Wells Fargo & Company Cuts bluebird bio (NASDAQ:BLUE) Price Target to $2.00

bluebird bio (NASDAQ:BLUE) had its price target trimmed by Wells Fargo & Company from $3.00 to $2.00 in a research note issued to investors on Wednesday, Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

A number of other equities research analysts have also commented on the company. Royal Bank of Canada reissued a sector perform rating and issued a $4.00 price target on shares of bluebird bio in a research report on Thursday, August 15th. Barclays reduced their target price on shares of bluebird bio from $8.00 to $4.00 and set an overweight rating for the company in a research note on Thursday, August 15th. Robert W. Baird dropped their price target on shares of bluebird bio from $7.00 to $6.00 and set an outperform rating on the stock in a research report on Thursday, August 15th. JPMorgan Chase & Co. cut shares of bluebird bio from an overweight rating to a neutral rating in a report on Thursday, August 15th. Finally, Cantor Fitzgerald reiterated a neutral rating on shares of bluebird bio in a research note on Monday, September 16th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and four have given a buy rating to the company’s stock. According to data from MarketBeat.com, the stock presently has a consensus rating of Hold and a consensus price target of $4.63.

bluebird bio Price Performance

BLUE stock opened at $0.50 on Wednesday. The company has a market capitalization of $55.15 million, a P/E ratio of -0.68 and a beta of 0.75. bluebird bio has a 52-week low of $0.46 and a 52-week high of $5.53. The business has a 50-day simple moving average of $0.77 and a two-hundred day simple moving average of $0.97. The company has a debt-to-equity ratio of 0.20, a quick ratio of 0.82 and a current ratio of 0.93.

Hedge Funds Weigh In On bluebird bio

Institutional investors and hedge funds have recently bought and sold shares of the company. Ghisallo Capital Management LLC purchased a new position in shares of bluebird bio during the 4th quarter valued at $4,347,000. Vestal Point Capital LP bought a new position in bluebird bio during the fourth quarter worth about $2,967,000. Vanguard Group Inc. boosted its position in bluebird bio by 19.6% during the first quarter. Vanguard Group Inc. now owns 10,498,460 shares of the biotechnology company’s stock worth $13,438,000 after purchasing an additional 1,723,081 shares during the period. HBK Investments L P bought a new stake in shares of bluebird bio in the fourth quarter valued at approximately $2,070,000. Finally, AQR Capital Management LLC raised its position in shares of 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 purchasing an additional 1,013,144 shares during the period. 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.