bluebird bio Inc. [NASDAQ: BLUE] price plunged by -4.04 percent to reach at -$0.46. The company report on December 20, 2021 that bluebird bio Announces Partial Clinical Hold for Patients Under 18 in Sickle Cell Gene Therapy Clinical Program.
bluebird bio, Inc. (NASDAQ: BLUE) today announced that the FDA has placed its clinical program for lovotibeglogene autotemcel (lovo-cel) gene therapy for sickle cell disease (SCD) on partial clinical hold for patients under the age of 18. The partial, temporary suspension relates to an ongoing investigation by bluebird bio into an adolescent patient with persistent, non-transfusion-dependent anemia following treatment with lovo-cel, now 18 months post-treatment. This patient is clinically well and there is no evidence of malignancy or clonal predominance. Enrollment and dosing for patients 18 and older living with SCD in the HGB-206, HGB-210 and LTF-307 clinical studies, as well as follow up for treated patients of all ages in all studies are continuing as planned.
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“The safety of patients treated with our gene therapies is always our top priority,” said Richard Colvin, MD, Chief Medical Officer, bluebird bio. “Consistent with the FDA’s direction, we have paused enrollment and treatment of patients younger than 18 in our SCD clinical program, and we will continue to work collaboratively with the FDA to understand and address their concerns. While the partial hold is in place, we intend to continue planned follow-up on previously treated patients from HGB-206 and HGB-210 and plan to enroll and treat new adult patients with lovo-cel through study HGB-210 to further characterize the efficacy and safety of lovo-cel for patients with SCD and to continue to advance the field of gene therapy.”.
A sum of 4162534 shares traded at recent session while its average daily volume was at 2.16M shares. bluebird bio Inc. shares reached a high of $11.43 and dropped to a low of $10.77 until finishing in the latest session at $10.94.
The one-year BLUE stock forecast points to a potential upside of 17.81. The average equity rating for BLUE stock is currently 2.80, trading closer to a bullish pattern in the stock market.
Guru’s Opinion on bluebird bio Inc. [BLUE]:
Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for BLUE shares is $13.31 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on BLUE stock is a recommendation set at 2.80. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.
Wells Fargo have made an estimate for bluebird bio Inc. shares, keeping their opinion on the stock as Equal Weight, with their previous recommendation back on November 08, 2021. While these analysts kept the previous recommendation, Wedbush dropped their target price from $22 to $11. The new note on the price target was released on November 08, 2021, representing the official price target for bluebird bio Inc. stock. Previously, the target price had yet another drop from $26 to $14, while RBC Capital Mkts kept a Sector Perform rating on BLUE stock. On November 08, 2021, analysts decreased their price target for BLUE shares from 20 to 15.
The Average True Range (ATR) for bluebird bio Inc. is set at 0.79, with the Price to Sales ratio for BLUE stock in the period of the last 12 months amounting to 13.93. The Price to Book ratio for the last quarter was 0.86, with the Price to Cash per share for the same quarter was set at 11.37.
BLUE Stock Performance Analysis:
bluebird bio Inc. [BLUE] gain into the green zone at the end of the last week, gaining into a positive trend and gaining by 3.01. With this latest performance, BLUE shares gained by 1.67% in over the last four-week period, additionally sinking by -45.78% over the last 6 months – not to mention a drop of -62.89% in the past year of trading.
Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for BLUE stock in for the last two-week period is set at 52.10, with the RSI for the last a single of trading hit 53.62, and the three-weeks RSI is set at 43.17 for bluebird bio Inc. [BLUE]. The present Moving Average for the last 50 days of trading for this stock 14.13, while it was recorded at 11.15 for the last single week of trading, and 23.18 for the last 200 days.
Insight into bluebird bio Inc. Fundamentals:
Operating Margin for any stock indicates how profitable investing would be, and bluebird bio Inc. [BLUE] shares currently have an operating margin of -251.07 and a Gross Margin at +90.13. bluebird bio Inc.’s Net Margin is presently recorded at -246.75.
Return on Total Capital for BLUE is now -41.63, given the latest momentum, and Return on Invested Capital for the company is -41.54. Return on Equity for this stock declined to -46.87, with Return on Assets sitting at -35.27. When it comes to the capital structure of this company, bluebird bio Inc. [BLUE] has a Total Debt to Total Equity ratio set at 14.24. Additionally, BLUE Total Debt to Total Capital is recorded at 12.47, with Total Debt to Total Assets ending up at 10.84. Long-Term Debt to Equity for the company is recorded at 12.40, with the Long-Term Debt to Total Capital now at 10.85.
Reflecting on the efficiency of the workforce at the company, bluebird bio Inc. [BLUE] managed to generate an average of -$510,054 per employee.bluebird bio Inc.’s liquidity data is similarly interesting compelling, with a Quick Ratio of 3.10 and a Current Ratio set at 3.10.
bluebird bio Inc. [BLUE] Insider Position Details
There are presently around $601 million, or 77.20% of BLUE stock, in the hands of institutional investors. The top three institutional holders of BLUE stocks are: VANGUARD GROUP INC with ownership of 7,089,204, which is approximately 1.841% of the company’s market cap and around 1.50% of the total institutional ownership; WELLINGTON MANAGEMENT GROUP LLP, holding 6,918,987 shares of the stock with an approximate value of $78.88 million in BLUE stocks shares; and BLACKROCK INC., currently with $65.78 million in BLUE stock with ownership of nearly -2.359% of the company’s market capitalization.
Positions in bluebird bio Inc. stocks held by institutional investors increased at the end of November and at the time of the November reporting period, where 91 institutional holders increased their position in bluebird bio Inc. [NASDAQ:BLUE] by around 8,743,356 shares. Additionally, 119 investors decreased positions by around 9,113,414 shares, while 46 investors held positions by with 34,849,932 shares. The mentioned changes placed institutional holdings at 52,706,702 shares, according to the latest SEC report filing. BLUE stock had 26 new institutional investments in for a total of 1,712,587 shares, while 58 institutional investors sold positions of 4,968,115 shares during the same period.