Renaissance Technologies LLC Reduces Stake in bluebird bio, Inc. (NASDAQ:BLUE)

Renaissance Technologies LLC lessened its position in bluebird bio, Inc. (NASDAQ:BLUE - Free Report) by 63.8% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 791,504 shares of the biotechnology company's stock after selling 1,396,196 shares during the period. Renaissance Technologies LLC owned 0.72% of bluebird bio worth $779,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Sequoia Financial Advisors LLC grew its stake in shares of bluebird bio by 48.0% in the first quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company's stock worth $51,000 after purchasing an additional 13,000 shares during the last quarter. China Universal Asset Management Co. Ltd. increased its stake in shares of bluebird bio by 189.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company's stock valued at $47,000 after buying an additional 23,933 shares during the period. Allegheny Financial Group LTD bought a new position in shares of bluebird bio during the second quarter worth about $25,000. Price T Rowe Associates Inc. MD lifted its stake 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 worth $71,000 after acquiring an additional 29,113 shares during the period. Finally, Enterprise Bank & Trust Co acquired a new stake in shares of bluebird bio during the first quarter worth $38,000. Institutional investors and hedge funds own 87.43% of the company's stock.

bluebird bio Stock Down 6.4 %

Shares of bluebird bio stock traded down $0.03 on Tuesday, hitting $0.49. The company had a trading volume of 6,640,627 shares, compared to its average volume of 7,790,317. bluebird bio, Inc. has a 1 year low of $0.45 and a 1 year high of $5.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.93. The stock has a 50 day moving average of $0.68 and a 200-day moving average of $0.92. The stock has a market capitalization of $53.27 million, a price-to-earnings ratio of -0.66 and a beta of 0.75.

Analyst Ratings Changes

BLUE has been the topic of a number of research analyst reports. 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. Cantor Fitzgerald reiterated a "neutral" rating on shares of bluebird bio in a report on Monday, September 16th. Robert W. Baird cut their price target on bluebird bio from $7.00 to $6.00 and set an "outperform" rating on the stock in a report on Thursday, August 15th. Bank of America reduced their price objective on shares of bluebird bio from $4.00 to $3.00 and set a "buy" rating for the company in a research report on Thursday, August 15th. Finally, JPMorgan Chase & Co. lowered shares of bluebird bio from an "overweight" rating to a "neutral" rating in a research note on Thursday, August 15th. Two equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and four have given a buy rating to the stock. According to MarketBeat.com, bluebird bio currently has an average rating of "Hold" and an average price target of $4.63.

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.