bluebird bio’s (BLUE) “Sector Perform” Rating Reaffirmed at Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of bluebird bio (NASDAQ:BLUE) in a research report released on Friday,Benzinga reports. Royal Bank of Canada currently has a $4.00 price objective on the biotechnology company’s stock.

A number of other brokerages also recently issued reports on BLUE. Wells Fargo & Company dropped their price target on shares of 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 dropped their target price on shares of bluebird bio from $4.00 to $2.00 and set an “overweight” rating on the stock in a report on Friday. JPMorgan Chase & Co. cut bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a report on Monday, September 16th. Finally, Robert W. Baird lowered their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating on the stock in a report on Thursday, August 15th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating and two have issued a buy rating to the company. According to MarketBeat, bluebird bio currently has a consensus rating of “Hold” and an average target price of $3.03.

bluebird bio Stock Down 11.5 %

Shares of NASDAQ:BLUE traded down $0.04 during trading on Friday, reaching $0.32. 9,162,727 shares of the stock traded hands, compared to its average volume of 7,439,042. The stock has a market cap of $62.21 million, a P/E ratio of -0.14 and a beta of 0.76. 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 stock has a 50-day moving average of $0.49 and a two-hundred day moving average of $0.78. bluebird bio has a 52-week low of $0.32 and a 52-week high of $5.53.

bluebird bio (NASDAQ:BLUE) last posted its earnings results on Friday, September 13th. The biotechnology company reported ($0.36) EPS for the quarter. bluebird bio had a negative return on equity of 207.25% and a negative net margin of 567.29%. The business had revenue of $18.57 million during the quarter. As a group, sell-side analysts expect that bluebird bio will post -1.41 earnings per share for the current fiscal year.

Institutional Investors Weigh In On bluebird bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Allegheny Financial Group LTD purchased a new stake in shares of bluebird bio during the second quarter worth about $25,000. Verition Fund Management LLC bought a new stake in shares of bluebird bio during the third quarter valued at approximately $42,000. Bayesian Capital Management LP purchased a new stake in shares of bluebird bio during the 1st quarter worth approximately $52,000. SG Americas Securities LLC grew its holdings 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 purchasing an additional 74,185 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD increased its position in 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 worth $71,000 after purchasing an additional 29,113 shares during the last quarter. 87.43% of the stock is owned by 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.