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Richard A. Colvin, the Chief Medical (TASE:BLWV) Officer of bluebird bio, Inc. (NASDAQ:BLUE), recently sold 584 shares of the company’s common stock, according to a filing with the Securities and Exchange Commission. The transaction comes as the stock trades near its 52-week low of $3.56, having declined over 86% in the past year. According to InvestingPro analysis, the stock appears undervalued at current levels. The shares were sold at an average price of $3.9194, with the transaction totaling $2,288. This sale was conducted to cover tax withholding obligations associated with the vesting of Restricted Stock Units. Following this transaction, Colvin retains ownership of 7,610 shares in the company. The transaction took place on March 3, 2025. With a market capitalization of just $38.5 million and significant financial challenges ahead, including weak gross profit margins and rapid cash burn, investors seeking deeper insights can access comprehensive insider trading analysis and 16 additional key ProTips through InvestingPro’s detailed research reports.
In other recent news, bluebird bio has entered into an acquisition agreement with Carlyle and SK Capital Partners (WA:CPAP). This deal, which is expected to close in the first half of 2025, will see bluebird bio become privately held, following approval from its Board of Directors. Stockholders are set to receive $3.00 per share in cash, with additional contingent value rights dependent on future sales targets. In a separate development, bluebird bio has terminated its sublease agreements with Aventis and Meta Platforms (NASDAQ:META) for a property in Cambridge, Massachusetts. This termination allows Meta Platforms to sublease directly from Aventis, with no immediate financial impact reported for bluebird bio.
Analyst firms have also made notable revisions regarding bluebird bio. RBC Capital Markets has significantly lowered its price target for the company from $80 to $8, citing concerns over severe adverse events related to bluebird bio’s treatments. Meanwhile, Baird has adjusted its price target from $120 to $54, reflecting anticipated near-term dilution, while maintaining an Outperform rating. Despite these adjustments, Baird remains positive about the long-term prospects of bluebird bio’s lentiviral vector-based therapies. These developments highlight the company’s ongoing strategic and financial adjustments as it navigates the challenges in the biotech industry.
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