bluebird bio (NASDAQ:BLUE) Shares Down 16.9%

bluebird bio, Inc. (NASDAQ:BLUE)’s share price was down 16.9% on Tuesday . The stock traded as low as $1.07 and last traded at $1.13. Approximately 11,387,917 shares changed hands during trading, an increase of 15% from the average daily volume of 9,874,187 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

Several equities research analysts have commented on BLUE shares. Morgan Stanley upgraded shares of bluebird bio from an “underweight” rating to an “equal weight” rating and increased their target price for the stock from $3.00 to $7.00 in a report on Friday, December 8th. Bank of America lowered their price target on bluebird bio from $12.00 to $5.00 and set a “buy” rating for the company in a report on Thursday, December 21st. Wedbush cut their price target on shares of bluebird bio from $1.72 to $1.68 and set a “neutral” rating on the stock in a research note on Tuesday, March 19th. HSBC reduced their price target on shares of bluebird bio from $2.31 to $1.02 and set a “reduce” rating for the company in a report on Tuesday, March 5th. Finally, Robert W. Baird reduced their target price on shares of bluebird bio from $10.00 to $7.00 and set an “outperform” rating for the company in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, bluebird bio currently has a consensus rating of “Hold” and a consensus price target of $5.87.

bluebird bio Price Performance

The stock has a 50 day simple moving average of $1.24 and a two-hundred day simple moving average of $2.28.

Hedge Funds Weigh In On bluebird bio

A number of institutional investors have recently added to or reduced their stakes in BLUE. The Manufacturers Life Insurance Company grew its position in shares of bluebird bio by 6.2% in the 4th quarter. The Manufacturers Life Insurance Company now owns 31,773 shares of the biotechnology company’s stock valued at $220,000 after acquiring an additional 1,862 shares during the period. Mariner LLC grew its holdings in shares of bluebird bio by 12.8% during the 4th quarter. Mariner LLC now owns 17,972 shares of the biotechnology company’s stock worth $124,000 after purchasing an additional 2,043 shares in the last quarter. American International Group Inc. raised its stake in bluebird bio by 7.1% in the fourth quarter. American International Group Inc. now owns 39,274 shares of the biotechnology company’s stock valued at $272,000 after purchasing an additional 2,609 shares in the last quarter. Captrust Financial Advisors lifted its holdings in shares of bluebird bio by 22.5% during the 3rd quarter. Captrust Financial Advisors now owns 14,679 shares of the biotechnology company’s stock worth $93,000 after acquiring an additional 2,700 shares during the period. Finally, Tower Research Capital LLC TRC boosted its position in shares of bluebird bio by 15.5% during the 2nd quarter. Tower Research Capital LLC TRC now owns 23,160 shares of the biotechnology company’s stock worth $76,000 after acquiring an additional 3,104 shares in 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.