Wells Fargo & Company Trims bluebird bio (NASDAQ:BLUE) Target Price to $2.00

bluebird bio (NASDAQ:BLUE) had its target price cut by Wells Fargo & Company from $3.00 to $2.00 in a report published on Wednesday morning, Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

Several other brokerages also recently issued reports on BLUE. Barclays cut their price objective on bluebird bio from $8.00 to $4.00 and set an overweight rating for the company in a research report on Thursday, August 15th. JPMorgan Chase & Co. downgraded shares of bluebird bio from an overweight rating to a neutral rating in a research report on Thursday, August 15th. Bank of America decreased their price objective on shares of bluebird bio from $4.00 to $3.00 and set a buy rating on the stock in a report on Thursday, August 15th. Royal Bank of Canada reiterated a sector perform rating and set a $4.00 target price on shares of bluebird bio in a research report on Thursday, August 15th. Finally, Robert W. Baird decreased their price target on shares of bluebird bio from $7.00 to $6.00 and set an outperform rating on the stock in a research note on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat, bluebird bio has an average rating of Hold and a consensus target price of $4.63.

bluebird bio Stock Performance

NASDAQ:BLUE opened at $0.50 on Wednesday. The stock has a market capitalization of $55.15 million, a P/E ratio of -0.68 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. bluebird bio has a 1 year low of $0.46 and a 1 year high of $5.53. The firm has a 50 day moving average of $0.76 and a 200-day moving average of $0.96.

Institutional Trading of bluebird bio

Several institutional investors and hedge funds have recently made changes to their positions in the business. Vanguard Group Inc. increased its stake in shares of bluebird bio by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock valued at $13,438,000 after acquiring an additional 1,723,081 shares during the last quarter. Ghisallo Capital Management LLC bought a new stake in bluebird bio in the fourth quarter valued at approximately $4,347,000. Vestal Point Capital LP acquired a new stake in bluebird bio in the fourth quarter worth $2,967,000. HBK Investments L P acquired a new stake in bluebird bio in the fourth quarter worth $2,070,000. Finally, AQR Capital Management LLC boosted its position in shares of bluebird bio by 315.3% during the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after purchasing an additional 1,013,144 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

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.