StockNews.com Initiates Coverage on bluebird bio (NASDAQ:BLUE)

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

Several other analysts have also recently weighed in on the company. Barclays lowered their price target on bluebird bio from $40.00 to $8.00 and set an “overweight” rating on the stock in a report on Monday, March 31st. 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 research note on Monday, February 24th. Baird R W lowered shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised shares of bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $44.60.

bluebird bio Stock Performance

NASDAQ BLUE opened at $4.95 on Friday. The company’s 50 day simple moving average is $5.23 and its two-hundred day simple moving average is $7.51. The stock has a market capitalization of $48.46 million, a PE ratio of -0.13 and a beta of 0.41. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33. bluebird bio has a 1 year low of $3.56 and a 1 year high of $28.60.

Hedge Funds Weigh In On bluebird bio

A number of large investors have recently added to or reduced their stakes in the business. BNP Paribas Financial Markets grew its stake in shares of 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 valued at $193,000 after buying an additional 355,562 shares during the last quarter. FMR LLC boosted its holdings in bluebird bio by 8.1% during the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock valued at $1,289,000 after acquiring an additional 186,903 shares during the period. Barclays PLC grew its position in bluebird bio by 273.7% during the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 184,605 shares during the last quarter. 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 worth $2,433,000 after purchasing an additional 166,771 shares during the period. Finally, Verition Fund Management LLC bought a new stake in bluebird bio in the third quarter valued at approximately $42,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.