bluebird bio (NASDAQ:BLUE) Shares Scheduled to Reverse Split on Friday, December 13th

bluebird bio, Inc. (NASDAQ:BLUE)’s stock is scheduled to reverse split on the morning of Friday, December 13th. The 1-20 reverse split was announced on Wednesday, December 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, December 12th.

bluebird bio Stock Up 2.6 %

Shares of NASDAQ BLUE opened at $0.46 on Monday. bluebird bio has a 1 year low of $0.29 and a 1 year high of $5.53. The firm has a 50-day simple moving average of $0.45 and a two-hundred day simple moving average of $0.72. The company has a market cap of $88.51 million, a P/E ratio of -0.24 and a beta of 0.72. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33.

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

Wall Street Analyst Weigh In

BLUE has been the subject of several research reports. JPMorgan Chase & Co. cut shares of bluebird bio from a “neutral” rating to an “underweight” rating in a research report on Friday, November 15th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Wells Fargo & Company dropped their price objective on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Barclays decreased their target price on bluebird bio from $4.00 to $2.00 and set an “overweight” rating for the company in a research report on Friday, November 15th. Finally, StockNews.com began coverage on bluebird bio in a research report on Wednesday, December 4th. They set a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $2.46.

Hedge Funds Weigh In On bluebird bio

Several institutional investors have recently made changes to their positions in the company. Allegheny Financial Group LTD acquired a new position in bluebird bio in the 2nd quarter worth about $25,000. Verition Fund Management LLC purchased a new stake in shares of bluebird bio in the third quarter valued at approximately $42,000. SG Americas Securities LLC raised its stake in shares of bluebird bio by 152.4% during the 3rd 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. Price T Rowe Associates Inc. MD lifted 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 buying an additional 29,113 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in bluebird bio by 48.2% in the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 77,293 shares during the period. 87.43% of the stock is owned by hedge funds and other institutional investors.

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.