bluebird bio (NASDAQ:BLUE) Cut to Underweight at JPMorgan Chase & Co.

bluebird bio (NASDAQ:BLUE) was downgraded by investment analysts at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a report released on Friday, MarketBeat reports.

Other analysts also recently issued research reports about the stock. Barclays reduced their price target on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating for the company in a research report on Thursday, August 15th. Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and reduced their target price for the company from $3.00 to $0.50 in a report on Friday. Royal Bank of Canada reissued a “sector perform” rating and set a $4.00 price target on shares of bluebird bio in a report on Thursday, August 15th. StockNews.com started coverage on bluebird bio in a research note on Sunday, November 10th. They set a “sell” rating for the company. Finally, Robert W. Baird lowered their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a research note on Thursday, August 15th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the company. According to MarketBeat.com, bluebird bio currently has a consensus rating of “Hold” and a consensus target price of $3.03.

bluebird bio Stock Performance

Shares of BLUE stock opened at $0.32 on Friday. The stock’s 50-day moving average is $0.49 and its two-hundred day moving average is $0.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68. bluebird bio has a 1 year low of $0.32 and a 1 year high of $5.53. The firm has a market cap of $62.21 million, a price-to-earnings ratio of -0.14 and a beta of 0.76.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share (EPS) for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. The firm had revenue of $18.57 million for the quarter. Analysts predict that bluebird bio will post -1.41 earnings per share for the current year.

Institutional Trading of bluebird bio

Institutional investors have recently modified their holdings of the business. Allegheny Financial Group LTD purchased a new position in bluebird bio in the second quarter worth $25,000. Price T Rowe Associates Inc. MD grew its stake in shares of bluebird bio by 113.7% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock worth $71,000 after purchasing an additional 29,113 shares during the period. Bayesian Capital Management LP acquired a new position in shares of bluebird bio during the 1st quarter worth $52,000. American International Group Inc. increased its holdings in shares of bluebird bio by 77.4% in the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock valued at $121,000 after purchasing an additional 41,177 shares in the last quarter. Finally, State Street Corp lifted its stake 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 during the period. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

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.