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

StockNews.com began coverage on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Friday. The brokerage issued a sell rating on the biotechnology company’s stock.

Several other research firms have also recently issued reports on BLUE. Wells Fargo & Company lowered their price objective 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. Baird R W lowered bluebird bio from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays boosted their price target 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, JPMorgan Chase & Co. raised shares of bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. One analyst has rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.00.

bluebird bio Stock Up 7.7 %

BLUE opened at $4.08 on Friday. The company has a fifty day moving average of $5.53 and a two-hundred day moving average of $7.78. The stock has a market capitalization of $39.67 million, a price-to-earnings ratio of -0.11 and a beta of 0.76. bluebird bio has a fifty-two week low of $3.56 and a fifty-two week high of $28.60. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Regeneron Pharmaceuticals Inc. acquired a new stake in bluebird bio in the fourth quarter valued at $175,000. Verition Fund Management LLC purchased a new position in shares of bluebird bio in the 3rd quarter valued at about $42,000. Captrust Financial Advisors lifted its stake in shares of bluebird bio by 48.2% in the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 77,293 shares during the period. Barclays PLC boosted its holdings in bluebird bio by 273.7% during the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after buying an additional 184,605 shares in the last quarter. Finally, BNP Paribas Financial Markets grew its position in 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 worth $193,000 after buying an additional 355,562 shares during the period. Institutional investors and hedge funds 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.