bluebird bio (NASDAQ:BLUE) Price Target Cut to $6.00 by Analysts at Robert W. Baird

bluebird bio (NASDAQ:BLUE) had its price target dropped by equities researchers at Robert W. Baird from $7.00 to $6.00 in a research report issued to clients and investors on Thursday, Benzinga reports. The firm presently has an “outperform” rating on the biotechnology company’s stock.

Separately, JPMorgan Chase & Co. cut bluebird bio from an “overweight” rating to a “neutral” rating in a report on Thursday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have issued a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $5.34.

bluebird bio Price Performance

Shares of BLUE stock opened at $0.81 on Thursday. The stock has a market capitalization of $89.10 million, a PE ratio of -1.10 and a beta of 0.81. bluebird bio has a one year low of $0.79 and a one year high of $5.53. The business’s 50 day simple moving average is $1.03 and its 200 day simple moving average is $1.10.

Hedge Funds Weigh In On bluebird bio

Institutional investors have recently modified their holdings of the company. Allegheny Financial Group LTD acquired a new position in shares of bluebird bio during the second quarter worth approximately $25,000. Dynamic Technology Lab Private Ltd purchased a new stake in bluebird bio in the 4th quarter valued at $37,000. Sequoia Financial Advisors LLC purchased a new stake in bluebird bio in the 4th quarter valued at $37,000. Johnson Investment Counsel Inc. raised its position in bluebird bio by 111.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 27,889 shares of the biotechnology company’s stock valued at $38,000 after buying an additional 14,680 shares during the last quarter. Finally, Enterprise Bank & Trust Co purchased a new stake in bluebird bio in the 1st quarter valued at $38,000. 87.43% of the stock is owned by institutional investors and hedge funds.

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.