bluebird bio (NASDAQ:BLUE) Coverage Initiated at StockNews.com

StockNews.com assumed coverage on shares of bluebird bio (NASDAQ:BLUE) in a research report report published on Friday morning. The firm issued a sell rating on the biotechnology company’s stock.

A number of other research analysts have also recently issued reports on BLUE. Wells Fargo & Company lowered their price objective on shares of bluebird bio from $3.00 to $2.00 and set an equal weight rating for the company in a research note on Wednesday, September 25th. Royal Bank of Canada restated a sector perform rating and set a $4.00 price objective on shares of bluebird bio in a research report on Thursday, August 15th. Robert W. Baird decreased their price objective on bluebird bio from $7.00 to $6.00 and set an outperform rating on the stock in a report on Thursday, August 15th. Bank of America dropped their price target on bluebird bio from $4.00 to $3.00 and set a buy rating for the company in a research report on Thursday, August 15th. Finally, Cantor Fitzgerald restated a neutral rating on shares of bluebird bio in a report on Monday, September 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of Hold and an average price target of $4.63.

bluebird bio Trading Up 1.4 %

NASDAQ BLUE opened at $0.50 on Friday. The company has a market capitalization of $55.15 million, a price-to-earnings ratio of -0.68 and a beta of 0.75. bluebird bio has a one year low of $0.46 and a one year high of $5.53. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.93. The company’s 50-day simple moving average is $0.76 and its two-hundred day simple moving average is $0.96.

Institutional Inflows and Outflows

Several institutional investors have recently added to or reduced their stakes in BLUE. Allegheny Financial Group LTD purchased a new position in shares of bluebird bio during the second quarter worth approximately $25,000. Enterprise Bank & Trust Co acquired a new position in bluebird bio in the first quarter valued at $38,000. China Universal Asset Management Co. Ltd. raised its holdings in shares of bluebird bio by 189.2% in the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock valued at $47,000 after buying an additional 23,933 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of bluebird bio by 48.0% during the first quarter. Sequoia Financial Advisors LLC now owns 40,085 shares of the biotechnology company’s stock worth $51,000 after buying an additional 13,000 shares during the period. Finally, Bayesian Capital Management LP purchased a new position in shares of bluebird bio during the first quarter worth about $52,000. 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.