bluebird bio (NASDAQ:BLUE) Stock Price Passes Below 200 Day Moving Average of $1.23

bluebird bio, Inc. (NASDAQ:BLUE) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.23 and traded as low as $0.92. bluebird bio shares last traded at $0.98, with a volume of 8,509,356 shares traded.

Wall Street Analyst Weigh In

Several equities research analysts have weighed in on the stock. HSBC cut their target price on shares of bluebird bio from $2.31 to $1.02 and set a “reduce” rating on the stock in a report on Tuesday, March 5th. StockNews.com raised shares of bluebird bio to a “sell” rating in a report on Thursday, March 28th. Wells Fargo & Company cut their price objective on shares of bluebird bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a report on Wednesday, March 27th. Wedbush dropped their target price on shares of bluebird bio from $1.72 to $1.68 and set a “neutral” rating for the company in a research report on Tuesday, March 19th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 target price on shares of bluebird bio in a research report on Wednesday, March 27th. Two analysts have rated the stock with a sell rating, six have issued a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, bluebird bio currently has a consensus rating of “Hold” and a consensus target price of $5.46.

bluebird bio Price Performance

The stock’s 50 day moving average price is $0.96 and its 200 day moving average price is $1.22.

Institutional Investors Weigh In On bluebird bio

A number of institutional investors have recently modified their holdings of BLUE. Sequoia Financial Advisors LLC bought a new stake in shares of bluebird bio in the 4th quarter valued at $37,000. Dynamic Technology Lab Private Ltd bought a new position in bluebird bio during the fourth quarter worth $37,000. Johnson Investment Counsel Inc. boosted its stake in bluebird bio by 111.1% during the fourth quarter. Johnson Investment Counsel Inc. now owns 27,889 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 14,680 shares in the last quarter. Enterprise Bank & Trust Co bought a new position in bluebird bio during the first quarter worth $38,000. Finally, China Universal Asset Management Co. Ltd. boosted its stake in bluebird bio by 189.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 23,933 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

bluebird bio Company Profile

bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.