bluebird bio, Inc. (BLUE) Downgraded by Zacks Investment Research

Zacks Investment Research cut shares of bluebird bio, Inc. (NASDAQ:BLUE) from a buy rating to a hold rating in a research note released on Thursday morning.

According to Zacks, “Bluebird Bio, Inc. is a biotechnology company. It focuses on the development, manufacture and marketing of therapies for severe genetic disorders such as childhood cerebral adrenoleukodystrophy, neurodegenerative disorders and beta-thalassemia. The company operates in the U.S. and Europe. Bluebird Bio, Inc. is headquartered in Cambridge, Massachusetts. “

A number of other equities research analysts have also issued reports on the stock. Roth Capital reissued a neutral rating and set a $71.00 target price (down previously from $87.00) on shares of bluebird bio in a research note on Monday, February 6th. Maxim Group set a $87.00 target price on shares of bluebird bio and gave the company a buy rating in a research note on Friday, February 3rd. Jefferies Group LLC reissued a buy rating and set a $88.00 target price on shares of bluebird bio in a research note on Tuesday, January 10th. Cantor Fitzgerald reissued a sell rating on shares of bluebird bio in a research note on Saturday, December 10th. Finally, J P Morgan Chase & Co reissued a buy rating and set a $120.00 target price on shares of bluebird bio in a research note on Wednesday, December 7th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have issued a buy rating to the company’s stock. bluebird bio has an average rating of Buy and an average price target of $84.36.

Analyst Recommendations for bluebird bio (NASDAQ:BLUE)

Shares of bluebird bio (NASDAQ:BLUE) opened at 76.45 on Thursday. The stock’s market cap is $2.85 billion. bluebird bio has a 52 week low of $35.37 and a 52 week high of $79.70. The stock’s 50 day moving average price is $69.20 and its 200 day moving average price is $62.42.

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In related news, insider Jason Cole sold 549 shares of bluebird bio stock in a transaction on Thursday, January 5th. The shares were sold at an average price of $67.10, for a total value of $36,837.90. Following the transaction, the insider now owns 9,389 shares in the company, valued at approximately $630,001.90. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, insider David Davidson sold 6,000 shares of bluebird bio stock in a transaction on Friday, January 27th. The stock was sold at an average price of $69.02, for a total transaction of $414,120.00. Following the completion of the transaction, the insider now owns 14,677 shares in the company, valued at approximately $1,013,006.54. The disclosure for this sale can be found here. Insiders sold a total of 15,549 shares of company stock worth $1,121,368 in the last quarter. Insiders own 3.50% of the company’s stock.

A number of hedge funds and other institutional investors have recently made changes to their positions in the company. Capital Fund Management S.A. increased its position in bluebird bio by 1,233.8% in the second quarter. Capital Fund Management S.A. now owns 6,803 shares of the company’s stock valued at $295,000 after buying an additional 7,403 shares during the last quarter. CAM Group Holding A S increased its position in bluebird bio by 28.0% in the second quarter. CAM Group Holding A S now owns 6,400 shares of the company’s stock valued at $277,000 after buying an additional 1,400 shares during the last quarter. Emerald Acquisition Ltd. bought a new position in bluebird bio during the second quarter valued at about $255,000. JPMorgan Chase & Co. increased its position in bluebird bio by 43.0% in the second quarter. JPMorgan Chase & Co. now owns 85,235 shares of the company’s stock valued at $3,690,000 after buying an additional 25,612 shares during the last quarter. Finally, Teacher Retirement System of Texas increased its position in bluebird bio by 25.3% in the second quarter. Teacher Retirement System of Texas now owns 5,114 shares of the company’s stock valued at $221,000 after buying an additional 1,034 shares during the last quarter.

bluebird bio Company Profile

bluebird bio, Inc is a biotechnology company. The Company is focused on developing transformative gene therapies for severe genetic and rare diseases and in the field of T cell-based immunotherapy. Its gene therapy clinical programs include LentiGlobin product candidate to treat transfusion-dependent B-thalassemia (TDT) and severe sickle cell disease (SCD), and Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD), a rare hereditary neurological disorder.

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