Bluebird bio chief medical officer sells $473 in stock

In a recent transaction, Richard A. Colvin, the Chief Medical (TASE:PMCN) Officer of bluebird bio, Inc. (NASDAQ:BLUE), sold shares of the company’s common stock. On February 3, 2025, Colvin sold 64 shares at an average price of $7.3925 per share, amounting to a total sale value of approximately $473. Following this transaction, Colvin retains ownership of 8,194 shares in the company. The sale comes as the stock has experienced significant volatility, with shares down nearly 65% over the past six months and currently trading at $6.96.

The sale was executed to cover tax withholding obligations related to the vesting of Restricted Stock Units, according to the filing. The stock sale price ranged from $7.27 to $7.55 per share. According to InvestingPro analysis, bluebird bio appears undervalued at current levels, with 13 additional key insights available to subscribers. The company’s next earnings report is scheduled for February 25, 2025.

In other recent news, Bluebird Bio has undergone significant developments. RBC Capital Markets recently reduced its stock target for the company from $80 to $8, maintaining a Sector Perform rating. This adjustment followed reports of adverse events related to Bluebird Bio’s treatments, sparking concerns about the company’s future prospects.

Simultaneously, Baird lowered its financial outlook for Bluebird Bio, adjusting the price target from $120 to $54, while maintaining an Outperform rating. This revision reflected anticipated near-term dilution, although the firm’s stance on the company’s long-term prospects, particularly its lentiviral vector (LVV)-based cell therapies, remains positive.

In a separate move, BofA Securities downgraded Bluebird Bio’s stock from Buy to Neutral and significantly reduced the price target from $3 to $0.50 following Bluebird Bio’s third-quarter update. The firm cited slower ramp-up and lower peak revenue expectations for the company’s key product, Lyfgenia for Sickle Cell Disease (SCD), as reasons for the downgrade.

Moreover, JPMorgan downgraded Bluebird Bio from Neutral to Underweight, following the company’s third-quarter financial results, which revealed a loss per share of $0.31 and revenue of $10.6 million, falling short of the $18.3 million consensus estimate.

Lastly, during its Third Quarter 2024 Earnings Call, Bluebird Bio reported an increase in patient starts and a path to cash flow breakeven by the second half of 2025. Despite a decline in Q3 revenue to $10.6 million, the company forecasts a rebound to at least $25 million in Q4. These are significant recent developments for Bluebird Bio.

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