bluebird bio (NASDAQ:BLUE) Stock Price Crosses Below Two Hundred Day Moving Average of $1.23

bluebird bio, Inc. (NASDAQ:BLUE) shares crossed below its two hundred day moving average during trading on Friday . The stock has a two hundred day moving average of $1.23 and traded as low as $0.92. bluebird bio shares last traded at $0.98, with a volume of 8,509,356 shares.

Analyst Upgrades and Downgrades

BLUE has been the subject of several research reports. Wells Fargo & Company decreased their target price on bluebird bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research report on Wednesday, March 27th. HSBC cut their price target on bluebird bio from $2.31 to $1.02 and set a “reduce” rating on the stock in a report on Tuesday, March 5th. Wedbush cut their price target on bluebird bio from $1.72 to $1.68 and set a “neutral” rating on the stock in a report on Tuesday, March 19th. StockNews.com raised bluebird bio to a “sell” rating in a report on Thursday, March 28th. Finally, Royal Bank of Canada reissued a “sector perform” rating and issued a $6.00 price target on shares of bluebird bio in a report on Wednesday, March 27th. Two equities research analysts have rated the stock with a sell rating, six have issued a hold rating and three have assigned a buy rating to the company’s stock. Based on data from MarketBeat, bluebird bio has an average rating of “Hold” and an average price target of $5.46.

bluebird bio Stock Performance

The firm has a 50 day simple moving average of $0.96 and a two-hundred day simple moving average of $1.23. The stock has a market cap of $107.61 million, a P/E ratio of -1.33 and a beta of 0.81.

Institutional Trading of bluebird bio

Several hedge funds have recently added to or reduced their stakes in the business. Vanguard Group Inc. raised its stake in shares of bluebird bio by 19.6% in 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 in the last quarter. Ghisallo Capital Management LLC bought a new stake in shares of bluebird bio in the 4th quarter worth $4,347,000. Vestal Point Capital LP bought a new stake in shares of bluebird bio in the 4th quarter worth $2,967,000. HBK Investments L P bought a new stake in shares of bluebird bio in the 4th quarter worth $2,070,000. Finally, Masters Capital Management LLC bought a new stake in shares of bluebird bio in the 4th quarter worth $1,380,000. 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.