StockNews.com Begins Coverage on bluebird bio (NASDAQ:BLUE)

StockNews.com started coverage on shares of bluebird bio (NASDAQ:BLUE) in a note issued to investors on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

A number of other analysts have also recently commented on the company. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price target on shares of bluebird bio in a research report on Friday, November 15th. Baird R W cut bluebird bio from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Barclays lifted their price target on bluebird bio from $2.00 to $40.00 and gave the stock 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. 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 analyst has rated the stock with a sell rating, seven have assigned a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $48.10.

bluebird bio Stock Performance

Shares of BLUE opened at $4.00 on Tuesday. The stock has a 50-day moving average of $7.11 and a two-hundred day moving average of $8.75. bluebird bio has a one year low of $3.56 and a one year high of $33.20. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. The stock has a market cap of $38.89 million, a P/E ratio of -0.11 and a beta of 0.76.

Hedge Funds Weigh In On bluebird bio

Institutional investors have recently modified their holdings of the stock. Regeneron Pharmaceuticals Inc. purchased a new position in shares of bluebird bio in the 4th quarter valued at about $175,000. Verition Fund Management LLC purchased a new position in shares of bluebird bio in the 3rd quarter valued at about $42,000. Captrust Financial Advisors increased 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 purchasing an additional 77,293 shares in the last quarter. Barclays PLC increased its stake in shares of bluebird bio by 273.7% in the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 184,605 shares in the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of bluebird bio by 2,270.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after purchasing 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.