Brokerages Set bluebird bio, Inc. (NASDAQ:BLUE) PT at $49.14

bluebird bio, Inc. (NASDAQ:BLUE) has received an average recommendation of “Hold” from the nine analysts that are covering the firm, Marketbeat.com reports. Two analysts have rated the stock with a sell rating, five have assigned a hold rating and two have assigned a buy rating to the company. The average 12 month price objective among brokers that have updated their coverage on the stock in the last year is $49.14.

Several equities research analysts recently issued reports on the company. Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and cut their price objective for the company from $60.00 to $10.00 in a report on Friday, November 15th. Wells Fargo & Company reduced their price target on shares of bluebird bio from $60.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Royal Bank of Canada reissued a “sector perform” rating and issued a $80.00 price objective on shares of bluebird bio in a research note on Friday, November 15th. StockNews.com began coverage on shares of bluebird bio in a research note on Friday, December 20th. They set a “sell” rating on the stock. Finally, JPMorgan Chase & Co. cut shares of bluebird bio from a “neutral” rating to an “underweight” rating in a research report on Friday, November 15th.

bluebird bio Trading Down 5.7 %

BLUE opened at $8.01 on Friday. The stock has a market capitalization of $77.87 million, a PE ratio of -4.28 and a beta of 0.68. bluebird bio has a one year low of $5.80 and a one year high of $38.40. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. The business’s 50 day moving average price is $8.11 and its 200 day moving average price is $12.36.

Institutional Investors Weigh In On bluebird bio

Hedge funds and other institutional investors have recently bought and sold shares of the stock. Barclays PLC boosted its stake in bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after acquiring an additional 184,605 shares in the last quarter. Geode Capital Management LLC boosted its position in shares of bluebird bio by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after purchasing an additional 166,771 shares during the period. State Street Corp grew its stake in bluebird bio by 1.1% during the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after buying an additional 43,382 shares during the last quarter. Verition Fund Management LLC acquired a new position in bluebird bio during the third quarter worth approximately $42,000. Finally, Captrust Financial Advisors lifted its stake in bluebird bio by 48.2% in the third 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 last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.