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

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

Other research analysts have also issued reports about the stock. Baird R W lowered shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $80.00 target price on shares of bluebird bio in a report on Friday, November 15th. Wells Fargo & Company lowered 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. JPMorgan Chase & Co. raised shares of bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. Finally, Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and lowered their target price for the company from $60.00 to $10.00 in a report on Friday, November 15th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $48.10.

bluebird bio Trading Up 0.5 %

NASDAQ BLUE opened at $3.96 on Wednesday. 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 firm has a market cap of $38.50 million, a PE ratio of -0.11 and a beta of 0.76. bluebird bio has a one year low of $3.56 and a one year high of $30.90. The firm’s fifty day moving average is $6.76 and its two-hundred day moving average is $8.44.

Institutional Trading of bluebird bio

A number of institutional investors have recently added to or reduced their stakes in the stock. Regeneron Pharmaceuticals Inc. purchased a new stake in bluebird bio during the fourth quarter worth about $175,000. State Street Corp boosted its holdings in bluebird bio by 1.1% during the third 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 in the last quarter. Captrust Financial Advisors boosted its holdings in bluebird bio by 48.2% during the third 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. Verition Fund Management LLC purchased a new stake in bluebird bio during the third quarter worth about $42,000. Finally, Geode Capital Management LLC boosted its holdings in bluebird bio by 3.7% during the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock worth $2,433,000 after buying an additional 166,771 shares in the last quarter. Hedge funds and other 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.