bluebird bio (NASDAQ:BLUE) Downgraded by JPMorgan Chase & Co. to “Underweight”

JPMorgan Chase & Co. cut shares of bluebird bio (NASDAQ:BLUE) from a neutral rating to an underweight rating in a research note published on Friday morning, Marketbeat Ratings reports.

A number of other brokerages have also weighed in on BLUE. Cantor Fitzgerald restated a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. Robert W. Baird decreased their price target on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. StockNews.com initiated coverage on bluebird bio in a report on Sunday, November 10th. They issued a “sell” rating on the stock. Bank of America cut bluebird bio from a “buy” rating to a “neutral” rating and decreased their target price for the stock from $3.00 to $0.50 in a research note on Friday. Finally, Wells Fargo & Company dropped their price target on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $3.03.

bluebird bio Stock Performance

Shares of BLUE stock opened at $0.32 on Friday. The firm has a 50 day moving average of $0.49 and a two-hundred day moving average of $0.78. The stock has a market capitalization of $62.21 million, a PE ratio of -0.17 and a beta of 0.76. The company has a quick ratio of 0.57, a current ratio of 0.68 and a debt-to-equity ratio of 0.37. bluebird bio has a 52 week low of $0.32 and a 52 week high of $5.53.

bluebird bio (NASDAQ:BLUE) last released its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 238.15%. The company had revenue of $18.57 million during the quarter. On average, research analysts predict that bluebird bio will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Geode Capital Management LLC increased its holdings in shares of bluebird bio by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after purchasing an additional 166,771 shares in the last quarter. Barclays PLC increased its stake in bluebird bio by 273.7% in the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 184,605 shares in the last quarter. State Street Corp boosted its position in bluebird bio by 1.1% during the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after purchasing an additional 43,382 shares in the last quarter. Verition Fund Management LLC acquired a new stake in bluebird bio in the third quarter valued at $42,000. Finally, Captrust Financial Advisors raised its stake in shares of bluebird bio by 48.2% during the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after buying an additional 77,293 shares during the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.