StockNews.com Begins Coverage on bluebird bio (NASDAQ:BLUE)

StockNews.com assumed coverage on shares of bluebird bio (NASDAQ:BLUE - Free Report) in a report released on Monday. The brokerage issued a sell rating on the biotechnology company's stock.

A number of other research analysts have also weighed in on BLUE. JPMorgan Chase & Co. lowered bluebird bio from a "neutral" rating to an "underweight" rating in a research note on Friday. Royal Bank of Canada reiterated a "sector perform" rating and issued a $4.00 target price on shares of bluebird bio in a research note on Friday. Bank of America cut bluebird bio from a "buy" rating to a "neutral" rating and decreased their price target for the stock from $3.00 to $0.50 in a report on Friday. Wells Fargo & Company dropped their price objective on shares of 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, Cantor Fitzgerald restated a "neutral" rating on shares of bluebird bio in a research note on Monday, September 16th. 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. According to MarketBeat, bluebird bio has a consensus rating of "Hold" and a consensus target price of $3.03.

bluebird bio Price Performance

Shares of BLUE traded up $0.01 during mid-day trading on Monday, reaching $0.33. 3,555,681 shares of the company's stock were exchanged, compared to its average volume of 7,421,781. 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 company has a market cap of $64.57 million, a price-to-earnings ratio of -0.18 and a beta of 0.76. The company has a 50-day simple moving average of $0.49 and a two-hundred day simple moving average of $0.78.

bluebird bio (NASDAQ:BLUE - Get Free Report) last posted its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. The company had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 238.15% and a negative net margin of 565.74%. On average, sell-side analysts predict 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. Allegheny Financial Group LTD bought a new position in shares of bluebird bio in the second quarter worth $25,000. Price T Rowe Associates Inc. MD grew its position in bluebird bio by 113.7% in the 1st 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 in the last quarter. Bayesian Capital Management LP acquired a new position in bluebird bio during the 1st quarter valued at about $52,000. American International Group Inc. raised its position in shares of bluebird bio by 77.4% during the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company's stock worth $121,000 after buying an additional 41,177 shares in the last quarter. Finally, State Street Corp lifted its stake in shares of bluebird bio by 1.1% in the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company's stock worth $1,996,000 after acquiring an additional 43,382 shares during the period. 87.43% of the stock is owned by institutional investors.

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.