bluebird bio (NASDAQ:BLUE) Stock Crosses Below Two Hundred Day Moving Average – Time to Sell?

bluebird bio, Inc. (NASDAQ:BLUE) passed below its 200-day moving average during trading on Thursday . The stock has a 200-day moving average of $10.29 and traded as low as $6.20. bluebird bio shares last traded at $7.25, with a volume of 286,502 shares changing hands.

Analyst Upgrades and Downgrades

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

bluebird bio Stock Up 0.3 %

The business has a 50-day simple moving average of $7.93 and a 200-day simple moving average of $10.15. 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 has a market cap of $70.66 million, a price-to-earnings ratio of -0.19 and a beta of 0.68.

Institutional Trading of bluebird bio

A number of large investors have recently made changes to their positions in the company. Regeneron Pharmaceuticals Inc. purchased a new position in bluebird bio in the fourth quarter valued at approximately $175,000. State Street Corp increased its stake in bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after purchasing an additional 43,382 shares during the last quarter. SG Americas Securities LLC increased its stake in 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 last quarter. Captrust Financial Advisors increased its stake in bluebird bio by 48.2% in the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 77,293 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new position in shares of bluebird bio during the third quarter worth approximately $42,000. 87.43% of the stock is currently owned by hedge funds and other 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.