StockNews.com Begins Coverage on bluebird bio (NASDAQ:BLUE)

StockNews.com started coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note issued to investors on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Several other equities research analysts have also commented on the company. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $60.00 to $10.00 in a research note on Friday, November 15th. Wells Fargo & Company cut their price objective on bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Barclays boosted their price objective on bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 31st. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price objective on shares of bluebird bio in a research note on Friday, November 15th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $48.10.

bluebird bio Price Performance

NASDAQ:BLUE opened at $4.00 on Tuesday. bluebird bio has a 12 month low of $3.56 and a 12 month high of $33.20. The stock has a 50 day moving average of $7.11 and a two-hundred day moving average of $8.75. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The firm has a market cap of $38.89 million, a P/E ratio of -0.11 and a beta of 0.76.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in BLUE. FMR LLC boosted its holdings in shares of bluebird bio by 8.1% during the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock worth $1,289,000 after purchasing an additional 186,903 shares during the last quarter. BNP Paribas Financial Markets lifted its holdings in bluebird bio by 2,270.2% in the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 355,562 shares during the last quarter. Captrust Financial Advisors lifted its holdings in bluebird bio by 48.2% in the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 77,293 shares during the last quarter. Verition Fund Management LLC acquired a new position in bluebird bio in the third quarter valued at approximately $42,000. Finally, State Street Corp lifted its holdings in bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after acquiring an additional 43,382 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.