bluebird bio (NASDAQ:BLUE – Get Rating) had its price objective reduced by equities research analysts at Morgan Stanley to $3.00 in a research note issued on Tuesday, Stock Target Advisor reports. The brokerage presently has an “underweight” rating on the biotechnology company’s stock. Morgan Stanley’s target price indicates a potential downside of 13.79% from the company’s current price.
Other analysts have also issued research reports about the stock. Barclays dropped their price target on shares of bluebird bio from $4.00 to $3.00 in a research note on Tuesday, May 10th. Wells Fargo & Company decreased their price objective on shares of bluebird bio from $12.00 to $8.00 and set an “equal weight” rating for the company in a report on Tuesday, March 8th. SVB Leerink decreased their price objective on shares of bluebird bio from $10.00 to $8.00 and set a “market perform” rating for the company in a report on Wednesday, April 6th. Cowen downgraded shares of bluebird bio from an “outperform” rating to a “market perform” rating in a report on Wednesday, April 6th. Finally, StockNews.com initiated coverage on shares of bluebird bio in a report on Thursday, March 31st. They issued a “sell” rating for the company. Three investment analysts have rated the stock with a sell rating, twelve have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, bluebird bio has an average rating of “Hold” and an average target price of $12.00.
Shares of NASDAQ:BLUE traded up $0.09 during midday trading on Tuesday, reaching $3.48. The company had a trading volume of 43,476 shares, compared to its average volume of 2,459,970. The stock’s fifty day moving average price is $4.40 and its 200-day moving average price is $7.72. The stock has a market capitalization of $248.65 million, a P/E ratio of -0.33 and a beta of 1.63. bluebird bio has a one year low of $3.11 and a one year high of $35.59.
Several institutional investors and hedge funds have recently made changes to their positions in the company. Lazard Asset Management LLC lifted its holdings in bluebird bio by 345.0% in the fourth quarter. Lazard Asset Management LLC now owns 9,203 shares of the biotechnology company’s stock worth $91,000 after purchasing an additional 7,135 shares during the period. Rafferty Asset Management LLC lifted its holdings in bluebird bio by 116.4% in the third quarter. Rafferty Asset Management LLC now owns 174,274 shares of the biotechnology company’s stock worth $3,330,000 after purchasing an additional 93,739 shares during the period. Denali Advisors LLC acquired a new stake in bluebird bio in the fourth quarter worth about $101,000. Skandinaviska Enskilda Banken AB publ acquired a new stake in bluebird bio in the third quarter worth about $342,000. Finally, UBS Asset Management Americas Inc. lifted its holdings in bluebird bio by 5.0% in the third quarter. UBS Asset Management Americas Inc. now owns 69,696 shares of the biotechnology company’s stock worth $1,332,000 after purchasing an additional 3,298 shares during the period. 96.38% of the stock is owned by institutional investors.
About bluebird bio (Get Rating)
bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes transformative gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include betibeglogene autotemcel for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and elivaldogene autotemcel to treat cerebral adrenoleukodystrophy.
- Get a free copy of the StockNews.com research report on bluebird bio (BLUE)
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