bluebird bio (NASDAQ:BLUE) Given New $5.00 Price Target at Wells Fargo & Company

bluebird bio (NASDAQ:BLUE) had its price objective trimmed by Wells Fargo & Company from $40.00 to $5.00 in a research report released on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

BLUE has been the topic of a number of other reports. Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $60.00 to $10.00 in a report on Friday, November 15th. Barclays increased their price objective on bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 31st. StockNews.com initiated coverage on bluebird bio in a report on Friday, December 20th. They issued a “sell” rating on the stock. JPMorgan Chase & Co. raised bluebird bio from an “underweight” rating to a “neutral” rating in a research report on Monday. Finally, Royal Bank of Canada reiterated a “sector perform” rating and issued a $80.00 price target on shares of bluebird bio in a research report on Friday, November 15th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $44.14.

bluebird bio Price Performance

Shares of NASDAQ BLUE opened at $4.05 on Monday. bluebird bio has a twelve month low of $3.56 and a twelve month high of $38.40. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The company has a market capitalization of $39.37 million, a price-to-earnings ratio of -0.11 and a beta of 0.68. The firm has a 50-day moving average of $7.73 and a two-hundred day moving average of $9.36.

Institutional Investors Weigh In On bluebird bio

Hedge funds have recently bought and sold shares of the business. Regeneron Pharmaceuticals Inc. purchased a new position in bluebird bio during the 4th quarter valued at about $175,000. Verition Fund Management LLC purchased a new position in bluebird bio during the third quarter valued at approximately $42,000. SG Americas Securities LLC increased its stake in bluebird bio by 152.4% in the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 74,185 shares during the period. Captrust Financial Advisors lifted its position in bluebird bio by 48.2% in the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after buying an additional 77,293 shares in the last quarter. Finally, Barclays PLC boosted its stake in shares of bluebird bio by 273.7% during the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 184,605 shares during the period. 87.43% of the stock is owned by hedge funds and other 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.