bluebird bio (NASDAQ:BLUE) Stock Crosses Below 200-Day Moving Average – Here’s Why

bluebird bio, Inc. (NASDAQ:BLUE)’s stock price passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $7.82 and traded as low as $3.65. bluebird bio shares last traded at $3.79, with a volume of 171,171 shares.

Analysts Set New Price Targets

A number of research firms recently issued reports on BLUE. JPMorgan Chase & Co. raised shares of bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. StockNews.com assumed coverage on shares of bluebird bio in a research note on Friday. They set a “sell” rating on the stock. Baird R W lowered bluebird bio from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Barclays lifted their target price on bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 31st. Finally, Wells Fargo & Company reduced their price target on bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a research report on Monday, February 24th. One analyst has rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $51.00.

bluebird bio Stock Performance

The company has a market cap of $36.85 million, a PE ratio of -0.10 and a beta of 0.76. 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’s 50 day moving average is $5.61 and its two-hundred day moving average is $7.82.

Hedge Funds Weigh In On bluebird bio

Several large investors have recently made changes to their positions in the business. Verition Fund Management LLC purchased a new position in shares of bluebird bio in the third quarter worth $42,000. Captrust Financial Advisors increased its holdings in bluebird bio by 48.2% in the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after acquiring an additional 77,293 shares during the last quarter. Barclays PLC increased its holdings in bluebird bio by 273.7% in the 3rd 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 during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new stake in bluebird bio in the 4th quarter worth $175,000. Finally, BNP Paribas Financial Markets boosted its holdings in shares of bluebird bio by 2,270.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 355,562 shares during 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.