bluebird bio (NASDAQ:BLUE) Price Target Lowered to $3.00 at Bank of America

bluebird bio (NASDAQ:BLUE) had its price objective cut by Bank of America from $4.00 to $3.00 in a report released on Thursday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Other equities analysts have also recently issued reports about the company. Robert W. Baird cut their price target on bluebird bio from $7.00 to $6.00 and set an outperform rating for the company in a report on Thursday. Royal Bank of Canada restated a sector perform rating and issued a $4.00 target price on shares of bluebird bio in a report on Thursday. Barclays lowered their price target on shares of bluebird bio from $8.00 to $4.00 and set an overweight rating for the company in a report on Thursday. Finally, JPMorgan Chase & Co. downgraded shares of bluebird bio from an overweight rating to a neutral rating in a research note on Thursday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, bluebird bio has a consensus rating of Hold and an average target price of $4.74.

bluebird bio Price Performance

BLUE traded up $0.01 during midday trading on Thursday, reaching $0.71. 7,724,019 shares of the company’s stock were exchanged, compared to its average volume of 7,710,082. bluebird bio has a 1-year low of $0.69 and a 1-year high of $5.53. The stock has a market capitalization of $78.07 million, a PE ratio of -0.95 and a beta of 0.81. The business’s 50-day moving average price is $1.03 and its 200 day moving average price is $1.09.

Institutional Investors Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently bought and sold shares of BLUE. Sequoia Financial Advisors LLC grew 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 worth $51,000 after purchasing an additional 13,000 shares in the last quarter. Johnson Investment Counsel Inc. grew its position in shares of bluebird bio by 111.1% in the 4th quarter. Johnson Investment Counsel Inc. now owns 27,889 shares of the biotechnology company’s stock worth $38,000 after acquiring an additional 14,680 shares in the last quarter. Summit X LLC increased its holdings in shares of bluebird bio by 10.2% in the 4th quarter. Summit X LLC now owns 178,952 shares of the biotechnology company’s stock valued at $247,000 after acquiring an additional 16,584 shares during the last quarter. China Universal Asset Management Co. Ltd. raised its position in shares of bluebird bio by 189.2% during the 1st 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 in the last quarter. Finally, Allegheny Financial Group LTD bought a new position in bluebird bio during the second quarter worth $25,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.