Bank of America Cuts bluebird bio (NASDAQ:BLUE) Price Target to $3.00

bluebird bio (NASDAQ:BLUE) had its price objective cut by Bank of America from $4.00 to $3.00 in a research note published on Thursday morning, Benzinga reports. They currently have a buy rating on the biotechnology company’s stock.

Several other analysts have also recently commented on BLUE. Robert W. Baird dropped their price target on bluebird bio from $7.00 to $6.00 and set an outperform rating for the company in a research report on Thursday. Royal Bank of Canada reiterated a sector perform rating and set a $4.00 price target on shares of bluebird bio in a research report on Thursday. Barclays dropped their price target on bluebird bio from $8.00 to $4.00 and set an overweight rating for the company in a research report on Thursday. Finally, JPMorgan Chase & Co. cut bluebird bio from an overweight rating to a neutral rating in a research report on Thursday. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have issued a buy rating to the company’s stock. According to MarketBeat, bluebird bio presently has a consensus rating of Hold and a consensus target price of $4.74.

bluebird bio Price Performance

bluebird bio stock opened at $0.71 on Thursday. bluebird bio has a 12 month low of $0.68 and a 12 month high of $5.53. The stock has a market capitalization of $77.53 million, a PE ratio of -0.96 and a beta of 0.81. The business has a 50 day simple moving average of $1.02 and a 200-day simple moving average of $1.09.

Hedge Funds Weigh In On bluebird bio

Several large investors have recently modified their holdings of BLUE. Ghisallo Capital Management LLC acquired a new position in shares of bluebird bio in the 4th quarter valued at $4,347,000. Vestal Point Capital LP acquired a new position in bluebird bio during the 4th quarter worth about $2,967,000. Vanguard Group Inc. lifted its stake in bluebird bio by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after acquiring an additional 1,723,081 shares in the last quarter. HBK Investments L P acquired a new position in bluebird bio during the 4th quarter worth about $2,070,000. Finally, AQR Capital Management LLC lifted its stake in bluebird bio by 315.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after acquiring an additional 1,013,144 shares in the last quarter. Institutional investors and hedge funds own 87.43% of the company’s stock.

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.