bluebird bio (NASDAQ:BLUE) Cut to “Neutral” at Bank of America

Bank of America lowered shares of bluebird bio (NASDAQ:BLUE) from a buy rating to a neutral rating in a report issued on Friday morning, MarketBeat reports. They currently have $0.50 target price on the biotechnology company’s stock, down from their prior target price of $3.00.

BLUE has been the topic of several other research reports. StockNews.com started coverage on shares of bluebird bio in a research report on Sunday, November 10th. They set a “sell” rating on the stock. JPMorgan Chase & Co. lowered bluebird bio from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 15th. Wells Fargo & Company dropped their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Barclays reduced their price target on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Finally, Robert W. Baird cut their price objective on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, bluebird bio presently has a consensus rating of “Hold” and a consensus price target of $3.03.

bluebird bio Price Performance

NASDAQ:BLUE opened at $0.32 on Friday. bluebird bio has a 52-week low of $0.32 and a 52-week high of $5.53. The stock has a fifty day moving average of $0.49 and a 200 day moving average of $0.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68. The firm has a market capitalization of $62.21 million, a price-to-earnings ratio of -0.17 and a beta of 0.76.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The business had revenue of $18.57 million for the quarter. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 238.15%. On average, research analysts expect that bluebird bio will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

A number of hedge funds and other institutional investors have recently made changes to their positions in BLUE. Mirae Asset Global Investments Co. Ltd. increased its position in bluebird bio by 38.4% during the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock valued at $416,000 after purchasing an additional 90,139 shares during the period. Vanguard Group Inc. raised its stake in bluebird bio by 19.6% in the first quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after buying an additional 1,723,081 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in bluebird bio by 113.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after buying an additional 29,113 shares during the period. American International Group Inc. boosted its position in bluebird bio by 77.4% during the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 41,177 shares in the last quarter. Finally, AQR Capital Management LLC grew its holdings in shares of bluebird bio by 315.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after acquiring an additional 1,013,144 shares during the period. Institutional investors own 87.43% of the company’s stock.

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.