bluebird bio (NASDAQ:BLUE) Cut to “Underweight” at JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of bluebird bio (NASDAQ:BLUE) from a neutral rating to an underweight rating in a report published on Friday, MarketBeat reports.

A number of other equities analysts have also recently commented on the company. Bank of America cut bluebird bio from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.00 to $0.50 in a report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Wells Fargo & Company decreased their price target on shares of 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. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a research report on Thursday, August 15th. Finally, Barclays decreased their target price on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.03.

bluebird bio Trading Down 11.5 %

bluebird bio stock opened at $0.32 on Friday. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37. The stock’s 50 day simple moving average is $0.49 and its two-hundred day simple moving average is $0.78. bluebird bio has a 12 month low of $0.32 and a 12 month high of $5.53. The firm has a market cap of $62.21 million, a PE ratio of -0.17 and a beta of 0.76.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The company 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%. Analysts anticipate that bluebird bio will post -1.41 earnings per share for the current year.

Hedge Funds Weigh In On bluebird bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. raised its position in shares of 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 buying an additional 90,139 shares during the period. SG Americas Securities LLC raised its position in bluebird bio by 458.8% in the first quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock valued at $102,000 after purchasing an additional 65,710 shares during the period. Vanguard Group Inc. lifted its stake in shares of bluebird bio by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock valued at $13,438,000 after purchasing an additional 1,723,081 shares during the last quarter. American International Group Inc. grew its holdings in shares of bluebird bio by 77.4% during the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 41,177 shares during the period. Finally, Price T Rowe Associates Inc. MD grew its holdings 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 worth $71,000 after purchasing an additional 29,113 shares during the period. 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.