JPMorgan Chase & Co. Sells 571,130 Shares of bluebird bio, Inc. (NASDAQ:BLUE)

JPMorgan Chase & Co. lessened its holdings in bluebird bio, Inc. (NASDAQ:BLUE) by 91.8% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 50,726 shares of the biotechnology company’s stock after selling 571,130 shares during the period. JPMorgan Chase & Co. owned about 0.52% of bluebird bio worth $423,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of the stock. Barclays PLC lifted 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 buying an additional 184,605 shares during the period. Regeneron Pharmaceuticals Inc. purchased a new position in shares of bluebird bio during the 4th quarter worth approximately $175,000. State Street Corp boosted its holdings 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 period. Finally, Geode Capital Management LLC grew its holdings in bluebird bio by 3.7% during 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 in the last quarter. Hedge funds and other institutional investors own 87.43% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently commented on the stock. Wells Fargo & Company dropped their target price on shares of bluebird bio from $40.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Monday, February 24th. JPMorgan Chase & Co. upgraded shares of bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. StockNews.com initiated coverage on shares of bluebird bio in a research report on Tuesday. They issued a “sell” rating for the company. Baird R W downgraded shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, Barclays reduced their price target on shares of bluebird bio from $40.00 to $8.00 and set an “overweight” rating on the stock in a research report on Monday, March 31st. One 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. According to data from MarketBeat.com, bluebird bio has an average rating of “Hold” and a consensus price target of $44.60.

bluebird bio Stock Performance

Shares of NASDAQ BLUE opened at $4.05 on Friday. The stock has a fifty day moving average price of $4.23 and a two-hundred day moving average price of $6.76. The firm has a market cap of $39.65 million, a P/E ratio of -0.11 and a beta of 0.41. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. bluebird bio, Inc. has a 1 year low of $3.56 and a 1 year high of $28.60.

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.