bluebird bio (NASDAQ:BLUE) Coverage Initiated by Analysts at StockNews.com

Investment analysts at StockNews.com started coverage on shares of bluebird bio (NASDAQ:BLUE) in a research report issued on Saturday. The firm set a “sell” rating on the biotechnology company’s stock.

Several other research firms have also recently issued reports on BLUE. Royal Bank of Canada reiterated a “sector perform” rating and set a $4.00 target price on shares of bluebird bio in a research 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 report on Thursday, August 15th. Barclays decreased their price objective 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. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. Finally, Bank of America dropped their price target on bluebird bio from $4.00 to $3.00 and set a “buy” rating on the stock in a research report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $4.63.

bluebird bio Price Performance

Shares of bluebird bio stock opened at $0.57 on Friday. The stock’s fifty day moving average is $0.69 and its 200 day moving average is $0.93. The stock has a market cap of $62.32 million, a P/E ratio of -0.77 and a beta of 0.75. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.93. bluebird bio has a one year low of $0.45 and a one year high of $5.53.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Sequoia Financial Advisors LLC lifted its position in bluebird bio by 48.0% in the first quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock valued at $51,000 after buying an additional 13,000 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of bluebird bio by 189.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock worth $47,000 after buying an additional 23,933 shares during the period. Allegheny Financial Group LTD purchased a new stake in shares of bluebird bio during the 2nd quarter worth $25,000. Price T Rowe Associates Inc. MD grew its stake in shares of bluebird bio by 113.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 29,113 shares in the last quarter. Finally, Enterprise Bank & Trust Co purchased a new position in bluebird bio in the first quarter valued at $38,000. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.