What’s bluebird bio, Inc. (BLUE) Downside After Forming H&S Pattern?

July 14, 2018 - By Sheila Pollock

bluebird bio, Inc. (NASDAQ:BLUE) Logo

Investors sentiment decreased to 0.99 in Q1 2018. Its down 0.52, from 1.51 in 2017Q4. It dropped, as 34 investors sold bluebird bio, Inc. shares while 91 reduced holdings. 46 funds opened positions while 78 raised stakes. 51.45 million shares or 1.46% more from 50.71 million shares in 2017Q4 were reported.
Botty Invsts Limited Liability Company has 0.01% invested in bluebird bio, Inc. (NASDAQ:BLUE) for 100 shares. Art Advsrs has invested 0.03% of its portfolio in bluebird bio, Inc. (NASDAQ:BLUE). Dumont & Blake Invest Advsrs Limited Liability reported 4,000 shares or 0.29% of all its holdings. Smith Asset Management Lp has invested 0.01% in bluebird bio, Inc. (NASDAQ:BLUE). Fred Alger Management has 69,315 shares for 0.06% of their portfolio. Benjamin F Edwards Com owns 54 shares or 0% of their US portfolio. Gilder Gagnon Howe Lc reported 152,893 shares stake. Verition Fund Mgmt Ltd Llc owns 6,811 shares or 0.09% of their US portfolio. Eam Investors Ltd Liability Com accumulated 11,587 shares. Westpac Banking Corporation invested in 0% or 35,084 shares. Fairfield Bush & Com invested in 2,000 shares or 0.1% of the stock. Vanguard Grp has invested 0.03% in bluebird bio, Inc. (NASDAQ:BLUE). Balyasny Asset Mngmt Lc owns 215,039 shares for 0.15% of their portfolio. Ameritas Investment Prtn owns 0.03% invested in bluebird bio, Inc. (NASDAQ:BLUE) for 4,148 shares. Putnam Ltd Liability Corp accumulated 156,268 shares.

The stock of bluebird bio, Inc. (BLUE) formed H&S with $164.35 target or 9.00 % below today’s $180.60 share price. The 6 months Head & Shoulders indicates high risk for the $9.05 billion company. It was reported on Jul, 14 by Faxor.com. If the $164.35 price target is reached, the company will be worth $814.68 million less.
Head-and-shoulders are one of the best chart patterns to trade. They work in bear and bull markets and according to many researchers have very low failure rate. Even thought they have high pullback rate, such patters usually provide good risk-reward entry opportunities. The percentage of stocks meeting price targets is 55%.

The stock increased 0.17% or $0.3 during the last trading session, reaching $180.6. About 487,131 shares traded. bluebird bio, Inc. (NASDAQ:BLUE) has risen 135.78% since July 14, 2017 and is uptrending. It has outperformed by 123.21% the S&P500.

Analysts await bluebird bio, Inc. (NASDAQ:BLUE) to report earnings on August, 1. They expect $-2.32 EPS, down 34.10 % or $0.59 from last year’s $-1.73 per share. After $-2.31 actual EPS reported by bluebird bio, Inc. for the previous quarter, Wall Street now forecasts 0.43 % negative EPS growth.

bluebird bio, Inc. (NASDAQ:BLUE) Ratings Coverage

Among 15 analysts covering bluebird bio (NASDAQ:BLUE), 8 have Buy rating, 1 Sell and 6 Hold. Therefore 53% are positive. bluebird bio has $250.0 highest and $113.0 lowest target. $219.17’s average target is 21.36% above currents $180.6 stock price. bluebird bio had 25 analyst reports since January 25, 2018 according to SRatingsIntel. Evercore upgraded bluebird bio, Inc. (NASDAQ:BLUE) on Tuesday, June 19 to “Outperform” rating. The rating was maintained by Morgan Stanley on Monday, February 26 with “Equal-Weight”. The stock has “Hold” rating by Oppenheimer on Monday, June 4. On Thursday, February 22 the stock rating was maintained by Jefferies with “Buy”. PiperJaffray reinitiated bluebird bio, Inc. (NASDAQ:BLUE) on Thursday, May 31 with “Overweight” rating. The stock of bluebird bio, Inc. (NASDAQ:BLUE) earned “Buy” rating by William Blair on Friday, March 16. The company was maintained on Thursday, May 3 by BMO Capital Markets. The stock of bluebird bio, Inc. (NASDAQ:BLUE) has “Hold” rating given on Friday, June 15 by Oppenheimer. As per Friday, June 15, the company rating was maintained by BTIG Research. The rating was maintained by BMO Capital Markets on Thursday, February 22 with “Outperform”.

More notable recent bluebird bio, Inc. (NASDAQ:BLUE) news were published by: Fool.com which released: “Why Sangamo Therapeutics and bluebird bio Slipped Lower Today” on June 27, 2018, also Streetinsider.com with their article: “Gabelli Starts bluebird bio (BLUE) at Buy (Earlier)” published on July 12, 2018, Benzinga.com published: “Evercore ISI Says Bluebird Bio Has Path To Commercialization, Madrigal Pharma Outpaced By Mid-Cap Alternatives” on June 23, 2018. More interesting news about bluebird bio, Inc. (NASDAQ:BLUE) were released by: Seekingalpha.com and their article: “Premarket analyst action – healthcare” published on June 19, 2018 as well as Streetinsider.com‘s news article titled: “bluebird bio (BLUE) Notes Partner Celgene (CELG) Amends Dose Range for Phase 2 Study of bb2121” with publication date: July 12, 2018.

bluebird bio, Inc., a clinical-stage biotechnology company, focuses on developing transformative gene therapies for severe genetic diseases and cancer in Cambridge, Massachusetts and Seattle, Washington. The company has market cap of $9.05 billion. The Company’s product candidates include Lenti-D that is in phase II/III clinical studies for the treatment of cerebral adrenoleukodystrophy, a rare hereditary neurological disorder; and LentiGlobin, which is in four clinical studies for the treatment of transfusion-dependent ß-thalassemia, and severe sickle cell disease. It currently has negative earnings. The company's lead product candidate in oncology is bb2121, a chimeric antigen receptor T cell product candidate that is in a Phase I trial for the treatment of relapsed/refractory multiple myeloma. bluebird bio, Inc. has a strategic collaborations with Celgene Corporation to discover, develop, and commercialize disease-altering gene therapies in oncology; and Kite Pharma, Inc. to develop and commercialize second generation T cell receptor product candidates against an antigen related to certain cancers associated with the human papilloma virus.

bluebird bio, Inc. (NASDAQ:BLUE) Ratings Chart

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