bluebird bio (NASDAQ:BLUE) Given “Sector Perform” Rating at Royal Bank of Canada

bluebird bio (NASDAQ:BLUE)‘s stock had its “sector perform” rating restated by analysts at Royal Bank of Canada in a research report issued on Friday,Benzinga reports. They currently have a $4.00 target price on the biotechnology company’s stock.

Several other analysts also recently weighed in on the stock. Barclays cut their price objective on shares of bluebird bio from $4.00 to $2.00 and set an “overweight” rating on the stock in a research report on Friday. Wells Fargo & Company reduced their price objective on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a research report on Wednesday, September 25th. Cantor Fitzgerald reaffirmed a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and cut their price objective for the company from $3.00 to $0.50 in a research note on Friday. Finally, StockNews.com assumed coverage on shares of bluebird bio in a research note on Sunday, November 10th. They set a “sell” rating on the stock. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and two have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $3.03.

bluebird bio Stock Performance

Shares of BLUE stock opened at $0.32 on Friday. The company has a market cap of $62.21 million, a P/E ratio of -0.14 and a beta of 0.76. The business 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. The company has a quick ratio of 0.57, a current ratio of 0.68 and a debt-to-equity ratio of 0.37.

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

Hedge Funds Weigh In On bluebird bio

A number of institutional investors have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. boosted its holdings in shares of bluebird bio by 38.4% in the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 325,111 shares of the biotechnology company’s stock worth $416,000 after buying an additional 90,139 shares during the period. Vanguard Group Inc. lifted its position in shares of bluebird bio by 19.6% in the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock valued at $13,438,000 after acquiring an additional 1,723,081 shares in the last quarter. Price T Rowe Associates Inc. MD grew its position in bluebird bio by 113.7% during the 1st 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 in the last quarter. American International Group Inc. grew its position in bluebird bio by 77.4% during the 1st quarter. American International Group Inc. now owns 94,371 shares of the biotechnology company’s stock worth $121,000 after purchasing an additional 41,177 shares in the last quarter. Finally, AQR Capital Management LLC raised its stake in bluebird bio by 315.3% during the 2nd 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 period. Hedge funds and other 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.