bluebird bio (NASDAQ:BLUE) Shares to Reverse Split on Friday, December 13th

bluebird bio, Inc. (NASDAQ:BLUE)’s stock is going to reverse split before the market opens on Friday, December 13th. The 1-20 reverse split was announced on Wednesday, December 4th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, December 12th.

bluebird bio Stock Down 39.7 %

BLUE stock traded down $0.29 during trading on Thursday, hitting $0.44. 26,526,188 shares of the company’s stock traded hands, compared to its average volume of 7,749,790. The business has a fifty day simple moving average of $0.45 and a two-hundred day simple moving average of $0.73. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. bluebird bio has a 1 year low of $0.29 and a 1 year high of $5.53. The firm has a market capitalization of $86.29 million, a P/E ratio of -0.24 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. The firm had revenue of $18.57 million during the quarter. Sell-side analysts anticipate that bluebird bio will post -1.35 EPS for the current year.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the stock. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price objective on shares of bluebird bio in a report on Friday, November 15th. Robert W. Baird dropped their price objective on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company dropped their price objective on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Barclays dropped their price objective on shares of bluebird bio from $4.00 to $2.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Finally, JPMorgan Chase & Co. lowered shares of bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 15th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, bluebird bio currently has a consensus rating of “Hold” and an average target price of $3.03.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. Allegheny Financial Group LTD acquired a new position in shares of bluebird bio during the 2nd quarter worth about $25,000. Price T Rowe Associates Inc. MD grew its stake in bluebird bio by 113.7% during the 1st 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 in the last quarter. Verition Fund Management LLC purchased a new stake in bluebird bio during the 3rd quarter valued at about $42,000. SG Americas Securities LLC grew its stake in shares of bluebird bio by 152.4% in the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 74,185 shares during the period. Finally, Captrust Financial Advisors grew its stake in shares of bluebird bio by 48.2% in the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after buying an additional 77,293 shares during the period. 87.43% of the stock is currently 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.