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

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

Other equities research analysts have also issued research reports about the company. JPMorgan Chase & Co. lowered bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Robert W. Baird dropped their price target 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. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a research note on Thursday, August 15th. Cantor Fitzgerald restated a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Finally, Barclays dropped their price target on bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $3.59.

bluebird bio Stock Down 3.7 %

NASDAQ:BLUE opened at $0.38 on Friday. bluebird bio has a twelve month low of $0.34 and a twelve month high of $5.53. The company has a market cap of $72.97 million, a price-to-earnings ratio of -0.17 and a beta of 0.76. The stock has a fifty day simple moving average of $0.49 and a 200-day simple moving average of $0.79. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37.

bluebird bio (NASDAQ:BLUE) last posted 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 567.29% and a negative return on equity of 207.25%. The company had revenue of $18.57 million during the quarter. Analysts anticipate that bluebird bio will post -1.41 EPS for the current year.

Institutional Inflows and Outflows

A number of large investors have recently bought and sold shares of BLUE. Mirae Asset Global Investments Co. Ltd. lifted 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 valued at $416,000 after acquiring an additional 90,139 shares during the period. SG Americas Securities LLC raised its stake in shares of bluebird bio by 458.8% during the 1st quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock worth $102,000 after buying an additional 65,710 shares during the period. Vanguard Group Inc. raised its stake in shares of bluebird bio by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after buying an additional 1,723,081 shares during the period. American International Group Inc. raised its stake in shares of bluebird bio by 77.4% during the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock worth $121,000 after buying an additional 41,177 shares during the period. Finally, Price T Rowe Associates Inc. MD raised its stake in shares of bluebird bio by 113.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after buying an additional 29,113 shares during the period. 87.43% of the stock is owned by institutional investors and hedge funds.

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.