bluebird bio (NASDAQ:BLUE) Now Covered by StockNews.com

StockNews.com began coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note released on Wednesday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

BLUE has been the subject of a number of other reports. Wells Fargo & Company decreased 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. Royal Bank of Canada restated a “sector perform” rating and set a $80.00 price objective on shares of bluebird bio in a research note on Friday, November 15th. Barclays upped their price objective on bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 31st. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Finally, Bank of America cut bluebird bio from a “buy” rating to a “neutral” rating and decreased their price target for the company from $60.00 to $10.00 in a research note on Friday, November 15th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company’s stock. According to data from MarketBeat, bluebird bio currently has an average rating of “Hold” and an average target price of $48.10.

bluebird bio Price Performance

BLUE opened at $3.86 on Wednesday. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $37.53 million, a price-to-earnings ratio of -0.10 and a beta of 0.76. bluebird bio has a 12-month low of $3.56 and a 12-month high of $30.90. The business’s fifty day simple moving average is $6.67 and its 200-day simple moving average is $8.41.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Geode Capital Management LLC raised its stake in shares of bluebird bio by 3.7% in the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock worth $2,433,000 after purchasing an additional 166,771 shares during the last quarter. State Street Corp raised its stake in shares of bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after purchasing an additional 43,382 shares during the last quarter. FMR LLC raised its stake in shares of bluebird bio by 8.1% in the third quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock worth $1,289,000 after purchasing an additional 186,903 shares during the last quarter. BNP Paribas Financial Markets raised its stake in shares of bluebird bio by 2,270.2% in the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 355,562 shares during the last quarter. Finally, Barclays PLC raised its stake 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 purchasing an additional 184,605 shares during the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.