bluebird bio, Inc. (NASDAQ:BLUE) Sees Large Decrease in Short Interest

bluebird bio, Inc. (NASDAQ:BLUE) was the recipient of a significant drop in short interest in the month of December. As of December 15th, there was short interest totalling 2,580,000 shares, a drop of 94.8% from the November 30th total of 49,570,000 shares. Based on an average daily volume of 418,200 shares, the short-interest ratio is presently 6.2 days. Currently, 26.8% of the shares of the company are sold short.

bluebird bio Price Performance

BLUE stock remained flat at $8.78 during midday trading on Friday. 250,972 shares of the company’s stock traded hands, compared to its average volume of 396,994. The company has a market cap of $85.36 million, a price-to-earnings ratio of -4.70 and a beta of 0.72. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37. bluebird bio has a 12-month low of $5.80 and a 12-month high of $38.40. The business has a 50-day moving average price of $8.37 and a 200-day moving average price of $13.31.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, September 27th. The biotechnology company reported ($8.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($8.00) by ($0.40). The business had revenue of $16.10 million during the quarter, compared to analyst estimates of $16.09 million. bluebird bio had a negative return on equity of 322.46% and a negative net margin of 565.74%. As a group, sell-side analysts anticipate that bluebird bio will post -1.35 EPS for the current year.

Analyst Ratings Changes

BLUE has been the subject of a number of analyst reports. StockNews.com assumed coverage on bluebird bio in a research note on Friday, December 20th. They set a “sell” rating for the company. JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 15th. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 price target on shares of bluebird bio in a research note on Friday, November 15th. Bank of America lowered shares of bluebird bio from a “buy” rating to a “neutral” rating and lowered their target price for the stock from $60.00 to $10.00 in a research report on Friday, November 15th. Finally, Wells Fargo & Company decreased their price target on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating on the stock in a research note on Wednesday, September 25th. Three analysts have rated the stock with a sell rating, six have given a hold rating and two have given a buy rating to the stock. According to MarketBeat.com, bluebird bio presently has an average rating of “Hold” and a consensus price target of $49.14.

Hedge Funds Weigh In On bluebird bio

Several large investors have recently modified their holdings of the stock. AQR Capital Management LLC raised its stake in bluebird bio by 315.3% during the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after buying an additional 1,013,144 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in bluebird bio by 19.4% during the second quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock worth $675,000 after purchasing an additional 111,574 shares during the last quarter. Rhumbline Advisers boosted its holdings in bluebird bio by 25.4% in the second quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock worth $288,000 after purchasing an additional 59,219 shares during the period. SG Americas Securities LLC increased its stake in bluebird bio by 152.4% during 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 during the last quarter. Finally, Allegheny Financial Group LTD acquired a new stake in shares of bluebird bio during the second quarter worth $25,000. 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.