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

bluebird bio (NASDAQ:BLUE) was downgraded by equities researchers at JPMorgan Chase & Co. from a “neutral” rating to an “underweight” rating in a research note issued to investors on Friday,Briefing.com Automated Import reports.

Several other equities analysts have also weighed in on the company. Wells Fargo & Company cut their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating on the stock in a report on Wednesday, September 25th. Barclays cut their price objective on bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research note on Thursday, August 15th. Royal Bank of Canada restated a “sector perform” rating and issued a $4.00 target price on shares of bluebird bio in a report on Thursday, August 15th. StockNews.com began coverage on bluebird bio in a report on Sunday, November 10th. They set a “sell” rating on the stock. Finally, Cantor Fitzgerald restated a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Three analysts have rated the stock with a sell rating, seven have given a hold rating and two have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $3.28.

bluebird bio Trading Down 3.6 %

NASDAQ:BLUE opened at $0.36 on Friday. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.57 and a current ratio of 0.68. The company has a market capitalization of $70.31 million, a P/E ratio of -0.16 and a beta of 0.76. The stock’s 50 day moving average price is $0.49 and its 200 day moving average price is $0.79. bluebird bio has a 52 week low of $0.34 and a 52 week high of $5.53.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. The business had revenue of $18.57 million for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. On average, research analysts forecast that bluebird bio will post -1.41 EPS for the current fiscal year.

Institutional Investors Weigh In On bluebird bio

Several hedge funds and other institutional investors have recently modified their holdings of the stock. Allegheny Financial Group LTD acquired a new position in bluebird bio during the 2nd quarter valued at $25,000. Verition Fund Management LLC bought a new position in shares of bluebird bio during the 3rd quarter worth about $42,000. Bayesian Capital Management LP acquired a new position in shares of bluebird bio during the first quarter valued at about $52,000. SG Americas Securities LLC lifted its stake in shares of bluebird bio by 152.4% in the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock valued at $64,000 after buying an additional 74,185 shares during the period. Finally, Price T Rowe Associates Inc. MD lifted its stake in shares of bluebird bio by 113.7% in the first quarter. Price T Rowe Associates Inc. MD now owns 54,714 shares of the biotechnology company’s stock valued at $71,000 after buying an additional 29,113 shares during the period. Institutional investors and hedge funds 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.