bluebird bio (NASDAQ:BLUE) Stock Price Up 15.3% – What’s Next?

bluebird bio, Inc. (NASDAQ:BLUE)’s share price shot up 15.3% during trading on Monday . The company traded as high as $7.33 and last traded at $7.31. 510,899 shares traded hands during mid-day trading, an increase of 31% from the average session volume of 388,562 shares. The stock had previously closed at $6.34.

Analyst Upgrades and Downgrades

A number of research firms recently commented on BLUE. Wells Fargo & Company decreased their price objective on shares of bluebird bio from $60.00 to $40.00 and set an “equal weight” rating for the company in a research note on Wednesday, September 25th. Bank of America lowered shares of bluebird bio from a “buy” rating to a “neutral” rating and decreased their target price for the company from $60.00 to $10.00 in a research note on Friday, November 15th. Cantor Fitzgerald reissued a “neutral” rating on shares of bluebird bio in a research note on Monday, September 16th. Barclays decreased their target price on shares of bluebird bio from $80.00 to $40.00 and set an “overweight” rating for the company in a research note on Friday, November 15th. Finally, Royal Bank of Canada reissued a “sector perform” rating and set a $80.00 target price on shares of bluebird bio in a research note on Friday, November 15th. Three investment analysts have rated the stock with a sell rating, six have given a hold rating and two have issued a buy rating to the company. According to data from MarketBeat, bluebird bio currently has an average rating of “Hold” and a consensus target price of $49.14.

bluebird bio Stock Performance

The company has a debt-to-equity ratio of 0.37, a quick ratio of 0.33 and a current ratio of 0.51. The firm’s 50 day moving average is $8.61 and its 200-day moving average is $13.82. The firm has a market cap of $81.76 million, a price-to-earnings ratio of -4.50 and a beta of 0.72.

bluebird bio (NASDAQ:BLUE) last released its quarterly earnings data on Friday, September 27th. The biotechnology company reported ($8.40) earnings per share (EPS) for the quarter, missing the consensus estimate of ($8.00) by ($0.40). The business had revenue of $16.10 million during the quarter, compared to analyst estimates of $16.09 million. bluebird bio had a negative net margin of 565.74% and a negative return on equity of 322.46%. Sell-side analysts anticipate that bluebird bio, Inc. will post -1.35 earnings per share for the current fiscal year.

Institutional Inflows and Outflows

Several institutional investors have recently bought and sold shares of BLUE. AQR Capital Management LLC raised its holdings in bluebird bio by 315.3% in the 2nd quarter. AQR Capital Management LLC now owns 1,334,519 shares of the biotechnology company’s stock worth $1,223,000 after acquiring an additional 1,013,144 shares during the period. BNP Paribas Financial Markets raised its holdings in bluebird bio by 2,270.2% in the 3rd quarter. BNP Paribas Financial Markets now owns 371,224 shares of the biotechnology company’s stock worth $193,000 after acquiring an additional 355,562 shares during the period. FMR LLC raised its holdings in bluebird bio by 8.1% in the 3rd quarter. FMR LLC now owns 2,481,965 shares of the biotechnology company’s stock worth $1,289,000 after acquiring an additional 186,903 shares during the period. Barclays PLC increased its holdings in shares of bluebird bio by 273.7% during the 3rd quarter. Barclays PLC now owns 252,062 shares of the biotechnology company’s stock worth $130,000 after purchasing an additional 184,605 shares during the period. Finally, Geode Capital Management LLC increased its holdings in shares of bluebird bio by 3.7% during the 3rd quarter. Geode Capital Management LLC now owns 4,683,042 shares of the biotechnology company’s stock worth $2,433,000 after purchasing an additional 166,771 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.