bluebird bio (NASDAQ:BLUE) Receives New Coverage from Analysts at StockNews.com

Equities researchers at StockNews.com assumed coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note issued on Thursday. The brokerage set a “sell” rating on the biotechnology company’s stock.

BLUE has been the subject of several other reports. Robert W. Baird cut their price objective on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. JPMorgan Chase & Co. cut bluebird bio from an “overweight” rating to a “neutral” rating in a report on Thursday, August 15th. Barclays reduced their target price on bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Finally, Bank of America lowered their price target on bluebird bio from $4.00 to $3.00 and set a “buy” rating for the company in a report on Thursday, August 15th. Two investment analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the stock. According to data from MarketBeat, bluebird bio has an average rating of “Hold” and a consensus price target of $4.63.

bluebird bio Stock Performance

Shares of bluebird bio stock opened at $0.49 on Thursday. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.57. The stock’s 50 day simple moving average is $0.58 and its 200-day simple moving average is $0.87. The stock has a market cap of $53.66 million, a P/E ratio of -0.66 and a beta of 0.75. bluebird bio has a 1-year low of $0.45 and a 1-year high of $5.53.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. The company had revenue of $18.57 million for the quarter. Analysts predict that bluebird bio will post -1.42 EPS for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

Several institutional investors have recently bought and sold shares of the company. Vanguard Group Inc. boosted 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 valued at $13,438,000 after purchasing an additional 1,723,081 shares during the period. AQR Capital Management LLC boosted its position in bluebird bio by 315.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after buying an additional 1,013,144 shares during the period. Bank of New York Mellon Corp grew its stake in shares of bluebird bio by 19.4% in the second quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock worth $675,000 after acquiring an additional 111,574 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its position in shares of bluebird bio by 38.4% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock worth $416,000 after acquiring an additional 90,139 shares during the period. Finally, Rhumbline Advisers raised its stake in shares of bluebird bio by 25.4% in the second quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock valued at $288,000 after acquiring an additional 59,219 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.