bluebird bio (NASDAQ:BLUE) Shares Down 13.4% - Time to Sell?

bluebird bio, Inc. (NASDAQ:BLUE - Get Free Report)'s share price traded down 13.4% during trading on Friday . The stock traded as low as $6.43 and last traded at $6.58. 77,909 shares changed hands during trading, a decline of 80% from the average session volume of 385,352 shares. The stock had previously closed at $7.60.

Analyst Ratings Changes

A number of equities analysts have weighed in on the company. StockNews.com began coverage on bluebird bio in a report on Thursday. They issued a "sell" rating for the company. Cantor Fitzgerald reaffirmed a "neutral" rating on shares of bluebird bio in a research report on Monday, September 16th. Barclays reduced their target price on bluebird bio from $80.00 to $40.00 and set an "overweight" rating for the company in a research note on Friday, November 15th. Royal Bank of Canada reiterated a "sector perform" rating and set a $80.00 price objective on shares of bluebird bio in a research note on Friday, November 15th. Finally, Wells Fargo & Company cut their target price on shares of bluebird bio from $60.00 to $40.00 and set an "equal weight" rating on the stock in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of "Hold" and an average price target of $49.14.

bluebird bio Price Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. The company's fifty day moving average price is $8.68 and its 200 day moving average price is $13.99. The firm has a market capitalization of $1.23 billion, a price-to-earnings ratio of -3.39 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE - Get Free Report) last issued its earnings results on Friday, September 13th. The biotechnology company reported ($7.20) EPS for the quarter. The company had revenue of $18.57 million during the quarter. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 322.46%. Equities research analysts expect that bluebird bio, Inc. will post -1.35 earnings per share for the current year.

Hedge Funds Weigh In On bluebird bio

Hedge funds and other institutional investors have recently modified their holdings of the company. Allegheny Financial Group LTD acquired a new stake in shares of bluebird bio in the 2nd quarter worth about $25,000. Verition Fund Management LLC bought a new position in bluebird bio in the 3rd quarter worth about $42,000. SG Americas Securities LLC increased its stake in shares of bluebird bio by 152.4% in the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company's stock valued at $64,000 after purchasing an additional 74,185 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of bluebird bio by 113.7% during the first 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 during the last quarter. Finally, Captrust Financial Advisors boosted its position in shares of bluebird bio by 48.2% during the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company's stock worth $123,000 after buying an additional 77,293 shares during the period. Institutional investors and hedge funds own 87.43% of the company's stock.

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.