Birchview Capital LP Lowers Holdings in bluebird bio, Inc. (NASDAQ:BLUE)

Birchview Capital LP lowered its stake in shares of bluebird bio, Inc. (NASDAQ:BLUE) by 29.4% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 321,200 shares of the biotechnology company’s stock after selling 134,000 shares during the period. Birchview Capital LP owned 0.29% of bluebird bio worth $443,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its holdings in bluebird bio by 0.8% during the third quarter. Vanguard Group Inc. now owns 5,617,460 shares of the biotechnology company’s stock worth $17,077,000 after buying an additional 46,216 shares during the period. Ghisallo Capital Management LLC acquired a new position in shares of bluebird bio during the fourth quarter worth $4,347,000. Vestal Point Capital LP acquired a new position in shares of bluebird bio during the fourth quarter worth $2,967,000. Masters Capital Management LLC acquired a new position in shares of bluebird bio during the fourth quarter worth $1,380,000. Finally, Weiss Asset Management LP acquired a new position in shares of bluebird bio during the fourth quarter worth $1,035,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

bluebird bio Price Performance

BLUE stock opened at $0.99 on Thursday. The company’s 50-day simple moving average is $1.00 and its 200-day simple moving average is $1.47. bluebird bio, Inc. has a 52-week low of $0.85 and a 52-week high of $5.53. The firm has a market cap of $108.10 million, a P/E ratio of -1.34 and a beta of 0.81.

Analyst Upgrades and Downgrades

BLUE has been the topic of several research reports. Wells Fargo & Company cut their target price on bluebird bio from $4.00 to $3.00 and set an “equal weight” rating on the stock in a research report on Wednesday, March 27th. HSBC cut their target price on bluebird bio from $2.31 to $1.02 and set a “reduce” rating on the stock in a research report on Tuesday, March 5th. Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 target price on shares of bluebird bio in a research report on Wednesday, March 27th. Wedbush cut their target price on bluebird bio from $1.72 to $1.68 and set a “neutral” rating on the stock in a research report on Tuesday, March 19th. Finally, StockNews.com raised bluebird bio to a “sell” rating in a research report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $5.46.

bluebird bio 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.