bluebird bio (NASDAQ:BLUE) Given New $8.00 Price Target at Barclays

bluebird bio (NASDAQ:BLUE) had its price target decreased by Barclays from $40.00 to $8.00 in a report released on Monday,Benzinga reports. The brokerage currently has an “overweight” rating on the biotechnology company’s stock. Barclays‘s price objective suggests a potential upside of 57.79% from the stock’s previous close.

Several other research firms also recently weighed in on BLUE. Wells Fargo & Company cut their price target on bluebird bio from $40.00 to $5.00 and set an “equal weight” rating for the company in a research note on Monday, February 24th. StockNews.com initiated coverage on shares of bluebird bio in a research report on Friday. They set a “sell” rating for the company. Baird R W lowered shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a research report on Friday, February 21st. Finally, JPMorgan Chase & Co. raised shares of bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, bluebird bio currently has a consensus rating of “Hold” and a consensus target price of $44.60.

bluebird bio Stock Performance

Shares of NASDAQ:BLUE traded up $0.99 during mid-day trading on Monday, reaching $5.07. The company had a trading volume of 1,764,711 shares, compared to its average volume of 376,147. The company’s 50-day moving average price is $5.53 and its 200-day moving average price is $7.73. bluebird bio has a one year low of $3.56 and a one year high of $28.60. The firm has a market cap of $49.29 million, a price-to-earnings ratio of -0.14 and a beta of 0.76. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Institutional Trading of bluebird bio

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Geode Capital Management LLC grew its position in shares of bluebird bio by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after purchasing an additional 166,771 shares in the last quarter. State Street Corp boosted its stake in bluebird bio by 1.1% during the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after buying an additional 43,382 shares during the period. FMR LLC grew its position in bluebird bio by 8.1% during the third quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock worth $1,289,000 after buying an additional 186,903 shares in the last quarter. BNP Paribas Financial Markets increased 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 acquiring an additional 355,562 shares during the last quarter. Finally, Barclays PLC raised its holdings in shares of bluebird bio by 273.7% in the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after acquiring an additional 184,605 shares in the last quarter. 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.