bluebird bio (NASDAQ:BLUE) Lowered to Underweight Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. lowered shares of bluebird bio (NASDAQ:BLUE - Free Report) from a neutral rating to an underweight rating in a report published on Friday morning, Marketbeat reports.

Other equities research analysts also recently issued research reports about the company. Wells Fargo & Company decreased their price target on bluebird bio from $3.00 to $2.00 and set an "equal weight" rating for the company in a report on Wednesday, September 25th. Barclays lowered their target price on shares of bluebird bio from $8.00 to $4.00 and set an "overweight" rating on the stock in a research note on Thursday, August 15th. StockNews.com assumed coverage on shares of bluebird bio in a report on Sunday, November 10th. They issued a "sell" rating on the stock. Bank of America downgraded bluebird bio from a "buy" rating to a "neutral" rating and lowered their price objective for the company from $3.00 to $0.50 in a research report on Friday. Finally, Royal Bank of Canada restated a "sector perform" rating and issued a $4.00 target price on shares of bluebird bio in a research note on Thursday, August 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $3.03.

bluebird bio Trading Down 11.5 %

NASDAQ:BLUE traded down $0.04 during mid-day trading on Friday, hitting $0.32. 9,128,336 shares of the company's stock were exchanged, compared to its average volume of 7,439,042. bluebird bio has a fifty-two week low of $0.32 and a fifty-two week high of $5.53. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $62.21 million, a P/E ratio of -0.14 and a beta of 0.76. The company has a 50 day simple moving average of $0.49 and a 200-day simple moving average of $0.79.

bluebird bio (NASDAQ:BLUE - Get Free Report) last issued its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. The business had revenue of $18.57 million during the quarter. As a group, research analysts expect that bluebird bio will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On bluebird bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. Allegheny Financial Group LTD bought a new stake in shares of bluebird bio in the 2nd quarter worth about $25,000. Price T Rowe Associates Inc. MD increased its holdings in shares of bluebird bio by 113.7% in 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 purchasing an additional 29,113 shares during the period. Bayesian Capital Management LP purchased a new position in shares of bluebird bio during the first quarter worth $52,000. American International Group Inc. boosted its position in bluebird bio by 77.4% in the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company's stock worth $121,000 after purchasing an additional 41,177 shares in the last quarter. Finally, State Street Corp grew its position 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 during the period. Institutional investors 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.