bluebird bio (NASDAQ:BLUE) Price Target Lowered to $2.00 at Wells Fargo & Company

bluebird bio (NASDAQ:BLUE) had its price objective lowered by Wells Fargo & Company from $3.00 to $2.00 in a report released on Wednesday morning, Benzinga reports. Wells Fargo & Company currently has an equal weight rating on the biotechnology company’s stock.

Other analysts have also issued research reports about the stock. Robert W. Baird dropped their price target on bluebird bio from $7.00 to $6.00 and set an outperform rating on the stock in a research report on Thursday, August 15th. Royal Bank of Canada reiterated a sector perform rating and issued a $4.00 target price on shares of bluebird bio in a research note on Thursday, August 15th. JPMorgan Chase & Co. lowered shares of bluebird bio from an overweight rating to a neutral rating in a research report on Thursday, August 15th. Barclays cut their price objective on shares of bluebird bio from $8.00 to $4.00 and set an overweight rating on the stock in a research report on Thursday, August 15th. Finally, Bank of America decreased their target price on shares of bluebird bio from $4.00 to $3.00 and set a buy rating for the company in a research report on Thursday, August 15th. Two analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have given a buy rating to the company. Based on data from MarketBeat, bluebird bio presently has a consensus rating of Hold and an average price target of $4.63.

bluebird bio Price Performance

BLUE opened at $0.50 on Wednesday. The company’s 50 day simple moving average is $0.76 and its 200 day simple moving average is $0.96. 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 stock has a market capitalization of $55.15 million, a PE ratio of -0.68 and a beta of 0.75. bluebird bio has a 1 year low of $0.46 and a 1 year high of $5.53.

Institutional Investors Weigh In On bluebird bio

A number of large investors have recently bought and sold shares of BLUE. Sequoia Financial Advisors LLC increased its position in bluebird bio by 48.0% in the 1st 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. China Universal Asset Management Co. Ltd. increased its position in bluebird bio by 189.2% during the first quarter. China Universal Asset Management Co. Ltd. now owns 36,580 shares of the biotechnology company’s stock worth $47,000 after acquiring an additional 23,933 shares during the period. Allegheny Financial Group LTD acquired a new position in bluebird bio during the 2nd quarter valued at $25,000. Dynamic Technology Lab Private Ltd bought a new stake in bluebird bio in the 4th quarter valued at $37,000. Finally, Price T Rowe Associates Inc. MD grew its position in bluebird bio by 113.7% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 29,113 shares during the last quarter. 87.43% of the stock is currently owned by institutional investors.

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.