Summit X LLC Sells 530,187 Shares of bluebird bio, Inc. (NASDAQ:BLUE)

Summit X LLC trimmed its position in bluebird bio, Inc. (NASDAQ:BLUE) by 93.4% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 37,644 shares of the biotechnology company’s stock after selling 530,187 shares during the quarter. Summit X LLC owned about 0.39% of bluebird bio worth $314,000 at the end of the most recent reporting period.

Other large investors have also recently made changes to their positions in the company. BNP Paribas Financial Markets boosted its position in shares of bluebird bio by 2,270.2% during the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 355,562 shares during the period. FMR LLC boosted its position in shares of bluebird bio by 8.1% during the third quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock valued at $1,289,000 after buying an additional 186,903 shares during the period. Barclays PLC boosted its position in shares of bluebird bio by 273.7% during the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 184,605 shares during the period. Geode Capital Management LLC boosted its position in shares of bluebird bio by 3.7% during the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after buying an additional 166,771 shares during the period. Finally, Verition Fund Management LLC purchased a new position in shares of bluebird bio during the third quarter valued at approximately $42,000. 87.43% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several research analysts have issued reports on the company. Barclays boosted their target price on bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 31st. Royal Bank of Canada restated a “sector perform” rating and set a $80.00 target price on shares of bluebird bio in a research report on Friday, November 15th. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and lowered their price target for the company from $60.00 to $10.00 in a report on Friday, November 15th. Baird R W lowered bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.10.

bluebird bio Stock Performance

Shares of NASDAQ:BLUE opened at $3.86 on Thursday. The company has a market capitalization of $37.53 million, a price-to-earnings ratio of -0.10 and a beta of 0.76. bluebird bio, Inc. has a 52 week low of $3.56 and a 52 week high of $30.90. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. The firm has a 50 day moving average of $6.67 and a 200 day moving average of $8.41.

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.