bluebird bio (NASDAQ:BLUE) Coverage Initiated at StockNews.com

Equities researchers at StockNews.com began coverage on shares of bluebird bio (NASDAQ:BLUE) in a research report issued to clients and investors on Friday. The firm set a “sell” rating on the biotechnology company’s stock.

Several other analysts have also weighed in on the stock. JPMorgan Chase & Co. upgraded shares of bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Wells Fargo & Company decreased their price target on shares of bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. Barclays increased their price objective on shares of bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 31st. Finally, Baird R W lowered bluebird bio from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, bluebird bio has an average rating of “Hold” and an average target price of $51.00.

bluebird bio Trading Up 7.7 %

Shares of BLUE stock opened at $4.08 on Friday. bluebird bio has a fifty-two week low of $3.56 and a fifty-two week high of $28.60. 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 stock has a 50 day simple moving average of $5.53 and a two-hundred day simple moving average of $7.75. The company has a market cap of $39.67 million, a P/E ratio of -0.11 and a beta of 0.76.

Institutional Inflows and Outflows

A number of hedge funds have recently made changes to their positions in BLUE. Regeneron Pharmaceuticals Inc. bought a new stake in shares of bluebird bio during the fourth quarter worth about $175,000. Verition Fund Management LLC acquired a new position in bluebird bio during the 3rd quarter valued at about $42,000. Captrust Financial Advisors increased its holdings in bluebird bio by 48.2% during 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. Barclays PLC raised its stake in shares of bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after purchasing an additional 184,605 shares during the last quarter. Finally, BNP Paribas Financial Markets lifted its holdings in shares of bluebird bio by 2,270.2% in the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 355,562 shares in the last quarter. 87.43% of the stock is currently owned by institutional investors and hedge funds.

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.