Wells Fargo & Company Lowers bluebird bio (NASDAQ:BLUE) Price Target to $5.00

bluebird bio (NASDAQ:BLUE) had its price objective reduced by Wells Fargo & Company from $40.00 to $5.00 in a report published on Monday,Benzinga reports. They currently have an equal weight rating on the biotechnology company’s stock.

A number of other research analysts also recently weighed in on BLUE. Royal Bank of Canada restated a “sector perform” rating and set a $80.00 price target on shares of bluebird bio in a report on Friday, November 15th. Bank of America cut bluebird bio from a “buy” rating to a “neutral” rating and reduced their price target for the stock from $60.00 to $10.00 in a research report on Friday, November 15th. Barclays upped their price target 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. raised bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday. Finally, StockNews.com initiated coverage on bluebird bio in a research report on Friday, December 20th. They set a “sell” rating for the company. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, bluebird bio presently has a consensus rating of “Hold” and a consensus price target of $44.14.

bluebird bio Price Performance

Shares of BLUE opened at $4.05 on Monday. 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 firm has a market cap of $39.37 million, a PE ratio of -0.11 and a beta of 0.68. The firm’s 50 day moving average price is $7.73 and its 200 day moving average price is $9.36. bluebird bio has a twelve month low of $3.56 and a twelve month high of $38.40.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLUE. Geode Capital Management LLC boosted its position 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 valued at $2,433,000 after acquiring an additional 166,771 shares during the period. State Street Corp raised its stake in bluebird bio by 1.1% during the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after purchasing an additional 43,382 shares during the last quarter. FMR LLC boosted its holdings in bluebird bio by 8.1% in the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock valued at $1,289,000 after purchasing an additional 186,903 shares during the period. BNP Paribas Financial Markets grew its position in 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 worth $193,000 after purchasing an additional 355,562 shares during the last quarter. Finally, Barclays PLC increased its holdings in shares of bluebird bio by 273.7% during the 3rd 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 period. 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.