bluebird bio (NASDAQ:BLUE) Price Target Lowered to $8.00 at Barclays

bluebird bio (NASDAQ:BLUE) had its target price cut by investment analysts at Barclays from $40.00 to $8.00 in a research note issued on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective suggests a potential upside of 57.79% from the company’s previous close.

Other analysts also recently issued reports about the company. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday, February 24th. Wells Fargo & Company decreased their price objective on bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a report on Monday, February 24th. Baird R W cut bluebird bio from a “strong-buy” rating to a “hold” rating in a report on Friday, February 21st. Finally, StockNews.com assumed coverage on shares of bluebird bio in a research note on Friday. They set a “sell” rating for the company. One investment 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’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.60.

bluebird bio Stock Up 24.3 %

Shares of bluebird bio stock traded up $0.99 during trading on Monday, reaching $5.07. 1,764,711 shares of the company traded hands, compared to its average volume of 376,147. The firm has a market capitalization of $49.29 million, a PE ratio of -0.14 and a beta of 0.76. bluebird bio has a 1-year low of $3.56 and a 1-year high of $28.60. The company has a 50 day moving average price of $5.53 and a 200-day moving average price of $7.73. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.51 and a quick ratio of 0.33.

Institutional Trading of bluebird bio

Several institutional investors and hedge funds have recently made changes to their positions in BLUE. Regeneron Pharmaceuticals Inc. bought a new stake in bluebird bio in the 4th quarter worth about $175,000. Barclays PLC grew its holdings 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 valued at $130,000 after acquiring an additional 184,605 shares in the last quarter. Geode Capital Management LLC increased its position in shares of bluebird bio by 3.7% during the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after acquiring an additional 166,771 shares during the last quarter. State Street Corp boosted its position 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 worth $1,996,000 after purchasing an additional 43,382 shares during the last quarter. Finally, Verition Fund Management LLC bought a new position in bluebird bio in the 3rd quarter valued at $42,000. Hedge funds and other institutional investors 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.