit the projected low.
bluebird bio Inc. (BLUE) estimates and forecasts
Data shows that the bluebird bio Inc. share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot -28.30% over the past 6 months, a 38.18% in annual growth rate that is considerably higher than the industry average of 11.90%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2023 revenue estimates. The rating firms predict current quarter revenue for bluebird bio Inc. will rise 28.70%, while the growth in revenue is estimated to hit -284.20% for the next quarter. Year-over-year growth is forecast to reach 1,206.90% up from the last financial year.
Consensus estimates given by 8 financial analysts project the company’s revenue in the current quarter to hit an average of $13.39 million. 8 analysts are of the opinion that bluebird bio Inc.’s revenue for the quarter ending Dec 2023 will be $20.66 million. The company’s revenue for the corresponding quarters a year ago was $1 million and $62k respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at 1,239.00%. The estimates for the next quarter sales put growth at 33,222.60%.
Looking at the company’s year-on-year earnings, data shows that the past 5-year has an earnings growth rate of 19.70%. The 2023 estimates are for bluebird bio Inc. earnings to increase by 58.50%, but the outlook for the next 5-year period is at 45.80% per year.
bluebird bio Inc. is expected to release its next quarterly earnings report between November 06 and November 10.
bluebird bio Inc. (NASDAQ:BLUE)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 0.87% of bluebird bio Inc. shares while 94.72% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 95.56%. There are 94.72% institutions holding the bluebird bio Inc. stock share, with State Street Corporation the top institutional holder. As of Jun 29, 2023, the company held 15.29% of the shares, roughly 16.36 million BLUE shares worth $52.35 million.
Blackrock Inc. holds the second largest percentage of outstanding shares, with 8.22% or 8.79 million shares worth $28.14 million as of Jun 29, 2023.
Among Mutual Funds, the top two as of Jul 30, 2023 were SPDR (R) Ser Tr-SPDR (R) S&P (R) Biotech ETF and Vanguard Total Stock Market Index Fund. With 14.34 million shares estimated at $45.9 million under it, the former controlled 13.41% of total outstanding shares. On the other hand, Vanguard Total Stock Market Index Fund held about 3.17% of the shares, roughly 3.39 million shares worth around $10.84 million.