bluebird bio (NASDAQ:BLUE) Shares Cross Below 200 Day Moving Average – Here’s What Happened

bluebird bio, Inc. (NASDAQ:BLUE) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.81 and traded as low as $8.89. bluebird bio shares last traded at $9.02, with a volume of 320,270 shares changing hands.

Analyst Ratings Changes

Several research firms have recently weighed in on BLUE. Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and decreased their price target for the stock from $60.00 to $10.00 in a report on Friday, November 15th. Wells Fargo & Company lowered 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. Barclays boosted their price objective on bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 31st. StockNews.com started coverage on shares of bluebird bio in a research note on Friday, December 20th. They issued a “sell” rating on the stock. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price target on shares of bluebird bio in a research note on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $49.14.

bluebird bio Price Performance

The firm has a market capitalization of $87.69 million, a P/E ratio of -4.82 and a beta of 0.68. The business’s 50-day simple moving average is $8.22 and its 200 day simple moving average is $12.81. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On bluebird bio

Institutional investors and hedge funds have recently made changes to their positions in the business. Barclays PLC boosted its position in bluebird bio by 273.7% during the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 184,605 shares during the period. Geode Capital Management LLC boosted its holdings in bluebird bio by 3.7% during the 3rd 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 grew its position 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 worth $1,996,000 after acquiring an additional 43,382 shares during the last quarter. Verition Fund Management LLC purchased a new position in bluebird bio in the 3rd quarter worth approximately $42,000. Finally, Captrust Financial Advisors lifted its position in bluebird bio by 48.2% in the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 77,293 shares during the last quarter. Institutional investors own 87.43% of the company’s stock.

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.