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

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

Other analysts also recently issued research reports about the company. Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and dropped their target price for the stock from $3.00 to $0.50 in a research report on Friday, November 15th. Barclays reduced their price objective on shares of bluebird bio from $4.00 to $2.00 and set an “overweight” rating on the stock in a research report on Friday, November 15th. Wells Fargo & Company dropped their price objective 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. Robert W. Baird lowered their price objective on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research note on Thursday, August 15th. Finally, Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $3.03.

bluebird bio Trading Up 2.1 %

NASDAQ BLUE opened at $0.38 on Tuesday. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $73.46 million, a P/E ratio of -0.20 and a beta of 0.76. bluebird bio has a 12 month low of $0.29 and a 12 month high of $5.53. The business has a fifty day simple moving average of $0.45 and a 200 day simple moving average of $0.75.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. The business had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. On average, analysts predict that bluebird bio will post -1.35 EPS for the current fiscal year.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the stock. Vanguard Group Inc. lifted its holdings in bluebird bio by 19.6% during 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 during the period. Geode Capital Management LLC grew its stake in bluebird bio by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after purchasing an additional 166,771 shares during the last quarter. State Street Corp boosted its position in bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after buying an additional 43,382 shares during the last quarter. FMR LLC boosted its holdings in shares of bluebird bio by 8.1% in 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 last quarter. Finally, AQR Capital Management LLC boosted its holdings in bluebird bio by 315.3% in the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after purchasing an additional 1,013,144 shares during the last quarter. 87.43% of the stock is currently owned by 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.