bluebird bio (NASDAQ:BLUE) Upgraded by StockNews.com to “Sell”

bluebird bio (NASDAQ:BLUE) was upgraded by investment analysts at StockNews.com to a “sell” rating in a research report issued on Thursday.

Other equities research analysts also recently issued reports about the company. Morgan Stanley upgraded bluebird bio from an “underweight” rating to an “equal weight” rating and upped their price objective for the company from $3.00 to $7.00 in a research report on Friday, December 8th. Royal Bank of Canada restated a “sector perform” rating and issued a $6.00 price target on shares of bluebird bio in a research report on Wednesday. William Blair reiterated a “market perform” rating on shares of bluebird bio in a research report on Tuesday, January 9th. HSBC reduced their target price on shares of bluebird bio from $2.31 to $1.02 and set a “reduce” rating on the stock in a research note on Tuesday, March 5th. Finally, Wells Fargo & Company dropped their price target on shares of bluebird bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, six have issued a hold rating and five have given a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $5.87.

bluebird bio Price Performance

Shares of bluebird bio stock traded down $0.08 during trading hours on Thursday, reaching $1.28. The company’s stock had a trading volume of 7,253,083 shares, compared to its average volume of 9,900,090. The firm has a 50 day moving average price of $1.24 and a 200-day moving average price of $2.27. The stock has a market cap of $139.96 million, a P/E ratio of -1.73 and a beta of 0.75. bluebird bio has a one year low of $0.88 and a one year high of $5.53.

Institutional Trading of bluebird bio

Several institutional investors and hedge funds have recently modified their holdings of the stock. State Street Corp lifted its stake in bluebird bio by 597.0% in the third quarter. State Street Corp now owns 12,720,480 shares of the biotechnology company’s stock worth $80,521,000 after acquiring an additional 10,895,379 shares during the period. Norges Bank bought a new stake in shares of bluebird bio in the 4th quarter valued at about $5,514,000. Granahan Investment Management LLC lifted its position in shares of bluebird bio by 236.0% in the 2nd quarter. Granahan Investment Management LLC now owns 4,856,322 shares of the biotechnology company’s stock worth $15,977,000 after purchasing an additional 3,411,065 shares during the period. Palo Alto Investors LP bought a new position in shares of bluebird bio during the fourth quarter valued at approximately $4,600,000. Finally, Vanguard Group Inc. boosted its stake in shares of bluebird bio by 56.2% during the fourth quarter. Vanguard Group Inc. now owns 8,775,379 shares of the biotechnology company’s stock valued at $12,110,000 after purchasing an additional 3,157,919 shares in the last quarter. Institutional investors own 87.43% of the company’s stock.

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.