bluebird bio (NASDAQ:BLUE) Given New $5.00 Price Target at Wells Fargo & Company

bluebird bio (NASDAQ:BLUE) had its price target cut by investment analysts at Wells Fargo & Company from $40.00 to $5.00 in a research report issued on Monday,Benzinga reports. The firm currently has an “equal weight” rating on the biotechnology company’s stock. Wells Fargo & Company‘s price target would suggest a potential upside of 33.90% from the company’s previous close.

A number of other research analysts have also recently weighed in on BLUE. Barclays lifted their target price on bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a report on Tuesday, December 31st. Bank of America lowered shares of bluebird bio from a “buy” rating to a “neutral” rating and decreased their price target for the company from $60.00 to $10.00 in a report 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 note on Friday, November 15th. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday. Finally, StockNews.com initiated coverage on bluebird bio in a research report on Friday, December 20th. They set a “sell” rating on the stock. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.14.

bluebird bio Trading Down 8.5 %

NASDAQ:BLUE traded down $0.35 during mid-day trading on Monday, reaching $3.73. The company’s stock had a trading volume of 1,263,843 shares, compared to its average volume of 376,194. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33. The stock has a market cap of $36.29 million, a P/E ratio of -0.10 and a beta of 0.68. The company’s fifty day simple moving average is $7.81 and its two-hundred day simple moving average is $9.47. bluebird bio has a twelve month low of $3.56 and a twelve month high of $38.40.

Institutional Investors Weigh In On bluebird bio

Large investors have recently modified their holdings of the stock. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of bluebird bio during the fourth quarter valued at $175,000. Verition Fund Management LLC acquired a new stake in bluebird bio during the 3rd quarter worth about $42,000. SG Americas Securities LLC lifted its stake in 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 buying an additional 74,185 shares in the last quarter. Captrust Financial Advisors boosted its holdings in shares of bluebird bio by 48.2% in the third quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after buying an additional 77,293 shares during the period. Finally, Barclays PLC increased its position in shares of bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after acquiring an additional 184,605 shares in the last quarter. 87.43% of the stock is owned by institutional investors.

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.