Wells Fargo & Company Has Lowered Expectations for bluebird bio (NASDAQ:BLUE) Stock Price

bluebird bio (NASDAQ:BLUE) had its target price lowered by Wells Fargo & Company from $40.00 to $5.00 in a report issued on Monday,Benzinga reports. The brokerage currently has an equal weight rating on the biotechnology company’s stock.

A number of other analysts have also recently weighed in on the company. StockNews.com initiated coverage on bluebird bio in a research report on Friday, December 20th. They set a “sell” rating on the stock. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price target on shares of bluebird bio in a research report on Friday, November 15th. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and reduced their price objective for the stock from $60.00 to $10.00 in a research note 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. Finally, JPMorgan Chase & Co. raised bluebird bio from an “underweight” rating to a “neutral” rating in a research report on Monday. Two 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 data from MarketBeat.com, bluebird bio presently has an average rating of “Hold” and a consensus target price of $44.14.

bluebird bio Trading Down 4.0 %

Shares of BLUE opened at $3.86 on Monday. 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 50-day moving average price of $7.63 and a 200 day moving average price of $9.25. bluebird bio has a one year low of $3.56 and a one year high of $38.40. The company has a market capitalization of $37.53 million, a P/E ratio of -0.10 and a beta of 0.68.

Institutional Investors Weigh In On bluebird bio

Institutional investors have recently made changes to their positions in the stock. SG Americas Securities LLC grew its stake in bluebird bio by 152.4% in 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. Regeneron Pharmaceuticals Inc. bought a new stake in shares of bluebird bio in the fourth quarter valued at about $175,000. Barclays PLC lifted its holdings in shares of bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 184,605 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of bluebird bio by 3.7% in the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after purchasing an additional 166,771 shares in the last quarter. Finally, State Street Corp lifted its holdings in shares of bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after purchasing an additional 43,382 shares in the last quarter. 87.43% of the stock is owned by institutional investors and hedge funds.

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.