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

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

Other research analysts have also issued research reports about the stock. JPMorgan Chase & Co. lowered shares of bluebird bio from a “neutral” rating to an “underweight” rating in a report on Friday. StockNews.com started coverage on bluebird bio in a report on Sunday, November 10th. They issued a “sell” rating on the stock. Robert W. Baird lowered their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a report on Thursday, August 15th. Wells Fargo & Company reduced their target price on bluebird bio from $3.00 to $2.00 and set an “equal weight” rating for the company in a report on Wednesday, September 25th. Finally, Bank of America cut shares of bluebird bio from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $3.00 to $0.50 in a report on Friday. Three 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 stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $3.03.

bluebird bio Stock Down 11.4 %

Shares of BLUE traded down $0.04 during midday trading on Friday, reaching $0.32. 6,895,475 shares of the company were exchanged, compared to its average volume of 7,427,930. bluebird bio has a 1-year low of $0.32 and a 1-year high of $5.53. The company has a current ratio of 0.68, a quick ratio of 0.57 and a debt-to-equity ratio of 0.37. The company has a market cap of $62.26 million, a price-to-earnings ratio of -0.14 and a beta of 0.76. The stock has a 50-day moving average price of $0.49 and a 200-day moving average price of $0.79.

bluebird bio (NASDAQ:BLUE) last posted its quarterly earnings data on Friday, September 13th. The biotechnology company reported ($0.36) earnings per share 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 for the quarter. Research analysts expect that bluebird bio will post -1.41 earnings per share for the current year.

Institutional Investors Weigh In On bluebird bio

A number of hedge funds have recently made changes to their positions in the business. Mirae Asset Global Investments Co. Ltd. increased its holdings in bluebird bio by 38.4% in the 1st 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 in the last quarter. Vanguard Group Inc. grew its holdings in bluebird bio by 19.6% during the 1st quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after acquiring an additional 1,723,081 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings 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. American International Group Inc. grew its stake 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 valued at $121,000 after purchasing an additional 41,177 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in bluebird bio by 315.3% in 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 buying an additional 1,013,144 shares in the last quarter. 87.43% of the stock is currently 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.