bluebird bio Inc. [NASDAQ: BLUE] stock went on a downward path that fall over -4.21% on Tuesday, amounting to a one-week price decrease of less than -6.09%. The company report on January 18, 2023 that bluebird bio, Inc. Announces Pricing of $120 Million Public Offering of Common Stock.
bluebird bio, Inc. (Nasdaq: BLUE) (“bluebird”) today announced the pricing of its underwritten public offering of 20,000,000 shares of its common stock at a public offering price of $6.00 per share, before deducting underwriting discounts and commissions. bluebird also granted the underwriters a 30-day option to purchase up to an additional 3,000,000 shares of its common stock at the public offering price per share, less underwriting discounts and commissions. The gross proceeds from the public offering are expected be $120 million, before deducting underwriting discounts and commissions and offering expenses payable by bluebird and assuming no exercise of the underwriters’ option to purchase additional shares of common stock. All shares in the offering are to be sold by bluebird.
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Goldman Sachs & Co. LLC and J.P. Morgan Securities LLC are acting as joint book running managers for the offering.
Over the last 12 months, BLUE stock dropped by -13.25%. The one-year bluebird bio Inc. stock forecast points to a potential upside of 43.16. The average equity rating for BLUE stock is currently 2.90, trading closer to a bullish pattern in the stock market.
The market cap for the stock reached $436.58 million, with 102.92 million shares outstanding and 101.78 million shares in the current float. Compared to the average trading volume of 3.87M shares, BLUE stock reached a trading volume of 3434642 in the most recent trading day, which is why market watchdogs consider the stock to be active.
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 $7.60 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 2.90. 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.
Robert W. Baird have made an estimate for bluebird bio Inc. shares, keeping their opinion on the stock as Outperform, with their previous recommendation back on March 07, 2023. The new note on the price target was released on August 05, 2022, representing the official price target for bluebird bio Inc. stock. Previously, the target price had yet another raise to $8, while Raymond James analysts kept a Outperform rating on BLUE stock.
The Average True Range (ATR) for bluebird bio Inc. is set at 0.31, with the Price to Sales ratio for BLUE stock in the period of the last 12 months amounting to 85.60. The Price to Book ratio for the last quarter was 2.22, with the Price to Cash per share for the same quarter was set at 1.38.
BLUE Stock Performance Analysis:
bluebird bio Inc. [BLUE] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -6.09. With this latest performance, BLUE shares dropped by -17.40% in over the last four-week period, additionally sinking by -16.28% over the last 6 months – not to mention a drop of -13.25% 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 35.78, with the RSI for the last a single of trading hit 36.12, and the three-weeks RSI is set at 36.53 for bluebird bio Inc. [BLUE]. The present Moving Average for the last 50 days of trading for this stock 5.49, while it was recorded at 4.38 for the last single week of trading, and 6.03 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 -15322.36 and a Gross Margin at -1000.66. bluebird bio Inc.’s Net Margin is presently recorded at -15364.23.
Return on Total Capital for BLUE is now -55.78, given the latest momentum, and Return on Invested Capital for the company is -57.30. Return on Equity for this stock declined to -65.07, with Return on Assets sitting at -47.38. When it comes to the capital structure of this company, bluebird bio Inc. [BLUE] has a Total Debt to Total Equity ratio set at 23.94. Additionally, BLUE Total Debt to Total Capital is recorded at 19.31, with Total Debt to Total Assets ending up at 15.09. Long-Term Debt to Equity for the company is recorded at 17.75, with the Long-Term Debt to Total Capital now at 14.32.
Reflecting on the efficiency of the workforce at the company, bluebird bio Inc. [BLUE] managed to generate an average of -$1,086,174 per employee.bluebird bio Inc.’s liquidity data is similarly interesting compelling, with a Current Ratio set at 1.30.
BLUE Stock EPS
The progress of the company may be observed through the prism of EPS growth rate, while Wall Street analysts are focusing on predicting the 5-year EPS growth rate for BLUE. When it comes to the mentioned value, analysts are expecting to see the 5-year EPS growth rate for bluebird bio Inc. go to 45.80%.
bluebird bio Inc. [BLUE] Insider Position Details
There are presently around $308 million, or 81.30% of BLUE stock, in the hands of institutional investors. The top three institutional holders of BLUE stocks are: STATE STREET CORP with ownership of 12,759,471, which is approximately 0.307% of the company’s market cap and around 1.20% of the total institutional ownership; BLACKROCK INC., holding 7,368,662 shares of the stock with an approximate value of $33.23 million in BLUE stocks shares; and TANG CAPITAL MANAGEMENT LLC, currently with $20.91 million in BLUE stock with ownership of nearly -26.833% of the company’s market capitalization.
Positions in bluebird bio Inc. stocks held by institutional investors increased at the end of Wednesday and at the time of the Wednesday reporting period, where 111 institutional holders increased their position in bluebird bio Inc. [NASDAQ:BLUE] by around 12,460,082 shares. Additionally, 65 investors decreased positions by around 10,340,456 shares, while 31 investors held positions by with 45,393,263 shares. The mentioned changes placed institutional holdings at 68,193,801 shares, according to the latest SEC report filing. BLUE stock had 46 new institutional investments in for a total of 4,171,298 shares, while 18 institutional investors sold positions of 3,168,529 shares during the same period.