bluebird bio (NASDAQ:BLUE) Stock Rating Lowered by Bank of America

Bank of America lowered shares of bluebird bio (NASDAQ:BLUE) from a buy rating to a neutral rating in a report published on Friday morning, Marketbeat Ratings reports. They currently have $0.50 price target on the biotechnology company’s stock, down from their prior price target of $3.00.

BLUE has been the topic of a number of other reports. Barclays lowered their price objective on bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday, August 15th. Robert W. Baird decreased their price target on bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday, August 15th. Wells Fargo & Company decreased their price target 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. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $4.00 price target on shares of bluebird bio in a research note on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have given a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $3.03.

bluebird bio Stock Performance

NASDAQ BLUE traded down $0.04 during trading on Friday, hitting $0.32. The company’s stock had a trading volume of 9,162,727 shares, compared to its average volume of 7,439,042. The firm has a market cap of $62.21 million, a P/E ratio of -0.14 and a beta of 0.76. The company has a quick ratio of 0.57, a current ratio of 0.68 and a debt-to-equity ratio of 0.37. bluebird bio has a 52 week low of $0.32 and a 52 week high of $5.53. The firm has a 50 day moving average price of $0.49 and a 200 day moving average price of $0.78.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. The firm had revenue of $18.57 million for 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 earnings per share for the current fiscal year.

Hedge Funds Weigh In On bluebird bio

A number of institutional investors and hedge funds have recently bought and sold shares of BLUE. Allegheny Financial Group LTD acquired a new position in bluebird bio in the second quarter worth $25,000. Verition Fund Management LLC acquired a new position in bluebird bio in the third quarter worth $42,000. Bayesian Capital Management LP acquired a new position in bluebird bio in the first quarter worth $52,000. SG Americas Securities LLC boosted its stake in bluebird bio by 152.4% in the third 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. Finally, Price T Rowe Associates Inc. MD boosted its stake in bluebird bio by 113.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 29,113 shares in the last quarter. Institutional investors and hedge funds 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.