Bluebird bio Inc (NASDAQ: BLUE) stock jumped 12.50% on Friday to $3.42 against a previous-day closing price of $3.04. With 4.99 million shares changed hands, the volume of the stock remained heavier than its average volume of 3.49 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $3.4300 whereas the lowest price it dropped to was $3.0700. The 52-week range on BLUE shows that it touched its highest point at $8.58 and its lowest point at $2.52 during that stretch. It currently has a 1-year price target of $7.20. Beta for the stock currently stands at 0.88.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of BLUE was up-trending over the past week, with a rise of 14.77%, but this was up by 23.02% over a month. The stock lost -52.10% in the past year, while it has lost -50.58% so far this year. A look at the trailing 12-month EPS for BLUE yields -0.74 with Next year EPS estimates of -1.70. For the next quarter, that number is -0.68. This implies an EPS growth rate of 42.91% for this year and 12.27% for next year. EPS is expected to grow by 45.80% annually over the next five years; however, over the past five years, the company experienced an annual growth rate of 15.14%.
Float and Shares Shorts:
At present, 109.34 million BLUE shares are outstanding with a float of 106.28 million shares on hand for trading. On Oct 30, 2023, short shares totaled 24.57 million, which was 22.96% higher than short shares on Sep 28, 2023. In addition to Mr. Andrew Obenshain as the firm’s President, CEO & Director, Mr. Thomas J. Klima serves as its Chief Commercial Officer & COO.
Through their ownership of 94.72% of BLUE’s outstanding shares, institutional investors have majority control over the company.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for BLUE since 0 analysts follow the stock currently. In the same way, a target price assigned to a stock can also reveal much about its potential. With BLUE analysts setting a high price target of $13.00 and a low target of $3.00, the average target price over the next 12 months is $7.20. Based on these targets, BLUE could surge 280.12% to reach the target high and fall by -12.28% to reach the target low. Reaching the average price target will result in a growth of 110.53% from current levels.
Summary of Insider Activity:
Insiders traded BLUE stock several times over the past three months with 0 Buys and 1 Sells. In these transactions, 0 shares were bought while 922 shares were sold. The number of buy transactions has increased to 12 while that of sell transactions has risen to 9 over the past year. The total number of shares bought during that period was 347,003 while 34,839 shares were sold.