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

bluebird bio, Inc. (NASDAQ:BLUE)’s stock price crossed below its two hundred day moving average during trading on Tuesday . The stock has a two hundred day moving average of $12.81 and traded as low as $8.89. bluebird bio shares last traded at $9.02, with a volume of 320,270 shares trading hands.

Analysts Set New Price Targets

A number of equities analysts have recently weighed in on BLUE shares. JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a research note on Friday, November 15th. Barclays upped their price objective on bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a research note on Tuesday, December 31st. Royal Bank of Canada reaffirmed a “sector perform” rating and set a $80.00 target price on shares of bluebird bio in a research report on Friday, November 15th. Cantor Fitzgerald reissued a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. Finally, Bank of America downgraded shares of bluebird bio from a “buy” rating to a “neutral” rating and decreased their price objective for the stock from $60.00 to $10.00 in a report on Friday, November 15th. Three equities research analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $49.14.

bluebird bio Price Performance

The business’s 50-day simple moving average is $8.22 and its two-hundred day simple moving average is $12.81. The company has a quick ratio of 0.33, a current ratio of 0.51 and a debt-to-equity ratio of 0.37. The stock has a market cap of $87.69 million, a P/E ratio of -4.82 and a beta of 0.68.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the business. AQR Capital Management LLC boosted its holdings in shares of bluebird bio by 315.3% in the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after acquiring an additional 1,013,144 shares during the period. 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. FMR LLC grew its holdings in bluebird bio by 8.1% during the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock valued at $1,289,000 after buying an additional 186,903 shares in the last quarter. Barclays PLC increased its position in shares of bluebird bio by 273.7% during the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after buying an additional 184,605 shares during the period. Finally, Geode Capital Management LLC lifted its holdings in shares of bluebird bio by 3.7% in the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock worth $2,433,000 after buying an additional 166,771 shares in the last quarter. 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.