bluebird bio (NASDAQ:BLUE) Downgraded to Underweight Rating by JPMorgan Chase & Co.

JPMorgan Chase & Co. cut shares of bluebird bio (NASDAQ:BLUE) from a neutral rating to an underweight rating in a report issued on Friday morning, MarketBeat.com reports.

A number of other equities analysts have also weighed in on the company. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Wells Fargo & Company decreased their price target on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. StockNews.com began coverage on bluebird bio in a research note on Sunday, November 10th. They issued a “sell” rating on the stock. Barclays cut their price objective on bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a report on Thursday, August 15th. Finally, Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and cut their target price for the stock from $3.00 to $0.50 in a report on Friday. Three research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company. Based on data from MarketBeat, bluebird bio currently has an average rating of “Hold” and an average price target of $3.03.

bluebird bio Stock Down 11.5 %

NASDAQ BLUE traded down $0.04 during trading hours on Friday, hitting $0.32. 9,162,727 shares of the company traded hands, compared to its average volume of 7,439,042. The business’s 50-day moving average is $0.49 and its 200-day moving average is $0.78. bluebird bio has a twelve month low of $0.32 and a twelve month high of $5.53. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68. The stock has a market capitalization of $62.21 million, a price-to-earnings ratio of -0.14 and a beta of 0.76.

bluebird bio (NASDAQ:BLUE) last issued its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. bluebird bio had a negative net margin of 567.29% and a negative return on equity of 207.25%. The company had revenue of $18.57 million for the quarter. Sell-side analysts anticipate that bluebird bio will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On bluebird bio

A number of large investors have recently modified their holdings of the stock. Allegheny Financial Group LTD purchased a new position in bluebird bio during the 2nd quarter valued at about $25,000. Verition Fund Management LLC purchased a new position in bluebird bio in the third quarter worth about $42,000. Bayesian Capital Management LP purchased a new position in bluebird bio in the first quarter worth about $52,000. SG Americas Securities LLC raised its holdings in shares of bluebird bio by 152.4% during the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after purchasing an additional 74,185 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its holdings in shares of bluebird bio by 113.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after purchasing an additional 29,113 shares during the last quarter. Institutional investors 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.