bluebird bio (NASDAQ:BLUE) Stock Price Passes Below 200 Day Moving Average - What's Next?

bluebird bio, Inc. (NASDAQ:BLUE - Get Free Report) shares crossed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.81 and traded as low as $8.89. bluebird bio shares last traded at $9.02, with a volume of 320,270 shares traded.

Wall Street Analysts Forecast Growth

BLUE has been the topic of several research reports. StockNews.com began coverage on shares of bluebird bio in a research note on Friday, December 20th. They issued a "sell" rating on the stock. JPMorgan Chase & Co. lowered shares of bluebird bio from a "neutral" rating to an "underweight" rating in a research report on Friday, November 15th. Royal Bank of Canada reiterated a "sector perform" rating and issued a $80.00 price target on shares of bluebird bio in a research report on Friday, November 15th. Bank of America downgraded bluebird bio from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $60.00 to $10.00 in a research report on Friday, November 15th. Finally, Barclays raised their price objective on bluebird bio from $2.00 to $40.00 and gave the stock an "overweight" rating in a research note on Tuesday, December 31st. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $49.14.

bluebird bio Stock Performance

The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The company has a market cap of $82.25 million, a P/E ratio of -4.52 and a beta of 0.68. The company has a 50 day moving average price of $8.21 and a 200-day moving average price of $12.74.

Institutional Investors Weigh In On bluebird bio

Hedge funds and other institutional investors have recently made changes to their positions in the stock. Barclays PLC lifted 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 purchasing an additional 184,605 shares during the last quarter. Geode Capital Management LLC boosted its holdings in shares of bluebird bio by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company's stock valued at $2,433,000 after acquiring an additional 166,771 shares in the last quarter. State Street Corp boosted its holdings in shares of bluebird bio by 1.1% during the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company's stock valued at $1,996,000 after acquiring an additional 43,382 shares in the last quarter. Verition Fund Management LLC bought a new stake in bluebird bio during the 3rd quarter worth $42,000. Finally, Captrust Financial Advisors increased its holdings in 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.

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.