bluebird bio (NASDAQ:BLUE) Trading Up 4.2%

bluebird bio, Inc. (NASDAQ:BLUE)’s share price was up 4.2% during mid-day trading on Wednesday . The company traded as high as $1.27 and last traded at $1.25. Approximately 2,527,252 shares were traded during trading, a decline of 74% from the average daily volume of 9,864,597 shares. The stock had previously closed at $1.20.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Bank of America dropped their price target on bluebird bio from $12.00 to $5.00 and set a “buy” rating on the stock in a research report on Thursday, December 21st. StockNews.com raised bluebird bio to a “sell” rating in a research report on Thursday. William Blair reaffirmed a “market perform” rating on shares of bluebird bio in a report on Tuesday, January 9th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $6.00 price target on shares of bluebird bio in a report on Wednesday. Finally, HSBC dropped their target price on bluebird bio from $2.31 to $1.02 and set a “reduce” rating for the company in a report on Tuesday, March 5th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $5.87.

bluebird bio Price Performance

The stock has a fifty day moving average of $1.24 and a two-hundred day moving average of $2.27. The firm has a market capitalization of $139.96 million, a price-to-earnings ratio of -1.73 and a beta of 0.75.

Hedge Funds Weigh In On bluebird bio

Hedge funds have recently modified their holdings of the company. Citigroup Inc. grew its stake in bluebird bio by 5.8% in the 3rd quarter. Citigroup Inc. now owns 557,969 shares of the biotechnology company’s stock valued at $1,696,000 after buying an additional 30,532 shares in the last quarter. Deutsche Bank AG raised its stake in shares of bluebird bio by 80.8% during the third quarter. Deutsche Bank AG now owns 692,881 shares of the biotechnology company’s stock valued at $2,106,000 after acquiring an additional 309,690 shares during the last quarter. Bleichroeder LP purchased a new position in shares of bluebird bio during the third quarter valued at about $2,736,000. Aigen Investment Management LP purchased a new position in shares of bluebird bio during the third quarter valued at about $34,000. Finally, Johnson Investment Counsel Inc. purchased a new stake in bluebird bio in the third quarter worth about $40,000. 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.