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

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

A number of other equities analysts have also recently weighed in on the company. Baird R W cut bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Barclays cut their price target on bluebird bio from $40.00 to $8.00 and set an “overweight” rating for the company in a report on Monday, March 31st. Wells Fargo & Company decreased their target price on shares of bluebird bio from $40.00 to $5.00 and set an “equal weight” rating on the stock in a report on Monday, February 24th. Finally, JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $44.60.

bluebird bio Trading Up 1.2 %

Shares of NASDAQ:BLUE opened at $4.95 on Friday. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. bluebird bio has a 52-week low of $3.56 and a 52-week high of $28.60. The business has a 50-day moving average price of $5.23 and a 200-day moving average price of $7.55. The stock has a market cap of $48.46 million, a price-to-earnings ratio of -0.13 and a beta of 0.41.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently made changes to their positions in the business. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of bluebird bio in the 4th quarter valued at about $175,000. Barclays PLC grew its position in bluebird bio by 273.7% during the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after buying an additional 184,605 shares during the period. Geode Capital Management LLC increased its stake in 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 in the last quarter. State Street Corp raised its stake in shares of 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. Finally, BNP Paribas Financial Markets raised its position in bluebird bio by 2,270.2% during the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 355,562 shares during the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.