bluebird bio (NASDAQ:BLUE) Now Covered by Analysts at StockNews.com

StockNews.com initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a report published on Friday morning. The firm issued a sell rating on the biotechnology company’s stock.

A number of other research analysts also recently issued reports on the company. Wells Fargo & Company cut their price target on bluebird bio from $40.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Barclays increased their price target on shares of bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 31st. Finally, Baird R W cut shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $51.00.

bluebird bio Stock Performance

Shares of BLUE stock opened at $4.08 on Friday. The firm has a market cap of $39.67 million, a price-to-earnings ratio of -0.11 and a beta of 0.76. bluebird bio has a 52-week low of $3.56 and a 52-week high of $28.60. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. The company’s 50 day moving average is $5.53 and its 200 day moving average is $7.78.

Hedge Funds Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. FMR LLC increased its stake in bluebird bio by 8.1% during 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 in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of bluebird bio by 2,270.2% during the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 355,562 shares during the last quarter. Captrust Financial Advisors increased its position in shares of bluebird bio by 48.2% in the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 77,293 shares during the period. Verition Fund Management LLC purchased a new position in bluebird bio in the 3rd quarter worth $42,000. Finally, State Street Corp lifted 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 period. 87.43% of the stock is owned by hedge funds and other 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.