Barclays Issues Pessimistic Forecast for bluebird bio (NASDAQ:BLUE) Stock Price

bluebird bio (NASDAQ:BLUE) had its price objective reduced by Barclays from $40.00 to $8.00 in a research report report published on Monday morning,Benzinga reports. They currently have an overweight rating on the biotechnology company’s stock.

Several other research analysts also recently commented on BLUE. Wells Fargo & Company cut 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 report on Monday, February 24th. JPMorgan Chase & Co. raised bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Baird R W lowered bluebird bio from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. Finally, StockNews.com initiated coverage on bluebird bio in a report on Friday, March 28th. They issued a “sell” rating on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.60.

bluebird bio Price Performance

BLUE stock opened at $5.03 on Monday. The firm has a 50 day moving average of $5.35 and a 200-day moving average of $7.61. The firm has a market capitalization of $48.90 million, a P/E ratio of -0.13 and a beta of 0.76. bluebird bio has a 12 month low of $3.56 and a 12 month high of $28.60. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On bluebird bio

Several institutional investors have recently modified their holdings of the company. BNP Paribas Financial Markets lifted its position in bluebird bio by 2,270.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock worth $193,000 after buying an additional 355,562 shares during the last quarter. FMR LLC grew its position in bluebird bio by 8.1% during the third quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock valued at $1,289,000 after acquiring an additional 186,903 shares during the last quarter. Barclays PLC raised its stake in shares of bluebird bio by 273.7% during the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 184,605 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of bluebird bio by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock worth $2,433,000 after acquiring an additional 166,771 shares during the last quarter. Finally, Verition Fund Management LLC purchased a new stake in shares of bluebird bio in the 3rd quarter valued at $42,000. 87.43% of the stock is currently 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.