Short Interest in bluebird bio, Inc. (NASDAQ:BLUE) Declines By 8.5%

bluebird bio, Inc. (NASDAQ:BLUE) saw a large decline in short interest during the month of November. As of November 15th, there was short interest totalling 43,640,000 shares, a decline of 8.5% from the October 31st total of 47,710,000 shares. Based on an average trading volume of 6,510,000 shares, the short-interest ratio is currently 6.7 days.

Wall Street Analyst Weigh In

A number of analysts have recently weighed in on BLUE shares. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and dropped their price objective for the company from $3.00 to $0.50 in a research note on Friday, November 15th. Barclays cut their price target on shares of bluebird bio from $4.00 to $2.00 and set an “overweight” rating on the stock in a report on Friday, November 15th. Robert W. Baird decreased their price objective on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research report on Thursday, August 15th. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. Finally, Wells Fargo & Company reduced their price target on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $3.03.

Hedge Funds Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently modified their holdings of BLUE. Allegheny Financial Group LTD bought a new position in bluebird bio in the second quarter valued at about $25,000. Verition Fund Management LLC purchased a new stake in bluebird bio during the third quarter valued at approximately $42,000. SG Americas Securities LLC raised its position 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 acquiring an additional 74,185 shares during the period. Price T Rowe Associates Inc. MD boosted its stake in shares of bluebird bio by 113.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after acquiring an additional 29,113 shares during the last quarter. Finally, Captrust Financial Advisors increased its stake in shares of bluebird bio by 48.2% in the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after purchasing an additional 77,293 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

bluebird bio Price Performance

Shares of BLUE traded down $0.04 during trading hours on Tuesday, hitting $0.37. The company had a trading volume of 4,649,656 shares, compared to its average volume of 7,340,205. The firm has a fifty day moving average price of $0.45 and a 200-day moving average price of $0.73. bluebird bio has a 52-week low of $0.29 and a 52-week high of $5.53. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33.

bluebird bio (NASDAQ:BLUE) last announced 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 for the quarter. On average, research analysts forecast that bluebird bio will post -1.35 EPS for the current fiscal year.

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.