bluebird bio (NASDAQ:BLUE) Coverage Initiated by Analysts at StockNews.com

StockNews.com started coverage on shares of bluebird bio (NASDAQ:BLUE) in a research report released on Saturday. The firm issued a sell rating on the biotechnology company’s stock.

Other equities research analysts have also recently issued reports about the company. Bank of America dropped their price objective on bluebird bio from $4.00 to $3.00 and set a buy rating for the company in a research note on Thursday, August 15th. Barclays cut their price target on shares of bluebird bio from $8.00 to $4.00 and set an overweight rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered shares of bluebird bio from an overweight rating to a neutral rating in a research note on Thursday, August 15th. Wells Fargo & Company cut their target price on shares of bluebird bio from $3.00 to $2.00 and set an equal weight rating on the stock in a research note on Wednesday, September 25th. Finally, Royal Bank of Canada reiterated a sector perform rating and set a $4.00 target price on shares of bluebird bio in a report on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company’s stock. According to MarketBeat.com, bluebird bio presently has an average rating of Hold and an average price target of $4.63.

bluebird bio Trading Down 8.7 %

Shares of BLUE stock opened at $0.52 on Friday. bluebird bio has a 1-year low of $0.45 and a 1-year high of $5.53. The firm has a market cap of $56.92 million, a PE ratio of -0.70 and a beta of 0.75. The company has a 50-day moving average of $0.68 and a two-hundred day moving average of $0.92. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.82.

Hedge Funds Weigh In On bluebird bio

Large investors have recently bought and sold shares of the stock. Sequoia Financial Advisors LLC lifted its holdings in shares of bluebird bio by 48.0% in the 1st quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock valued at $51,000 after purchasing an additional 13,000 shares during the last quarter. China Universal Asset Management Co. Ltd. lifted its stake in bluebird bio by 189.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 23,933 shares during the last quarter. Allegheny Financial Group LTD purchased a new stake in bluebird bio in the second quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD boosted its holdings in shares of bluebird bio by 113.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after acquiring an additional 29,113 shares during the period. Finally, Enterprise Bank & Trust Co purchased a new position in shares of bluebird bio during the first quarter worth approximately $38,000. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.