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Tag: Blue stock

  • What Is Causing bluebird bio (BLUE) Stock To Rise This Session?

    What Is Causing bluebird bio (BLUE) Stock To Rise This Session?

    The stock of bluebird bio, Inc. (NASDAQ: BLUE), has demonstrated an upward trajectory on the financial charts during the current trading session. As of the most recent update in the early trading hours, bluebird bio’s stock has surged by 2.54% to reach a price of $3.03. This surge is attributed to a strategic agreement recently entered into by the company.

    This week, bluebird bio (BLUE) finalized a significant accord pertaining to the potential sale of a Rare Pediatric Disease Priority Review Voucher (PRV), contingent upon its reception. This agreement is intricately linked to the anticipated approval of lovotibeglogene autotemcel, often referred to as lovo-cel, for the treatment of sickle cell disease.

    Pursuant to the agreement, the rights to the PRV will be transferred to the purchasing party, with bluebird bio set to receive a sum of $103 million upon the consummation of the sale. It’s essential to note that the execution of this agreement hinges on the approval of the biologics license application (BLA) for lovo-cel by the U.S. Food and Drug Administration (FDA), in addition to the granting of the PRV.

    The BLA for lovo-cel had previously been granted priority review status by the FDA, specifically for patients afflicted with sickle cell disease aged 12 and above, who have a history of vaso-occlusive events (VOEs). Furthermore, the BLA is associated with a Prescription Drug User Fee Act (PDUFA) target date set for December 20, 2023. Importantly, it’s worth noting that bluebird bio may be eligible for a PRV in the event of lovo-cel’s approval for patients below the age of 18.

    The potential sale of a priority review voucher is poised to provide bluebird bio with a significant source of non-dilutive capital, strategically positioned in advance of the forthcoming launch of lovo-cel. Throughout the FDA’s thorough evaluation of lovo-cel, the BLUE team maintains a high level of confidence in the comprehensive and mature nature of its BLA submission designed for individuals aged 12 and above suffering from sickle cell disease.

    The company is eagerly awaiting a regulatory decision expected to be made by the close of this year. The finalization of this transaction is subject to various conditions, including the FDA’s approval of lovo-cel, the receipt of the PRV, and the fulfillment of customary closing requirements.

  • Missed Revenue and EPS Estimates: bluebird bio, Inc. (BLUE) Stock Plunging Deep in Early Trading.

    Missed Revenue and EPS Estimates: bluebird bio, Inc. (BLUE) Stock Plunging Deep in Early Trading.

    bluebird bio, Inc. (BLUE) is a company focusing on severe genetic diseases and engaged in the development of clinical portfolios for sickle cell anemia, thalassemia, and cerebral adrenoleukodystrophy.  The company has one of the largest and deepest ex-vivo gene therapy data set globally.

    The price of BLUE stock during regular early trading on March 7, 2022, was last checked to be $4.42 with a dive of 11.50%.

    BLUE: Key Financials

    On March 4, 2022, BLUE announced its consolidated unaudited financial outcomes for the fourth quarter of 2021 ended December 31, 2021. Some of the central features are as follows

    Revenue

    Total revenue in Q4 2021 was $1.6 million versus no revenue in the same period of 2020. The company recorded a considerable gain in its total revenue over the year. Also, it missed the analysts’ revenue estimates by $4.11 million.

    EPS

    Net loss basic and diluted per share in the fourth quarter of 2021 was $155 million or $2.14 against $199.8 million or $3.01 per share for the same period in 2020. The company observed a significant gain in its EPS over the year and also missed the EPS estimates by -$0.38.

    BLUE: Events and Happenings

    On January 18, 2022, BLUE reported the extension of the biologics licensing applications review period by the FDA for the company’s lentiviral vector gene therapies. The revised dates for beti-cel and eli-cel gene therapies are August 19, 2022, and September 16, 2022, respectively.

    On January 11, 2022, BLUE announced its executive management’s participation at the 40th Annual J.P. Morgan Healthcare Conference held on January 10-13, 2022. On December 20, 2021, BLUE was updated on the placement of the partial clinical hold by the FDA on its lovo-cel gene therapy for sickle cell disease. The temporary hold is the consequence of an investigation by the company into a patient with persistent, non-transfusion-dependent anemia 18 months post-treatment.

    Conclusion

    BLUE stock downplayed by 79% in 2021 as the pandemic was at its peak and it impacted the research pace of the company. The current stock decline in the early trading is an outcome of missing the analysts’ estimates of revenue and earnings per share.

  • Early Morning Vibes: 4 Top Trending Stocks To Watch Right Now

    Early Morning Vibes: 4 Top Trending Stocks To Watch Right Now

    Trades on January 7, US stock indexes finished in the green zone, setting new all-time highs. The S&P 500 Index rose 1.48% to 3804 points, the Dow Jones added 0.69%, the NASDAQ rose 2.56%. Investors took advantage of the attractive weakness in growth stocks as concerns about a corporate tax hike eased. Macro statistics turned out to be better than expected, business activity in the services sector rose steadily in December. Against this background, the IT sector became the growth leader with a result of 2.65%.

    Corporate Updates

    Plug Power (PLUG: + 35.1%) has entered into a strategic partnership with SK Group, which is investing $1.5 billion in PLUG in exchange for a 9.9% stake.

    L Brands (LB: + 6%), which owns the Victoria’s Secret brand, reported strong sales over the holidays and raised its 4Q EPS forecast.

    Albemarle (ALB: + 5.1%) will double production in Nevada by 2025 to meet demand for lithium used in electric car batteries.

    Today, world stock exchanges are showing mostly positive dynamics. The news background is quite calm and no new drivers of movement are observed. Donald Trump has been criticized for supporting his supporters on social media, and senators are discussing the possibility of an earlier removal of the president from office. On a positive note, Trump is committed to a peaceful transfer of power to new President Joseph Biden. Investors remain focused on assessing Biden’s potential reforms under Congress with a slight Democratic lead. Expectations are generally positive, so risk appetite is increased. The focus of investors’ attention will gradually shift from the political arena to the real economy.

    According to the latest comments from representatives of the Federal Reserve, the pace of economic recovery in the first quarter will be minimal, there is a risk of GDP contraction. In this regard, today’s publication of the block of macro-statistics on the labor market, which may not meet expectations, is of interest.

    Economic Highlights

    Today will be published the change in the number of employed in the non-agricultural sector for December. Growth is expected by 71 thousand, which is much less than the previous – 245 thousand. Published on Wednesday, January 6, data from the ADP showed a decline in the number of employees, which may be reflected in today’s publication. Yesterday, the employment component of the service PMI showed weakness, falling below 50. All this indicates the risk of the unemployment rate rising in December from 6.7% to 6.8-7.0%.

    The Freedom Finance Sentiment Index climbed to 66 out of 100. The indicator reflects market participants’ hope for a global economic recovery in 2021. Worries about the negative impact of the coronavirus pandemic are starting to wane thanks to the prospect of mass vaccinations starting soon.

    Technical picture

    Technically, the S&P 500 still looks attractive, the trend remains strong. Buyers continue to demonstrate relative strength. At the same time, the index is approaching the overbought zone according to the RSI indicator, which may mean a quick slowdown in growth and, at least, consolidation. A fall below the 3640-support level will lead to a reversal of the short-term trend.

    Today Top Movers

    ‎Scworx Corp (WORX), a software solutions provider company for the management of health, soared about 48.73% ‎at $2.35 in pre-market trading Friday.‎‎ 

    ‎Jaguar Health Inc (JAGX) share price jumped 13.05% to $3.03 during early morning ‎trading session on Friday.‎ 

    ‎Ideanomics Inc (IDEX) stock ascended 7.38% at $3.20 in the pre-‎market trading today. The company recently signed a definitive agreement to acquire 100% of privately held Wireless Advanced Vehicle Electrification, Inc. for cash and stock consideration.‎

    ‎Future Fintech Group Inc (FTFT) increased over 36.35% at $7.84 in pre-market ‎trading on Friday following the declaration from the firm that on December 31, 2020, China Copyright Protection Center has accepted the Company’s application for ten software copyrights relating to blockchain technology applications.‎

    Top Upgrades & Downgrades

    Keefe, Bruyette & Woods turned bullish on Regions Financial Corporation (RF), upgrading the stock to “Outperform” and assigning a $18.5 price target, representing potential upside of 4.76% from Thursday’s close. 

    Tenet Healthcare Corporation (THC) has won the favor of Jefferies’s equity research team. The firm upgraded the shares from Hold to Buy and moved their price target to $60.0, suggesting 34.02% additional upside for the stock. 

    3M Company (MMM) received an upgrade from analysts at B of A Securities, who also set their one-year price target on the stock to $170.0. They changed their rating on MMM to Underperform from Neutral in a recently issued research note. 

    Earlier Friday RBC Capital reduced its rating on Taylor Morrison Home Corporation (TMHC) stock to Sector Perform from Outperform and assigned the price target to $27.0. With shares trading at around $25.78, the Wall Street firm thinks Taylor Morrison Home Corporation’s stock could add than 4.71%. 

    Evercore ISI Group analysts reduced their investment ratings, saying in research reports covered by the media that its rating for Voya Financial Inc. (VOYA) has been changed to In-Line from Outperform and the new price target is set at $64. 

    Analysts at Needham downgraded Lam Research Corporation (LRCX)’s stock to Hold from Buy on Friday.

    Latest Insider Activity

    Capstone Turbine Corporation (CPST) Chief Financial Officer Hencken Frederick S. III announced the sale of shares taking place on Jan 05 at $10.69 for some 2,569 shares. The total came to more than $27463.

    Amazon.com Inc. (AMZN) Director RUBINSTEIN JONATHAN sold on Jan 05 a total 6,758 shares at $3166.01 on average. The insider’s sale generated proceeds of almost $0.99 million. 

    Blue Apron Holdings Inc. (APRN) 10% Owner DPH Holdings Ltd declared the purchase of shares taking place on Jan 04 at $5.63 for some 8,000 shares. The transaction amount was around $45040.

    Root Inc. (ROOT) 10% Owner Malka Meyer bought on Dec 30 a total of 1,753,976 shares at $16.55 on average. The purchase cost the insider an estimated $12.48 million.

    Important Earnings

    Top US earnings releases scheduled for Monday include Teligent Inc. (NASDAQ:TLGT). It will announce its Dec 2020 financial results. The company is expected to report earnings of -$1.27 per share from revenues of $15.45M in the three-month period. 

    Analysts expect Commercial Metals Company (NYSE: CMC) to report a net income (adjusted) of $0.54 per share when the bank releases its quarterly results shortly. Revenue for the fiscal quarter ended Nov 2020 is predicted to come in at $1.34B.