bluebird bio (NASDAQ:BLUE) Stock Passes Below 200 Day Moving Average – Should You Sell?

bluebird bio, Inc. (NASDAQ:BLUE)’s stock price passed below its two hundred day moving average during trading on Thursday . The stock has a two hundred day moving average of $7.82 and traded as low as $3.65. bluebird bio shares last traded at $3.79, with a volume of 171,171 shares trading hands.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of bluebird bio from an “underweight” rating to a “neutral” rating in a report on Monday, February 24th. Baird R W cut shares of bluebird bio from a “strong-buy” rating to a “hold” rating in a research note on Friday, February 21st. StockNews.com initiated coverage on shares of bluebird bio in a research note on Friday. They issued a “sell” rating on the stock. Wells Fargo & Company cut their price objective 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. Finally, Barclays raised their target price on bluebird bio from $2.00 to $40.00 and gave the company an “overweight” rating in a research report on Tuesday, December 31st. 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 stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $51.00.

bluebird bio Price Performance

The firm has a market capitalization of $39.67 million, a PE ratio of -0.11 and a beta of 0.76. The stock’s 50 day simple moving average is $5.53 and its two-hundred day simple moving average is $7.78. The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51.

Hedge Funds Weigh In On bluebird bio

A number of institutional investors have recently added to or reduced their stakes in the stock. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of bluebird bio in the 4th quarter worth $175,000. Barclays PLC grew its holdings in shares of bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 184,605 shares during the period. Geode Capital Management LLC increased its position in bluebird bio by 3.7% during the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock worth $2,433,000 after purchasing an additional 166,771 shares during the last quarter. State Street Corp raised 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 worth $1,996,000 after purchasing an additional 43,382 shares during the period. Finally, Verition Fund Management LLC acquired a new position in bluebird bio in the 3rd quarter valued at about $42,000. Hedge funds and other institutional investors own 87.43% of the company’s stock.

bluebird bio Company Profile

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.