bluebird bio (NASDAQ:BLUE) PT Lowered to $3.00 at Bank of America

bluebird bio (NASDAQ:BLUE) had its price objective decreased by Bank of America from $4.00 to $3.00 in a research note issued on Thursday, Benzinga reports. The brokerage currently has a “buy” rating on the biotechnology company’s stock. Bank of America‘s price target points to a potential upside of 328.51% from the stock’s current price.

Other research analysts have also recently issued reports about the stock. Barclays reduced their target price on shares of bluebird bio from $8.00 to $4.00 and set an “overweight” rating on the stock in a research report on Thursday. JPMorgan Chase & Co. lowered bluebird bio from an “overweight” rating to a “neutral” rating in a research note on Thursday. Royal Bank of Canada reissued a “sector perform” rating and issued a $4.00 target price on shares of bluebird bio in a research report on Thursday. Finally, Robert W. Baird decreased their target price on bluebird bio from $7.00 to $6.00 and set an “outperform” rating for the company in a research report on Thursday. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, bluebird bio currently has a consensus rating of “Hold” and an average target price of $4.74.

bluebird bio Stock Performance

bluebird bio stock traded down $0.11 during trading on Thursday, reaching $0.70. 27,208,553 shares of the company’s stock were exchanged, compared to its average volume of 7,668,743. bluebird bio has a 52-week low of $0.69 and a 52-week high of $5.53. The company’s 50-day moving average is $1.03 and its two-hundred day moving average is $1.10. The firm has a market cap of $76.55 million, a price-to-earnings ratio of -0.94 and a beta of 0.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently bought and sold shares of the company. Sequoia Financial Advisors LLC bought a new position in bluebird bio in the 4th quarter worth approximately $37,000. Cerity Partners LLC acquired a new position in shares of bluebird bio during the fourth quarter valued at $82,000. New York State Common Retirement Fund raised its stake in shares of bluebird bio by 67.0% during the fourth quarter. New York State Common Retirement Fund now owns 190,685 shares of the biotechnology company’s stock valued at $263,000 after purchasing an additional 76,490 shares in the last quarter. Monaco Asset Management SAM acquired a new stake in bluebird bio in the fourth quarter worth about $207,000. Finally, BNP Paribas Financial Markets lifted its holdings in bluebird bio by 144.7% in the fourth quarter. BNP Paribas Financial Markets now owns 524,963 shares of the biotechnology company’s stock worth $724,000 after purchasing an additional 310,461 shares during the period. 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.