bluebird bio (NASDAQ:BLUE) Trading Down 13.4% – Should You Sell?

bluebird bio, Inc. (NASDAQ:BLUE)’s share price fell 13.4% during trading on Friday . The stock traded as low as $6.43 and last traded at $6.58. 77,909 shares changed hands during mid-day trading, a decline of 80% from the average session volume of 385,352 shares. The stock had previously closed at $7.60.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the stock. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 target price on shares of bluebird bio in a report on Friday, November 15th. Barclays cut their price objective on shares of bluebird bio from $80.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Bank of America lowered shares of bluebird bio from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $10.00 in a research note on Friday, November 15th. Cantor Fitzgerald restated a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Finally, Wells Fargo & Company lowered their price target on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating on the stock in a research report on Wednesday, September 25th. Three investment analysts have 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. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $49.14.

bluebird bio Stock Down 16.6 %

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 business has a fifty day simple moving average of $8.68 and a two-hundred day simple moving average of $13.99. The company has a market cap of $1.23 billion, a PE ratio of -3.39 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE) last issued its earnings results on Friday, September 13th. The biotechnology company reported ($7.20) EPS for the quarter. The business had revenue of $18.57 million during the quarter. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 322.46%. As a group, equities research analysts predict that bluebird bio, Inc. will post -1.35 earnings per share for the current year.

Institutional Inflows and Outflows

A number of institutional investors have recently bought and sold shares of the business. Barclays PLC grew its position in shares of 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 in the last quarter. Geode Capital Management LLC grew its holdings 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 valued at $2,433,000 after buying an additional 166,771 shares in the last quarter. State Street Corp increased its stake in shares of bluebird bio by 1.1% in the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after acquiring an additional 43,382 shares during the last quarter. Verition Fund Management LLC acquired a new stake in shares of bluebird bio in the 3rd quarter worth $42,000. Finally, Captrust Financial Advisors raised its holdings in shares of bluebird bio by 48.2% during the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 77,293 shares during the period. 87.43% of the stock is 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.