Bluebird bio Inc [BLUE] Stock trading around $1.21 per share: What’s Next?

Bluebird bio Inc [NASDAQ: BLUE] stock went on a downward path that fall over -2.42% on Tuesday, amounting to a one-week price decrease of less than -11.03%. The company report on March 26, 2024 at 7:01 AM that bluebird bio Reports Fourth Quarter and 2023 Annual Results and Highlights Operational Progress and 2024 Guidance.

– Cash runway through Q1 2026 following announcement of a $175 million term loan facility with Hercules Capital -.

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– 9 patient starts to date in 2024 (7 ZYNTEGLO, 2 SKYSONA); 85 to 105 patient starts anticipated across the portfolio in 2024 -.

Over the last 12 months, BLUE stock dropped by -61.46%. The one-year Bluebird bio Inc stock forecast points to a potential upside of 70.91. The average equity rating for BLUE stock is currently 2.77, trading closer to a bullish pattern in the stock market.

The market cap for the stock reached $233.22 million, with 192.74 million shares outstanding and 189.83 million shares in the current float. Compared to the average trading volume of 9.79M shares, BLUE stock reached a trading volume of 4457128 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 $4.16 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 2.77. 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.

HSBC Securities have made an estimate for Bluebird bio Inc shares, keeping their opinion on the stock as Reduce, with their previous recommendation back on December 11, 2023. While these analysts kept the previous recommendation, Morgan Stanley raised their target price from $3 to $7. The new note on the price target was released on December 08, 2023, representing the official price target for Bluebird bio Inc stock.

The Average True Range (ATR) for Bluebird bio Inc is set at 0.15, with the Price to Sales ratio for BLUE stock in the period of the last 12 months amounting to 10.73. The Price to Book ratio for the last quarter was 0.58, with the Price to Cash per share for the same quarter was set at 0.95.

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 -11.03. With this latest performance, BLUE shares dropped by -22.68% in over the last four-week period, additionally sinking by -60.20% over the last 6 months – not to mention a drop of -61.46% 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 43.32, with the RSI for the last a single of trading hit 39.58, and the three-weeks RSI is set at 44.55 for Bluebird bio Inc [BLUE]. The present Moving Average for the last 50 days of trading for this stock 1.2460, while it was recorded at 1.2590 for the last single week of trading, and 2.6593 for the last 200 days.

Insight into Bluebird bio Inc Fundamentals:

Bluebird bio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 1.42 and a Current Ratio set at 1.55.

BLUE Stock EPS

With the latest financial reports released by the company, Bluebird bio Inc posted 0.38/share EPS, while the average EPS was predicted by analysts to be reported at -0.44/share. When compared, the two values demonstrate that the company surpassed the estimates by a Surprise Factor of 186.40%. 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] Institutonal Ownership Details

The top three institutional holders of BLUE stocks are: VANGUARD GROUP INC with ownership of 1.32 billion shares, which is approximately 8.4983%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $200.69 billion in BLUE stocks shares; and BERKSHIRE HATHAWAY INC, currently with $174.35 billion in BLUE stock with ownership which is approximately 5.8386%.