bluebird bio (NASDAQ:BLUE) Earns Sell Rating from Analysts at StockNews.com

StockNews.com assumed coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note released on Wednesday. The brokerage issued a sell rating on the biotechnology company’s stock.

BLUE has been the topic of several other research reports. Wells Fargo & Company dropped 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. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Baird R W cut bluebird bio from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, Barclays lowered their target price on shares of bluebird bio from $40.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $44.60.

bluebird bio Stock Down 5.9 %

Shares of NASDAQ:BLUE opened at $3.49 on Wednesday. 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 50 day simple moving average of $4.22 and a 200-day simple moving average of $6.51. The company has a market capitalization of $34.17 million, a PE ratio of -0.09 and a beta of 0.27. bluebird bio has a twelve month low of $3.48 and a twelve month high of $28.60.

Hedge Funds Weigh In On bluebird bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC lifted its stake in shares of 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 worth $2,433,000 after acquiring an additional 166,771 shares during the period. Barclays PLC lifted its position 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. Bank of New York Mellon Corp boosted its holdings in bluebird bio by 12.7% in the 1st quarter. Bank of New York Mellon Corp now owns 32,759 shares of the biotechnology company’s stock valued at $160,000 after purchasing an additional 3,686 shares in the last quarter. Finally, Regeneron Pharmaceuticals Inc. acquired a new position in bluebird bio during the 4th quarter worth approximately $175,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.