bluebird bio (NASDAQ:BLUE) Stock Crosses Below 200 Day Moving Average of $1.06

Shares of bluebird bio, Inc. (NASDAQ:BLUE) crossed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $1.06 and traded as low as $0.52. bluebird bio shares last traded at $0.53, with a volume of 6,771,453 shares trading hands.

Wall Street Analysts Forecast Growth

BLUE has been the topic of a number of analyst reports. Bank of America decreased their target price on shares of bluebird bio from $4.00 to $3.00 and set a “buy” rating on the stock in a report on Thursday, August 15th. Barclays decreased their price target on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. JPMorgan Chase & Co. lowered bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 target price on shares of bluebird bio in a research note on Thursday, August 15th. Finally, Robert W. Baird dropped their price target on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $4.74.

bluebird bio Stock Down 7.0 %

The firm has a market capitalization of $57.83 million, a P/E ratio of -0.71 and a beta of 0.75. The business’s 50-day simple moving average is $0.93 and its 200 day simple moving average is $1.05.

Hedge Funds Weigh In On bluebird bio

A number of large investors have recently added to or reduced their stakes in the business. Allegheny Financial Group LTD purchased a new stake in bluebird bio during the second quarter valued at about $25,000. Dynamic Technology Lab Private Ltd purchased a new stake in bluebird bio during the 4th quarter valued at about $37,000. Johnson Investment Counsel Inc. grew its position in bluebird bio by 111.1% during the 4th 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 during the last quarter. Enterprise Bank & Trust Co purchased a new position in bluebird bio in the 1st quarter worth approximately $38,000. Finally, China Universal Asset Management Co. Ltd. lifted its position in bluebird bio by 189.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock valued at $47,000 after purchasing an additional 23,933 shares during the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.