Wells Fargo & Company Has Lowered Expectations for bluebird bio (NASDAQ:BLUE) Stock Price

bluebird bio (NASDAQ:BLUE) had its target price dropped by analysts at Wells Fargo & Company from $40.00 to $5.00 in a note issued to investors on Monday,Benzinga reports. The brokerage presently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 24.38% from the company’s previous close.

A number of other brokerages have also commented on BLUE. Barclays increased their price objective on shares of bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 31st. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price target on shares of bluebird bio in a report on Friday, November 15th. StockNews.com initiated coverage on shares of bluebird bio in a research report on Friday, December 20th. They issued a “sell” rating for the company. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $60.00 to $10.00 in a research report on Friday, November 15th. Finally, JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research report on Monday. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, bluebird bio presently has an average rating of “Hold” and a consensus price target of $44.14.

bluebird bio Price Performance

bluebird bio stock opened at $4.02 on Monday. bluebird bio has a 52 week low of $3.56 and a 52 week high of $38.40. The firm has a market cap of $39.08 million, a P/E ratio of -0.11 and a beta of 0.68. 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 business’s fifty day moving average is $7.73 and its two-hundred day moving average is $9.36.

Institutional Investors Weigh In On bluebird bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SG Americas Securities LLC grew its position in shares of bluebird bio by 152.4% during the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock worth $64,000 after buying an additional 74,185 shares during the period. Regeneron Pharmaceuticals Inc. acquired a new position in bluebird bio during the fourth quarter valued at approximately $175,000. Barclays PLC increased its stake in bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 184,605 shares in the last quarter. Geode Capital Management LLC raised its holdings in 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 worth $2,433,000 after purchasing an additional 166,771 shares during the period. Finally, State Street Corp raised its holdings in bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after purchasing an additional 43,382 shares during the period. Institutional investors own 87.43% of the company’s stock.

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.