bluebird bio (NASDAQ:BLUE) PT Lowered to $2.00

bluebird bio (NASDAQ:BLUE) had its price target decreased by equities researchers at Wells Fargo & Company from $3.00 to $2.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm presently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price objective points to a potential upside of 302.01% from the stock’s current price.

Several other brokerages have also recently commented on BLUE. Bank of America decreased their target price on shares of bluebird bio from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Robert W. Baird decreased their target price on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Barclays decreased their target price on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a 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 assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $4.63.

bluebird bio Stock Performance

Shares of BLUE opened at $0.50 on Wednesday. bluebird bio has a one year low of $0.46 and a one year high of $5.53. The company has a 50-day moving average of $0.77 and a two-hundred day moving average of $0.97. The stock has a market cap of $96.47 million, a price-to-earnings ratio of -0.67 and a beta of 0.75. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.82.

Institutional Trading of bluebird bio

A number of institutional investors have recently added to or reduced their stakes in BLUE. Allegheny Financial Group LTD acquired a new stake in bluebird bio in the second quarter valued at approximately $25,000. Dynamic Technology Lab Private Ltd acquired a new stake in bluebird bio in the fourth quarter valued at approximately $37,000. Enterprise Bank & Trust Co acquired a new stake in bluebird bio in the first quarter valued at approximately $38,000. China Universal Asset Management Co. Ltd. lifted its stake 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 acquiring an additional 23,933 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its stake in bluebird bio by 48.0% in the first quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock valued at $51,000 after acquiring an additional 13,000 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

About bluebird bio

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.