Shares of bluebird bio traded down $11.58 to $175.05 last night in after-hours after the company announced that the National Institutes of Health Recombinant DNA Advisory Committee recommended bluebird delay initiation of the pediatric LentiGlobin study in the United States for one to two years. The recommendation does not pertain to the adolescent and adult trial and has no bearing on Europe timelines, Piper notes. The firm says even that if the pediatric indication is delayed, it would not change its estimates since it modeled for a "modest" early launch anyway. Piper reiterates an Overweight rating on bluebird bio with a $213 price target.