bluebird bio (NASDAQ:BLUE) Stock Crosses Below Two Hundred Day Moving Average – What’s Next?

bluebird bio, Inc. (NASDAQ:BLUE)’s share price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-day moving average of $12.81 and traded as low as $8.89. bluebird bio shares last traded at $9.02, with a volume of 320,270 shares traded.

Analysts Set New Price Targets

Several equities research analysts recently commented on BLUE shares. Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and reduced their price target for the company from $60.00 to $10.00 in a research report on Friday, November 15th. Barclays raised their target price on bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a research report on Tuesday, December 31st. Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 price target on shares of bluebird bio in a research report on Friday, November 15th. Wells Fargo & Company decreased their price objective on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Finally, JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have assigned a buy rating to the stock. According to data from MarketBeat.com, bluebird bio currently has a consensus rating of “Hold” and a consensus target price of $49.14.

bluebird bio Stock Performance

The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $82.25 million, a P/E ratio of -4.52 and a beta of 0.68. The firm’s 50-day moving average is $8.18 and its two-hundred day moving average is $12.71.

Hedge Funds Weigh In On bluebird bio

Several institutional investors have recently bought and sold shares of the stock. State Street Corp boosted its holdings in shares of bluebird bio by 1.1% during the 3rd quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock worth $1,996,000 after buying an additional 43,382 shares during the period. Rhumbline Advisers lifted its position in bluebird bio by 25.4% during the 2nd quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock worth $288,000 after acquiring an additional 59,219 shares during the last quarter. SG Americas Securities LLC boosted its holdings 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 acquiring an additional 74,185 shares during the period. Captrust Financial Advisors increased its stake 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 purchasing an additional 77,293 shares during the period. Finally, Verition Fund Management LLC bought a new position in shares of bluebird bio in the third quarter worth about $42,000. 87.43% of the stock is currently 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.