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

StockNews.com started coverage on shares of bluebird bio (NASDAQ:BLUE) in a report released on Thursday. The firm set a “sell” rating on the biotechnology company’s stock.

Several other equities analysts have also commented on the company. Wells Fargo & Company dropped their target price on 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. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. Barclays raised their target price on bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 31st. Finally, Baird R W downgraded bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, bluebird bio has an average rating of “Hold” and a consensus price target of $51.00.

bluebird bio Trading Down 0.3 %

NASDAQ BLUE opened at $3.93 on Thursday. bluebird bio has a 52 week low of $3.56 and a 52 week high of $29.80. The firm has a 50 day moving average of $6.15 and a two-hundred day moving average of $8.11. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market capitalization of $38.21 million, a PE ratio of -0.11 and a beta of 0.76.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLUE. Regeneron Pharmaceuticals Inc. acquired a new position in shares of bluebird bio in the 4th quarter valued at $175,000. Barclays PLC increased its stake in bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 184,605 shares during the period. Geode Capital Management LLC raised its holdings in shares of bluebird bio by 3.7% in 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 buying an additional 166,771 shares during the last quarter. State Street Corp raised its holdings in shares of 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. Finally, Verition Fund Management LLC acquired a new stake in shares of bluebird bio during the third quarter worth about $42,000. Institutional investors and hedge funds 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.