bluebird bio, Inc. (NASDAQ:BLUE – Get Free Report)’s share price traded down 2.8% during trading on Tuesday after Wedbush lowered their price target on the stock from $3.00 to $1.68. Wedbush currently has a neutral rating on the stock. bluebird bio traded as low as $1.36 and last traded at $1.40. 3,232,472 shares traded hands during trading, a decline of 68% from the average session volume of 10,154,552 shares. The stock had previously closed at $1.44.
BLUE has been the topic of several other research reports. William Blair reaffirmed a “market perform” rating on shares of bluebird bio in a research report on Tuesday, January 9th. Wells Fargo & Company decreased their target price on bluebird bio from $8.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, December 15th. Robert W. Baird dropped their price target on bluebird bio from $10.00 to $7.00 and set an “outperform” rating on the stock in a research report on Tuesday, December 12th. Bank of America lowered their price objective on bluebird bio from $12.00 to $5.00 and set a “buy” rating on the stock in a research note on Thursday, December 21st. Finally, HSBC reduced their target price on shares of bluebird bio from $2.31 to $1.02 and set a “reduce” rating for the company in a research note on Tuesday, March 5th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have issued a buy rating to the company. According to data from MarketBeat, bluebird bio has an average rating of “Hold” and a consensus price target of $6.27.
Institutional Inflows and Outflows
Several institutional investors have recently modified their holdings of BLUE. US Bancorp DE raised its position in shares of bluebird bio by 885.7% during the 2nd quarter. US Bancorp DE now owns 7,511 shares of the biotechnology company’s stock valued at $25,000 after buying an additional 6,749 shares in the last quarter. Raymond James & Associates purchased a new position in shares of bluebird bio in the 1st quarter worth about $50,000. Stifel Financial Corp bought a new position in shares of bluebird bio during the 3rd quarter valued at about $32,000. Penserra Capital Management LLC bought a new stake in bluebird bio in the 1st quarter worth approximately $53,000. Finally, Aigen Investment Management LP purchased a new stake in bluebird bio in the third quarter worth approximately $34,000. 87.43% of the stock is currently owned by institutional investors.
bluebird bio Stock Down 1.7 %
The firm has a market capitalization of $154.72 million, a P/E ratio of -1.89 and a beta of 0.75. The business’s 50-day simple moving average is $1.25 and its 200 day simple moving average is $2.39.
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.