BTIG Research Lowers Babylon (NYSE:BBLN) to Neutral

BTIG Research cut shares of Babylon (NYSE:BBLN – Get Rating) from a buy rating to a neutral rating in a research report released on Thursday, MarketBeat.com reports.

Separately, Citigroup cut their target price on Babylon from $15.00 to $11.00 in a research note on Friday, March 10th. Three investment analysts have rated the stock with a hold rating and two have given a buy rating to the stock. Based on data from MarketBeat, Babylon has an average rating of Hold and an average price target of $53.08.

Babylon Stock Performance

BBLN stock opened at $5.89 on Thursday. The business has a 50-day moving average price of $10.13 and a 200 day moving average price of $11.60. Babylon has a 1-year low of $5.75 and a 1-year high of $120.75.

Institutional Investors Weigh In On Babylon

A number of large investors have recently modified their holdings of BBLN. Price T Rowe Associates Inc. MD purchased a new stake in shares of Babylon during the second quarter worth about $2,903,000. State Street Corp purchased a new stake in shares of Babylon during the second quarter worth about $1,692,000. Northern Trust Corp purchased a new stake in shares of Babylon during the second quarter worth about $707,000. Renaissance Technologies LLC grew its stake in shares of Babylon by 1,320.5% during the second quarter. Renaissance Technologies LLC now owns 592,356 shares of the company’s stock worth $579,000 after acquiring an additional 550,656 shares during the last quarter. Finally, Rhumbline Advisers purchased a new stake in shares of Babylon during the second quarter worth about $115,000.

Babylon Company Profile

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Babylon Holdings Limited operates as a digital healthcare company. It offers end-to-end care solution that facilities through its digital health suite, virtual care, in-person medical care, and post-care offerings. The company also provides Babylon Cloud services. It operates in the United Kingdom, the United States, the Asia Pacific, Canada, and internationally.