Pictet Asset Management SA Increases Stock Holdings in bluebird bio, Inc. (NASDAQ:BLUE)

Pictet Asset Management SA lifted its stake in shares of bluebird bio, Inc. (NASDAQ:BLUEGet Rating) by 132.5% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 712,871 shares of the biotechnology company’s stock after buying an additional 406,212 shares during the period. Pictet Asset Management SA owned about 0.92% of bluebird bio worth $2,951,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of BLUE. Amalgamated Bank purchased a new position in shares of bluebird bio during the first quarter valued at approximately $39,000. US Bancorp DE boosted its position in bluebird bio by 82.9% in the first quarter. US Bancorp DE now owns 8,486 shares of the biotechnology company’s stock worth $41,000 after purchasing an additional 3,847 shares during the last quarter. Keybank National Association OH purchased a new position in bluebird bio in the second quarter worth $42,000. Raymond James & Associates purchased a new position in bluebird bio in the first quarter worth $50,000. Finally, Penserra Capital Management LLC purchased a new position in bluebird bio in the first quarter worth $53,000. Hedge funds and other institutional investors own 78.25% of the company’s stock.

bluebird bio Stock Performance

NASDAQ:BLUE opened at $6.98 on Monday. bluebird bio, Inc. has a 52-week low of $2.87 and a 52-week high of $11.70. The firm has a market cap of $578.71 million, a price-to-earnings ratio of -1.14 and a beta of 0.95. The business’s fifty day moving average is $6.52 and its 200 day moving average is $5.30.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. SVB Leerink boosted their price objective on bluebird bio from $8.00 to $10.00 and gave the stock a “market perform” rating in a research report on Thursday, August 18th. Royal Bank of Canada cut their price objective on bluebird bio to $8.00 and set a “sector perform” rating on the stock in a research report on Tuesday, November 8th. Barclays raised bluebird bio from an “underweight” rating to an “equal weight” rating and boosted their price objective for the stock from $3.00 to $5.00 in a research report on Friday, August 5th. StockNews.com began coverage on bluebird bio in a research note on Wednesday, October 12th. They issued a “sell” rating on the stock. Finally, The Goldman Sachs Group boosted their target price on bluebird bio from $2.00 to $3.00 and gave the company a “sell” rating in a research note on Friday, August 19th. Three analysts have rated the stock with a sell rating, six have given a hold rating and one has issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.88.

bluebird bio Company Profile

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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.

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Institutional Ownership by Quarter for bluebird bio (NASDAQ:BLUE)

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