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

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

Several other research analysts have also recently weighed in on the stock. Robert W. Baird decreased their price objective on shares of bluebird bio from $7.00 to $6.00 and set an outperform rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. downgraded shares of bluebird bio from an overweight rating to a neutral rating in a report on Thursday, August 15th. Royal Bank of Canada reissued a sector perform rating and issued a $4.00 target price on shares of bluebird bio in a research note on Thursday, August 15th. Barclays lowered their price target on 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 cut their price objective on bluebird bio from $4.00 to $3.00 and set a buy rating for the company in a report on Thursday, August 15th. Two research analysts have rated the stock with a sell rating, seven have assigned a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of Hold and an average price target of $4.63.

bluebird bio Trading Up 1.4 %

Shares of bluebird bio stock opened at $0.50 on Wednesday. bluebird bio has a 12-month low of $0.46 and a 12-month high of $5.53. The company has a market cap of $55.15 million, a price-to-earnings ratio of -0.68 and a beta of 0.75. The company has a current ratio of 0.93, a quick ratio of 0.82 and a debt-to-equity ratio of 0.20. The company’s 50-day moving average price is $0.77 and its 200-day moving average price is $0.97.

Institutional Trading of bluebird bio

Several hedge funds and other institutional investors have recently bought and sold shares of BLUE. BNP Paribas Financial Markets increased its stake in shares of bluebird bio by 144.7% in the fourth quarter. BNP Paribas Financial Markets now owns 524,963 shares of the biotechnology company’s stock worth $724,000 after buying an additional 310,461 shares during the period. Dynamic Technology Lab Private Ltd purchased a new position in shares of bluebird bio in the fourth quarter valued at about $37,000. Weiss Asset Management LP bought a new position in shares of bluebird bio during the fourth quarter valued at about $1,035,000. Monashee Investment Management LLC purchased a new stake in shares of bluebird bio during the fourth quarter worth about $690,000. Finally, Vestal Point Capital LP bought a new stake in shares of bluebird bio in the fourth quarter worth about $2,967,000. 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.