bluebird bio (NASDAQ:BLUE) Stock Price Passes Below 200 Day Moving Average – Here’s What Happened

Shares of bluebird bio, Inc. (NASDAQ:BLUE) passed below its 200-day moving average during trading on Friday . The stock has a 200-day moving average of $11.34 and traded as low as $7.70. bluebird bio shares last traded at $7.75, with a volume of 130,303 shares traded.

Analyst Upgrades and Downgrades

A number of research analysts recently issued reports on the stock. JPMorgan Chase & Co. lowered shares of bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 15th. StockNews.com initiated coverage on bluebird bio in a research note on Friday, December 20th. They issued a “sell” rating for the company. Barclays upped their price objective on shares of bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 31st. Royal Bank of Canada reiterated a “sector perform” rating and set a $80.00 price target on shares of bluebird bio in a research note on Friday, November 15th. Finally, Bank of America downgraded bluebird bio from a “buy” rating to a “neutral” rating and lowered their price objective for the stock from $60.00 to $10.00 in a research note on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, five have issued a hold rating and two have given a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $49.14.

bluebird bio Price Performance

The stock has a 50-day moving average of $8.31 and a 200 day moving average of $11.23. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Hedge Funds Weigh In On bluebird bio

Large investors have recently modified their holdings of the business. Verition Fund Management LLC purchased a new position in bluebird bio in the 3rd quarter valued at approximately $42,000. SG Americas Securities LLC grew its position in shares of 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 purchasing an additional 74,185 shares in the last quarter. Captrust Financial Advisors raised its stake in shares of bluebird bio by 48.2% during the 3rd quarter. Captrust Financial Advisors now owns 237,648 shares of the biotechnology company’s stock valued at $123,000 after purchasing an additional 77,293 shares during the period. Barclays PLC lifted its holdings in bluebird bio by 273.7% during the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after purchasing an additional 184,605 shares in the last quarter. Finally, BNP Paribas Financial Markets boosted its stake in bluebird bio by 2,270.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock worth $193,000 after purchasing an additional 355,562 shares during the period. Hedge funds and other institutional investors own 87.43% of the company’s stock.

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.