bluebird bio, Inc. (NASDAQ:BLUE) Sees Large Drop in Short Interest

bluebird bio, Inc. (NASDAQ:BLUE) was the recipient of a significant decline in short interest in the month of December. As of December 31st, there was short interest totalling 2,410,000 shares, a decline of 6.6% from the December 15th total of 2,580,000 shares. Approximately 25.0% of the company’s shares are sold short. Based on an average daily trading volume, of 405,100 shares, the short-interest ratio is currently 5.9 days.

bluebird bio Stock Performance

bluebird bio stock traded up $0.09 during trading hours on Friday, hitting $8.35. 109,879 shares of the stock traded hands, compared to its average volume of 426,810. The firm’s 50-day moving average price is $8.12 and its two-hundred day moving average price is $12.18. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. bluebird bio has a one year low of $5.80 and a one year high of $38.40.

Analysts Set New Price Targets

Several research analysts have recently commented on BLUE shares. Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 price objective on shares of bluebird bio in a report on Friday, November 15th. Wells Fargo & Company reduced their price target on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and reduced their price target for the company from $60.00 to $10.00 in a report on Friday, November 15th. JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 15th. Finally, StockNews.com started coverage on bluebird bio in a report on Friday, December 20th. They set a “sell” rating on the stock. Three research analysts have rated the stock with a sell rating, five have issued a hold rating and two have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, bluebird bio has an average rating of “Hold” and an average price target of $49.14.

Institutional Trading of bluebird bio

Large investors have recently bought and sold shares of the company. Bank of New York Mellon Corp boosted its position in shares of bluebird bio by 19.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock worth $675,000 after purchasing an additional 111,574 shares in the last quarter. Rhumbline Advisers boosted its position in shares of bluebird bio by 25.4% in the 2nd quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 59,219 shares in the last quarter. AQR Capital Management LLC boosted its position in shares of bluebird bio by 315.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after purchasing an additional 1,013,144 shares in the last quarter. SG Americas Securities LLC boosted its position 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 worth $64,000 after purchasing an additional 74,185 shares in the last quarter. Finally, FMR LLC boosted its position in shares of bluebird bio by 8.1% in the 3rd 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 in the last quarter. 87.43% of the stock is owned by 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.