(BLUE) - Analyzing bluebird bio's Short Interest
Portfolio Pulse from Benzinga Insights
bluebird bio (NYSE:BLUE) has seen a 4.01% increase in its short percent of float since the last report, reaching 15.84% of all shares available for trading. With 28.59 million shares sold short, it would take about 3.42 days to cover all short positions. This rise in short interest indicates a more bearish market sentiment towards BLUE, although it doesn't necessarily predict a near-term price drop. Compared to its peers, BLUE has a significantly higher short interest, with the peer group average at 5.50%.
February 29, 2024 | 4:45 pm
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NEGATIVE IMPACT
bluebird bio's short interest has increased to 15.84% of its float, indicating a bearish market sentiment. This is significantly higher than its peer group average of 5.50%.
The increase in short interest for bluebird bio suggests that investors are becoming more bearish on the stock. This could lead to increased selling pressure in the short term, potentially causing the stock price to decrease. The comparison with its peers, where BLUE has a much higher short interest, further emphasizes the negative sentiment towards the company.
CONFIDENCE 90
IMPORTANCE 75
RELEVANCE 100