bluebird bio (NASDAQ:BLUE) Now Covered by StockNews.com

Investment analysts at StockNews.com started coverage on shares of bluebird bio (NASDAQ:BLUE) in a research note issued to investors on Thursday. The brokerage set a “sell” rating on the biotechnology company’s stock.

A number of other brokerages also recently commented on BLUE. Robert W. Baird decreased their price target on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company lowered their price objective on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. JPMorgan Chase & Co. lowered shares of bluebird bio from a “neutral” rating to an “underweight” rating in a research note on Friday, November 15th. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and cut their price target for the stock from $3.00 to $0.50 in a report on Friday, November 15th. Finally, Barclays cut their target price on bluebird bio from $4.00 to $2.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Three equities research analysts have 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 data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $2.46.

bluebird bio Stock Performance

Shares of BLUE stock opened at $0.39 on Thursday. The business’s 50-day moving average price is $0.44 and its 200-day moving average price is $0.71. bluebird bio has a 12 month low of $0.29 and a 12 month high of $3.58. 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 market capitalization of $76.14 million, a price-to-earnings ratio of -0.21 and a beta of 0.72.

Shares of bluebird bio are going to reverse split before the market opens on Friday, December 13th. The 1-20 reverse split was announced on Wednesday, December 4th. The number of shares owned by shareholders will be adjusted after the market closes on Thursday, December 12th.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 322.46%. The business had revenue of $18.57 million during the quarter. Equities research analysts forecast that bluebird bio will post -1.35 EPS for the current year.

Institutional Investors Weigh In On bluebird bio

Several institutional investors have recently added to or reduced their stakes in BLUE. Price T Rowe Associates Inc. MD increased its position in shares of bluebird bio by 113.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 29,113 shares during the period. AQR Capital Management LLC increased its stake in shares of bluebird bio by 315.3% during the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after purchasing an additional 1,013,144 shares in the last quarter. Bank of New York Mellon Corp increased its position in bluebird bio by 19.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock valued at $675,000 after buying an additional 111,574 shares in the last quarter. Rhumbline Advisers boosted its holdings in bluebird bio by 25.4% in the second quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock worth $288,000 after acquiring an additional 59,219 shares in the last quarter. Finally, SG Americas Securities LLC boosted its stake in bluebird bio by 152.4% in the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 74,185 shares in the last quarter. Hedge funds and other institutional investors 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.