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

StockNews.com began coverage on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

Other research analysts also recently issued research reports about the stock. Baird R W downgraded shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research report on Monday, February 24th. Wells Fargo & Company dropped their price target 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. Finally, Barclays lifted 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. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $51.00.

bluebird bio Price Performance

Shares of NASDAQ:BLUE opened at $3.79 on Friday. The company has a market capitalization of $36.85 million, a P/E ratio of -0.10 and a beta of 0.76. bluebird bio has a 1-year low of $3.56 and a 1-year high of $28.60. The firm’s 50 day simple moving average is $5.61 and its two-hundred day simple moving average is $7.82. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33.

Institutional Investors Weigh In On bluebird bio

Several large investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC bought a new stake in shares of bluebird bio in the 3rd quarter valued at approximately $42,000. Captrust Financial Advisors raised its holdings in bluebird bio by 48.2% during 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. Barclays PLC lifted its position in 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 buying an additional 184,605 shares during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new position in bluebird bio during the fourth quarter worth $175,000. Finally, BNP Paribas Financial Markets increased its position in bluebird bio by 2,270.2% during the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after acquiring an additional 355,562 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

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.