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

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

Other analysts also recently issued reports about the company. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 target price on shares of bluebird bio in a research note on Friday, November 15th. Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and decreased their price objective for the company from $3.00 to $0.50 in a report on Friday, November 15th. Robert W. Baird cut their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company decreased their price target on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Finally, Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $3.03.

bluebird bio Trading Down 2.8 %

Shares of BLUE stock opened at $0.29 on Monday. The company has a market cap of $57.28 million, a P/E ratio of -0.16 and a beta of 0.76. bluebird bio has a fifty-two week low of $0.29 and a fifty-two week high of $5.53. The stock has a 50 day simple moving average of $0.47 and a two-hundred day simple moving average of $0.77. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The company had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. Research analysts forecast that bluebird bio will post -1.35 earnings per share for the current year.

Hedge Funds Weigh In On bluebird bio

Several hedge funds have recently modified their holdings of the company. Allegheny Financial Group LTD bought a new position in bluebird bio during the second quarter valued at about $25,000. Price T Rowe Associates Inc. MD grew its position 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 valued at $71,000 after acquiring an additional 29,113 shares during the period. Bayesian Capital Management LP purchased a new stake in shares of bluebird bio during the 1st quarter worth approximately $52,000. American International Group Inc. raised its holdings in shares of bluebird bio by 77.4% in the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 41,177 shares during the period. Finally, State Street Corp lifted its stake in bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after purchasing an additional 43,382 shares during the last quarter. Institutional investors 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.