bluebird bio (NASDAQ:BLUE) Shares Cross Below 200-Day Moving Average - Here's What Happened

bluebird bio, Inc. (NASDAQ:BLUE - Get Free Report) shares passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.34 and traded as low as $7.70. bluebird bio shares last traded at $7.75, with a volume of 130,303 shares changing hands.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the company. Royal Bank of Canada reissued a "sector perform" rating and set a $80.00 target price on shares of bluebird bio in a research report on Friday, November 15th. Bank of America cut shares of bluebird bio from a "buy" rating to a "neutral" rating and cut their price objective for the stock from $60.00 to $10.00 in a report on Friday, November 15th. JPMorgan Chase & Co. cut shares of bluebird bio from a "neutral" rating to an "underweight" rating in a report on Friday, November 15th. Barclays lifted their price target on shares of bluebird bio from $2.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 31st. Finally, StockNews.com assumed coverage on shares of bluebird bio in a research note on Friday, December 20th. They issued a "sell" rating for the company. Three analysts have rated the stock with a sell rating, five have given a hold rating and two have given a buy rating to the company. According to data from MarketBeat, bluebird bio currently has an average rating of "Hold" and an average target price of $49.14.

bluebird bio Trading Down 1.0 %

The business's 50 day simple moving average is $8.30 and its 200 day simple moving average is $10.92. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33. The company has a market capitalization of $67.65 million, a price-to-earnings ratio of -0.19 and a beta of 0.68.

Hedge Funds Weigh In On bluebird bio

Institutional investors have recently added to or reduced their stakes in the stock. Verition Fund Management LLC purchased a new position in shares of bluebird bio in the 3rd quarter valued at approximately $42,000. SG Americas Securities LLC lifted its holdings in shares of bluebird bio by 152.4% during 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 during the period. Captrust Financial Advisors grew its position in bluebird bio by 48.2% in the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company's stock valued at $123,000 after buying an additional 77,293 shares during the last quarter. Barclays PLC increased its stake in bluebird bio by 273.7% in the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company's stock valued at $130,000 after buying an additional 184,605 shares during the period. Finally, BNP Paribas Financial Markets raised its position in bluebird bio by 2,270.2% during the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company's stock worth $193,000 after buying an additional 355,562 shares during 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.