bluebird bio (NASDAQ:BLUE) Shares Pass Below Two Hundred Day Moving Average – Here’s Why

Shares of bluebird bio, Inc. (NASDAQ:BLUE) crossed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.82 and traded as low as $3.65. bluebird bio shares last traded at $3.79, with a volume of 171,171 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts have issued reports on BLUE shares. StockNews.com assumed coverage on shares of bluebird bio in a research note on Friday. They set a “sell” rating on the stock. Barclays upped their target price on bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 31st. JPMorgan Chase & Co. raised bluebird bio from an “underweight” rating to a “neutral” rating in a research report on Monday, February 24th. Baird R W lowered bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Wells Fargo & Company reduced their price objective on bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $51.00.

bluebird bio Price Performance

The firm has a market cap of $39.67 million, a PE ratio of -0.11 and a beta of 0.76. The stock has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $7.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51.

Institutional Investors Weigh In On bluebird bio

Several hedge funds have recently bought and sold shares of the stock. Regeneron Pharmaceuticals Inc. acquired a new position in shares of bluebird bio in the 4th quarter valued at $175,000. Verition Fund Management LLC purchased a new position in bluebird bio in the third quarter valued at $42,000. Captrust Financial Advisors raised its position in shares of bluebird bio by 48.2% in the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 77,293 shares during the period. Barclays PLC raised its position in shares of bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 184,605 shares during the period. Finally, BNP Paribas Financial Markets boosted its stake in shares of bluebird bio by 2,270.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 355,562 shares in the last quarter. Hedge funds and other 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.