bluebird bio (NASDAQ:BLUE) Now Covered by StockNews.com

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

Other equities research analysts also recently issued research reports about the company. Robert W. Baird dropped their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. Wells Fargo & Company dropped their price objective on 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. Barclays dropped their price objective on bluebird bio from $4.00 to $2.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Cantor Fitzgerald reissued a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Finally, JPMorgan Chase & Co. lowered bluebird bio from a “neutral” rating to an “underweight” rating in a research note on Friday, November 15th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $3.03.

bluebird bio Price Performance

bluebird bio stock opened at $0.41 on Tuesday. The company has a market cap of $78.75 million, a price-to-earnings ratio of -0.22 and a beta of 0.76. The business’s 50 day simple moving average is $0.45 and its 200 day simple moving average is $0.74. bluebird bio has a 12 month low of $0.29 and a 12 month high of $5.53. The company has a current ratio of 0.51, a quick ratio of 0.33 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. 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%. Sell-side analysts forecast that bluebird bio will post -1.35 EPS for the current year.

Institutional Investors Weigh In On bluebird bio

Large investors have recently added to or reduced their stakes in the company. Allegheny Financial Group LTD purchased a new stake in bluebird bio during the second quarter valued at about $25,000. Verition Fund Management LLC purchased a new position in shares of bluebird bio in the third quarter worth about $42,000. Bayesian Capital Management LP purchased a new position in shares of bluebird bio in the first quarter worth about $52,000. SG Americas Securities LLC increased its holdings in shares of bluebird bio by 152.4% in the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock worth $64,000 after buying an additional 74,185 shares during the period. Finally, Price T Rowe Associates Inc. MD increased its holdings in shares of bluebird bio by 113.7% in the first 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. Hedge funds and other 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.