Wells Fargo & Company Cuts bluebird bio (NASDAQ:BLUE) Price Target to $5.00

bluebird bio (NASDAQ:BLUE) had its target price trimmed by Wells Fargo & Company from $40.00 to $5.00 in a research report report published on Monday morning,Benzinga reports. The firm currently has an equal weight rating on the biotechnology company’s stock.

BLUE has been the subject of several other reports. JPMorgan Chase & Co. upgraded bluebird bio from an “underweight” rating to a “neutral” rating in a research note on Monday. Barclays upped their price target on bluebird bio from $2.00 to $40.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 31st. StockNews.com began coverage on bluebird bio in a research note on Friday, December 20th. They set a “sell” rating for the company. Bank of America lowered bluebird bio from a “buy” rating to a “neutral” rating and dropped their price target for the stock from $60.00 to $10.00 in a research note on Friday, November 15th. Finally, Royal Bank of Canada restated a “sector perform” rating and set a $80.00 price target on shares of bluebird bio in a research note on Friday, November 15th. Two analysts have rated the stock with a sell rating, seven have given a hold rating and two have issued a buy rating to the company. Based on data from MarketBeat.com, bluebird bio has an average rating of “Hold” and an average price target of $44.14.

bluebird bio Stock Performance

bluebird bio stock opened at $3.86 on Monday. The firm has a market capitalization of $37.53 million, a P/E ratio of -0.10 and a beta of 0.68. The stock has a fifty day moving average price of $7.63 and a 200 day moving average price of $9.25. bluebird bio has a 52 week low of $3.56 and a 52 week high of $38.40. The company has a current ratio of 0.51, a quick ratio of 0.33 and a debt-to-equity ratio of 0.37.

Institutional Investors Weigh In On bluebird bio

A number of large investors have recently modified their holdings of the stock. Geode Capital Management LLC grew its stake in shares of bluebird bio by 3.7% in the third quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock valued at $2,433,000 after buying an additional 166,771 shares in the last quarter. State Street Corp boosted its holdings in bluebird bio by 1.1% in the third quarter. State Street Corp now owns 3,841,923 shares of the biotechnology company’s stock valued at $1,996,000 after purchasing an additional 43,382 shares during the last quarter. FMR LLC boosted its holdings in bluebird bio by 8.1% in the third quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock valued at $1,289,000 after purchasing an additional 186,903 shares during the last quarter. BNP Paribas Financial Markets boosted its holdings in bluebird bio by 2,270.2% in the third quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock valued at $193,000 after purchasing an additional 355,562 shares during the last quarter. Finally, Barclays PLC boosted its holdings in bluebird bio by 273.7% in the third quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock valued at $130,000 after purchasing an additional 184,605 shares during the last quarter. Institutional investors and hedge funds 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.