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

StockNews.com initiated coverage on shares of bluebird bio (NASDAQ:BLUE) in a research report report published on Saturday. The firm issued a sell rating on the biotechnology company’s stock.

Several other equities analysts have also weighed in on BLUE. JPMorgan Chase & Co. lowered shares of bluebird bio from an “overweight” rating to a “neutral” rating in a research report on Thursday, August 15th. Royal Bank of Canada restated a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a research report on Thursday, August 15th. Barclays reduced their price target on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Wells Fargo & Company reduced their price target on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $4.63.

bluebird bio Stock Performance

Shares of BLUE stock opened at $0.47 on Friday. The firm has a 50-day moving average of $0.52 and a 200-day moving average of $0.82. The company has a market cap of $90.36 million, a P/E ratio of -0.21 and a beta of 0.75. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.57. bluebird bio has a one year low of $0.45 and a one year high of $5.53.

bluebird bio (NASDAQ:BLUE) last announced its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. The firm had revenue of $18.57 million during the quarter. bluebird bio had a negative net margin of 567.29% and a negative return on equity of 207.25%. Equities research analysts forecast that bluebird bio will post -1.41 EPS for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in BLUE. Sequoia Financial Advisors LLC boosted its position in bluebird bio by 48.0% during the first quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock worth $51,000 after purchasing an additional 13,000 shares during the period. Mirae Asset Global Investments Co. Ltd. boosted its position in shares of bluebird bio by 38.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock valued at $416,000 after acquiring an additional 90,139 shares during the period. SG Americas Securities LLC boosted its position in shares of bluebird bio by 458.8% in the first quarter. SG Americas Securities LLC now owns 80,032 shares of the biotechnology company’s stock valued at $102,000 after acquiring an additional 65,710 shares during the period. Vanguard Group Inc. boosted its position in shares of bluebird bio by 19.6% in the first quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock valued at $13,438,000 after acquiring an additional 1,723,081 shares during the period. Finally, American International Group Inc. boosted its position in shares of bluebird bio by 77.4% in the first quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock valued at $121,000 after acquiring an additional 41,177 shares during the period. 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.