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

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

Other analysts have also recently issued reports about the stock. Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and lowered their price target for the company from $3.00 to $0.50 in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a research report on Thursday, August 15th. Robert W. Baird cut their target price on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Barclays cut their target price on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Finally, StockNews.com initiated coverage on shares of bluebird bio in a research note on Sunday, November 10th. They issued a “sell” rating on the stock. Three 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’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.03.

bluebird bio Price Performance

BLUE stock traded down $0.04 during trading on Friday, hitting $0.32. 9,162,727 shares of the company’s stock traded hands, compared to its average volume of 7,439,042. bluebird bio has a 52 week low of $0.32 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 business has a fifty day simple moving average of $0.49 and a 200 day simple moving average of $0.78. The stock has a market capitalization of $62.21 million, a price-to-earnings ratio of -0.14 and a beta of 0.76.

bluebird bio (NASDAQ:BLUE) last announced its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The firm had revenue of $18.57 million during the quarter. bluebird bio had a negative net margin of 567.29% and a negative return on equity of 207.25%. As a group, research analysts expect that bluebird bio will post -1.41 EPS for the current fiscal year.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in the company. Geode Capital Management LLC boosted its stake in shares of bluebird bio by 3.7% during the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after acquiring an additional 166,771 shares during the last quarter. Barclays PLC lifted its stake in shares of 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 raised its holdings in shares of bluebird bio by 1.1% during the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after buying an additional 43,382 shares during the period. Verition Fund Management LLC purchased a new stake in shares of bluebird bio during the 3rd quarter valued at about $42,000. Finally, Captrust Financial Advisors raised its holdings 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 valued at $123,000 after buying an additional 77,293 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.