bluebird bio (NASDAQ:BLUE) Price Target Cut to $2.00

bluebird bio (NASDAQ:BLUE) had its price target decreased by Wells Fargo & Company from $3.00 to $2.00 in a note issued to investors on Wednesday, Benzinga reports. The brokerage currently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s target price suggests a potential upside of 306.92% from the stock’s current price.

A number of other analysts have also commented on the company. Bank of America decreased their price objective on bluebird bio from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 15th. JPMorgan Chase & Co. downgraded bluebird bio from an “overweight” rating to a “neutral” rating in a report on Thursday, August 15th. Robert W. Baird dropped 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. Barclays reduced their target price on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a research note on Thursday, August 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat.com, bluebird bio has a consensus rating of “Hold” and a consensus target price of $4.63.

bluebird bio Stock Down 1.7 %

Shares of NASDAQ BLUE traded down $0.01 during mid-day trading on Wednesday, reaching $0.49. 2,954,675 shares of the company’s stock traded hands, compared to its average volume of 7,786,662. The company has a debt-to-equity ratio of 0.20, a current ratio of 0.93 and a quick ratio of 0.82. bluebird bio has a 1-year low of $0.46 and a 1-year high of $5.53. The stock has a market cap of $95.31 million, a P/E ratio of -0.65 and a beta of 0.75. The business has a 50-day simple moving average of $0.80 and a 200 day simple moving average of $0.97.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently modified their holdings of the stock. Masters Capital Management LLC bought a new position in bluebird bio during the fourth quarter worth about $1,380,000. Mirae Asset Global Investments Co. Ltd. raised its holdings in bluebird bio by 38.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock worth $416,000 after buying an additional 90,139 shares during the last quarter. Virtu Financial LLC bought a new stake in shares of bluebird bio in the fourth quarter worth approximately $317,000. HBK Investments L P purchased a new position in shares of bluebird bio in the fourth quarter worth approximately $2,070,000. Finally, Vestal Point Capital LP purchased a new stake in bluebird bio in the 4th quarter worth approximately $2,967,000. 87.43% of the stock is owned by 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.