bluebird bio (NASDAQ:BLUE) Shares Cross Below 200 Day Moving Average – Time to Sell?

bluebird bio, Inc. (NASDAQ:BLUE)’s stock price passed below its 200-day moving average during trading on Tuesday . The stock has a 200-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.

Analysts Set New Price Targets

A number of equities research analysts have recently weighed in on the company. JPMorgan Chase & Co. downgraded bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday, November 15th. Barclays increased their target price on shares of bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a report on Tuesday, December 31st. Bank of America lowered shares of bluebird bio from a “buy” rating to a “neutral” rating and decreased their price target for the company from $60.00 to $10.00 in a report on Friday, November 15th. StockNews.com started coverage on shares of bluebird bio in a research note on Friday, December 20th. They set a “sell” rating on the stock. Finally, Wells Fargo & Company decreased their target price on bluebird bio from $60.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Three investment analysts have rated the stock with a sell rating, six have issued a hold rating and two have given a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $49.14.

bluebird bio Stock Down 6.2 %

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. The firm has a 50 day simple moving average of $8.18 and a two-hundred day simple moving average of $12.71. The stock has a market cap of $82.25 million, a P/E ratio of -4.52 and a beta of 0.68.

Hedge Funds Weigh In On bluebird bio

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. AQR Capital Management LLC lifted its stake in bluebird bio by 315.3% during the second quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock valued at $1,223,000 after purchasing an additional 1,013,144 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of bluebird bio by 19.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 685,757 shares of the biotechnology company’s stock worth $675,000 after acquiring an additional 111,574 shares in the last quarter. Rhumbline Advisers grew its holdings in shares of bluebird bio by 25.4% in the 2nd quarter. Rhumbline Advisers now owns 292,436 shares of the biotechnology company’s stock worth $288,000 after acquiring an additional 59,219 shares during the last quarter. SG Americas Securities LLC raised its position in shares of bluebird bio by 152.4% during the third quarter. SG Americas Securities LLC now owns 122,855 shares of the biotechnology company’s stock worth $64,000 after purchasing an additional 74,185 shares during the period. Finally, Barclays PLC lifted its holdings 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 purchasing an additional 184,605 shares during the last quarter. 87.43% of the stock is owned by institutional investors.

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.