Bank of New York Mellon Corp Acquires 111,574 Shares of bluebird bio, Inc. (NASDAQ:BLUE)

Bank of New York Mellon Corp increased its stake in bluebird bio, Inc. (NASDAQ:BLUE) by 19.4% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 685,757 shares of the biotechnology company’s stock after buying an additional 111,574 shares during the quarter. Bank of New York Mellon Corp’s holdings in bluebird bio were worth $675,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. lifted its stake in shares of bluebird bio by 19.6% in the first quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after buying an additional 1,723,081 shares in the last quarter. Ghisallo Capital Management LLC bought a new position in bluebird bio in the 4th quarter valued at approximately $4,347,000. Vestal Point Capital LP purchased a new stake in bluebird bio during the 4th quarter valued at $2,967,000. HBK Investments L P bought a new stake in shares of bluebird bio in the 4th quarter worth $2,070,000. Finally, Masters Capital Management LLC purchased a new position in shares of bluebird bio in the fourth quarter worth $1,380,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

bluebird bio Stock Down 4.4 %

NASDAQ BLUE opened at $0.47 on Monday. bluebird bio, Inc. has a 52 week low of $0.46 and a 52 week high of $5.53. The company has a 50 day moving average price of $0.83 and a 200 day moving average price of $0.99. The firm has a market cap of $51.41 million, a PE ratio of -0.64 and a beta of 0.75.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America reduced their price target on shares of bluebird bio from $4.00 to $3.00 and set a “buy” rating for the company in a research note on Thursday, August 15th. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 target price on shares of bluebird bio in a research report on Thursday, August 15th. Barclays cut their price target on bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Robert W. Baird decreased their price objective on bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Finally, JPMorgan Chase & Co. downgraded bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the stock. According to MarketBeat.com, bluebird bio presently has an average rating of “Hold” and a consensus price target of $4.74.

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.