bluebird bio (NASDAQ:BLUE) Trading Down 13.4% – Here’s Why

Shares of bluebird bio, Inc. (NASDAQ:BLUE) dropped 13.4% during trading on Friday . The company traded as low as $6.43 and last traded at $6.58. Approximately 77,909 shares were traded during mid-day trading, a decline of 80% from the average daily volume of 385,352 shares. The stock had previously closed at $7.60.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. JPMorgan Chase & Co. lowered shares of bluebird bio from a “neutral” rating to an “underweight” rating in a research note on Friday, November 15th. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price objective on shares of bluebird bio in a research report on Friday, November 15th. Robert W. Baird dropped their target price on bluebird bio from $140.00 to $120.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. StockNews.com began coverage on bluebird bio in a report on Thursday. They set a “sell” rating on the stock. Finally, Barclays dropped their price objective on shares of bluebird bio from $80.00 to $40.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the company. According to MarketBeat.com, bluebird bio has an average rating of “Hold” and a consensus target price of $49.14.

bluebird bio Trading Down 14.8 %

The business has a fifty day moving average price of $0.44 and a two-hundred day moving average price of $0.71. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. The firm has a market capitalization of $1.26 billion, a PE ratio of -3.52 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE) last announced its earnings results on Friday, September 13th. The biotechnology company reported ($7.20) earnings per share for the quarter. The company had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. Analysts expect that bluebird bio, Inc. will post -1.35 EPS for the current fiscal year.

Institutional Trading of bluebird bio

Several institutional investors have recently added to or reduced their stakes in the stock. AQR Capital Management LLC grew its stake in shares of bluebird bio by 315.3% in the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after buying an additional 1,013,144 shares in the last quarter. BNP Paribas Financial Markets grew its holdings in shares of bluebird bio by 2,270.2% in the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 355,562 shares in the last quarter. FMR LLC increased its stake in bluebird bio by 8.1% during the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock worth $1,289,000 after buying an additional 186,903 shares during the period. Barclays PLC lifted its holdings in bluebird bio by 273.7% during the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after buying an additional 184,605 shares in the last quarter. Finally, Geode Capital Management LLC boosted its position in bluebird bio by 3.7% in the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after buying an additional 166,771 shares during the period. Institutional investors and hedge funds own 87.43% of the company’s stock.

bluebird bio Company Profile

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.