bluebird bio, Inc. (NASDAQ:BLUE) price on Thursday, Dec 24, dropped -1.02% below its previous day’s close as a downside momentum from buyers pushed the stock’s value to $45.54.
A look at the stock’s price movement, the close during the last trading session was $46.01, moving within a range at $44.96 and $46.35. The beta value (5-Year monthly) is 1.9 while the PE ratio in trailing twelve months stood at 0. Turning to its 52-week performance, $99.36 and $38.95 were the 52-week high and 52-week low respectively. Overall, BLUE moved 6.8% over the past month.
bluebird bio, Inc.’s market cap currently stands at around $3.03 Billion, with investors looking forward to this quarter’s earnings report slated for Feb 16, 2021- Feb 22, 2021. The company has a Forward Dividend ratio of 0, with its dividend yield at 0%. As such, investors might be keen on a downside in the stock’s price ahead of the scheduled earnings report. Analysts project the company’s earnings per share (EPS) to be -$2.9, which has seen fiscal year 2020 EPS growth forecast to increase to -$9.89 and about -$11.01 for fiscal year 2021. Per the data, EPS growth is expected to be -0.31% for 2020 and 0.11% for the next financial year.
Analysts have a consensus estimate of $15.85 Million for the company’s revenue for the quarter, with a low and high estimate of $2.21 Million and $37.7 Million respectively. The average forecast suggests up to a 58.5% growth in sales growth compared to quarterly growth in the same period last fiscal year. Wall Street analysts have also projected the company’s year-on-year revenue for 2020 to grow to $260.36 Million, representing a +482.8% jump on that reported in the 2019 financial year.
Revisions could be used as tool to get short term price movement insight, and for the company that in the past seven days was 1 upward and no downward review(s). Turning to the stock’s technical picture we see that short term indicators suggest on average that BLUE is a 50% Sell. On the other hand, the stock is on average a 100% Sell as suggested by medium term indicators while long term indicators are putting the stock in 100% Sell category.
24 analyst(s) have given their forecast ratings for the stock on a scale of 1.00-5.00 for a strong buy to strong sell recommendation. A total of 8 analyst(s) rate the stock as a Hold, 15 recommend BLUE as a Buy and 1 give it an Outperform rating. Meanwhile, none analyst(s) rate the stock as Underperform and none say it is a Sell. As such, the average rating for the stock is Overweight which could provide an opportunity for investors keen on increasing their holdings of the company’s stock.
The technical evaluation for the stock shows the PEG ratio is 0, with BLUE’s current price about 1.71% and -5.23% off the 20-day and 50-day simple moving averages respectively. The Relative Strength Index (RSI, 14) currently prints 49.3, while 7-day volatility ratio is 4.32% and 4.13% in the 30-day chart. Further, bluebird bio, Inc. (BLUE) has a beta value of 1.9, and an average true range (ATR) of 1.78. Analysts have given the company’s stock an average 52-week price target of $79.9, forecast between a low of $48 and high of $146. Looking at the price targets, the low is 5.4% off current price level while to achieve the yearly target high price needs to move +220.6%. Nonetheless, investors will most likely welcome a +77.87% jump to $81 that is the analysts’ median price.
In the market, a comparison of bluebird bio, Inc. (BLUE) and its peers suggest the former has performed considerably weaker. Data shows BLUE’s intraday price has changed -1.02% today and -49.7% over the past year. Comparatively, Bristol-Myers Squibb Company (BMY) has moved +0.25% on the day and only -4.39% in the past 12 months. Looking at another peer, we see that Amgen Inc (AMGN) price has dipped 0% on the day. However, the stock is -7.84% off its price today a year ago. Moreover, Gilead Sciences Inc (GILD) is also down -1.02% in today trading while keeping a downtrend of -49.7% over the past year. If we look at the PE ratio, we find that bluebird bio, Inc.’s ratio stands at 0 compared to Bristol-Myers Squibb Company’s 0 and Amgen Inc’s 17.98. Elsewhere, the overall performance for the S&P 500 and Dow Jones Industrial shows that the indexes are up 0.35% and 0.23% respectively on the day as seen in early trades.
If we refocus on bluebird bio, Inc. (NASDAQ:BLUE), historical trading data shows that trading volumes averaged 1.15 Million over the past 10 days and 999.5 Million over the past 3 months. The company’s latest data on shares outstanding shows there are 66.22 Million shares.
As per Thomson Reuters, 0.5% of bluebird bio, Inc.’s shares are in the hands of company insiders while institutional holders own 97.71% of the company’s shares. Also important is the data on short interest which shows that short shares stood at 6.84 Million on November 29, 2020, giving us a short ratio of 5.16. The data shows that as of November 29, 2020 short interest in bluebird bio, Inc. (BLUE) stood at 10.31% of shares outstanding, with shares short rising to 6.34 Million registered in October. Current price change has pushed the stock -48.1% YTD, which shows the risk of further decline is there. It is this reason that could see investor optimism for the BLUE stock might rise going into the next quarter.
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