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

StockNews.com began coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note issued on Tuesday. The brokerage set a “sell” rating on the biotechnology company’s stock.

Other equities research analysts also recently issued research reports about the company. JPMorgan Chase & Co. raised bluebird bio from an “underweight” rating to a “neutral” rating in a research report on Monday, February 24th. Barclays lowered 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 lowered their price target on bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Finally, Baird R W downgraded bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One investment analyst has rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to MarketBeat.com, bluebird bio presently has an average rating of “Hold” and a consensus target price of $44.60.

bluebird bio Price Performance

Shares of BLUE stock opened at $4.08 on Tuesday. bluebird bio has a 1-year low of $3.56 and a 1-year high of $28.60. The stock’s 50-day moving average is $4.23 and its 200 day moving average is $6.80. The company has a market cap of $39.94 million, a P/E ratio of -0.11 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.

Institutional Inflows and Outflows

Several institutional investors have recently modified their holdings of the company. Bank of New York Mellon Corp raised its stake in shares of bluebird bio by 12.7% in the first quarter. Bank of New York Mellon Corp now owns 32,759 shares of the biotechnology company’s stock worth $160,000 after purchasing an additional 3,686 shares during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new position in shares of bluebird bio in the fourth quarter worth about $175,000. Barclays PLC raised 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 valued at $130,000 after acquiring an additional 184,605 shares in the last quarter. Geode Capital Management LLC raised its position 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 valued at $2,433,000 after acquiring an additional 166,771 shares in the last quarter. Finally, State Street Corp raised its position 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 valued at $1,996,000 after acquiring an additional 43,382 shares in the last quarter. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.