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

bluebird bio (NASDAQ:BLUE) was downgraded by stock analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued on Friday,Briefing.com Automated Import reports.

BLUE has been the subject of several other research reports. Wells Fargo & Company cut their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. StockNews.com assumed coverage on bluebird bio in a research note on Sunday, November 10th. They set a “sell” rating for the company. Robert W. Baird reduced their target price on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Cantor Fitzgerald reiterated a “neutral” rating on shares of bluebird bio in a research report on Monday, September 16th. Finally, Barclays cut their price target on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a report on Thursday, August 15th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $3.28.

bluebird bio Trading Down 3.6 %

Shares of bluebird bio stock opened at $0.36 on Friday. bluebird bio has a 52-week low of $0.34 and a 52-week high of $5.53. The firm has a market capitalization of $70.31 million, a PE ratio of -0.16 and a beta of 0.76. The company has a debt-to-equity ratio of 0.37, a current ratio of 0.68 and a quick ratio of 0.57. The company’s fifty day moving average price is $0.49 and its two-hundred day moving average price is $0.79.

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

Institutional Investors Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. Vanguard Group Inc. grew its stake in shares of bluebird bio by 19.6% during the first quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock valued at $13,438,000 after purchasing an additional 1,723,081 shares during the last quarter. FMR LLC raised its position in bluebird bio by 8.1% in the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock worth $1,289,000 after purchasing an additional 186,903 shares during the last quarter. AQR Capital Management LLC lifted its holdings in bluebird bio by 315.3% during the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after buying an additional 1,013,144 shares in the last quarter. Bank of New York Mellon Corp boosted its position in bluebird bio by 19.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock valued at $675,000 after buying an additional 111,574 shares during the last quarter. Finally, BNP Paribas Financial Markets increased its stake in shares of bluebird bio by 2,270.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after buying an additional 355,562 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.