StockNews.com Initiates Coverage on bluebird bio (NASDAQ:BLUE)

StockNews.com assumed coverage on shares of bluebird bio (NASDAQ:BLUE) in a report released on Saturday morning. The brokerage issued a sell rating on the biotechnology company’s stock.

A number of other research firms also recently weighed in on BLUE. JPMorgan Chase & Co. downgraded bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Bank of America cut their price target on bluebird bio from $4.00 to $3.00 and set a “buy” rating on the stock in a research note on Thursday, August 15th. Barclays lowered 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 report on Thursday, August 15th. Cantor Fitzgerald restated a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. Finally, Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 price objective 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 assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $4.63.

bluebird bio Stock Down 2.3 %

NASDAQ:BLUE opened at $0.45 on Friday. The stock’s fifty day moving average price is $0.52 and its two-hundred day moving average price is $0.81. bluebird bio has a 52-week low of $0.45 and a 52-week high of $5.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68. The company has a market cap of $87.72 million, a price-to-earnings ratio of -0.20 and a beta of 0.76.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The firm had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. On average, analysts anticipate that bluebird bio will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the business. Allegheny Financial Group LTD purchased a new position in bluebird bio in the 2nd quarter worth $25,000. Sequoia Financial Advisors LLC lifted its stake in shares of bluebird bio by 48.0% in the first quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock worth $51,000 after buying an additional 13,000 shares in the last quarter. Bayesian Capital Management LP bought a new position in shares of bluebird bio in the first quarter worth approximately $52,000. Price T Rowe Associates Inc. MD raised its holdings 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 valued at $71,000 after purchasing an additional 29,113 shares during the last quarter. Finally, SG Americas Securities LLC raised its holdings in shares of bluebird bio by 458.8% during the first quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 65,710 shares during the last quarter. 87.43% of the stock is owned by 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.