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

StockNews.com initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note issued to investors on Monday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Several other analysts have also issued reports on the stock. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. Wells Fargo & Company dropped their target price on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Barclays reduced their price target on bluebird bio from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 price objective on shares of bluebird bio in a research note on Friday, November 15th. Finally, Bank of America cut bluebird bio from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.00 to $0.50 in a research report on Friday, November 15th. Three research 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 stock presently has an average rating of “Hold” and a consensus price target of $3.03.

bluebird bio Price Performance

Shares of NASDAQ BLUE opened at $0.31 on Monday. bluebird bio has a fifty-two week low of $0.30 and a fifty-two week high of $5.53. The stock has a market capitalization of $59.32 million, a price-to-earnings ratio of -0.17 and a beta of 0.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33. The business has a 50-day moving average of $0.48 and a 200-day moving average of $0.78.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. The company had revenue of $18.57 million for the quarter. As a group, sell-side analysts predict that bluebird bio will post -1.41 earnings per share for the current fiscal year.

Institutional Trading of bluebird bio

Institutional investors have recently added to or reduced their stakes in the company. Allegheny Financial Group LTD bought a new stake in shares of bluebird bio in the second quarter valued at about $25,000. Price T Rowe Associates Inc. MD boosted its holdings in bluebird bio by 113.7% in 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 purchasing an additional 29,113 shares during the period. Bayesian Capital Management LP acquired a new position in shares of bluebird bio during the 1st quarter worth approximately $52,000. American International Group Inc. increased its holdings in shares of bluebird bio by 77.4% during the first 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 raised its position in shares of 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 buying an additional 43,382 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors.

bluebird bio Company Profile

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.