bluebird bio (NASDAQ:BLUE) Shares to Reverse Split on Friday, December 13th

bluebird bio, Inc. (NASDAQ:BLUE)’s stock is scheduled to reverse split on the morning of Friday, December 13th. The 1-20 reverse split was announced on Wednesday, December 4th. The number of shares owned by shareholders will be adjusted after the closing bell on Thursday, December 12th.

bluebird bio Price Performance

bluebird bio stock traded down $0.29 during trading hours on Thursday, hitting $0.44. 26,526,188 shares of the stock were exchanged, compared to its average volume of 7,749,790. bluebird bio has a 12 month low of $0.29 and a 12 month high of $5.53. The business’s 50-day moving average is $0.45 and its two-hundred day moving average is $0.73. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. The stock has a market capitalization of $86.29 million, a P/E ratio of -0.24 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. The business had revenue of $18.57 million during the quarter. Equities research analysts expect that bluebird bio will post -1.35 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on BLUE shares. Robert W. Baird cut their target price on shares of bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Wells Fargo & Company reduced their price target on shares of bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Bank of America lowered shares of bluebird bio from a “buy” rating to a “neutral” rating and reduced their target price for the stock from $3.00 to $0.50 in a research note on Friday, November 15th. Barclays decreased their price objective on bluebird bio from $4.00 to $2.00 and set an “overweight” rating for the company in a report on Friday, November 15th. Finally, StockNews.com started coverage on bluebird bio in a research note on Wednesday. They issued a “sell” rating on the stock. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and two have given a buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $3.03.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in BLUE. Allegheny Financial Group LTD bought a new stake in shares of bluebird bio during the 2nd quarter valued at approximately $25,000. Price T Rowe Associates Inc. MD grew its stake in shares of bluebird bio by 113.7% during the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after buying an additional 29,113 shares during the last quarter. Verition Fund Management LLC bought a new position in shares of bluebird bio in the 3rd quarter valued at $42,000. SG Americas Securities LLC boosted its holdings in shares of bluebird bio by 152.4% during the 3rd quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after acquiring an additional 74,185 shares in the last quarter. Finally, Captrust Financial Advisors grew its position in bluebird bio by 48.2% during the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock worth $123,000 after acquiring an additional 77,293 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

About bluebird bio

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.