bluebird bio (NASDAQ:BLUE) Receives “Sector Perform” Rating from Royal Bank of Canada

Royal Bank of Canada reiterated their sector perform rating on shares of bluebird bio (NASDAQ:BLUE) in a report issued on Wednesday morning, Benzinga reports. They currently have a $6.00 price objective on the biotechnology company’s stock.

A number of other equities analysts also recently weighed in on the company. Morgan Stanley upgraded bluebird bio from an underweight rating to an equal weight rating and boosted their target price for the stock from $3.00 to $7.00 in a research note on Friday, December 8th. Bank of America cut their target price on bluebird bio from $12.00 to $5.00 and set a buy rating on the stock in a research note on Thursday, December 21st. Wells Fargo & Company lowered their price target on shares of bluebird bio from $4.00 to $3.00 and set an equal weight rating on the stock in a report on Wednesday. Robert W. Baird lowered their price target on shares of bluebird bio from $10.00 to $7.00 and set an outperform rating on the stock in a report on Tuesday, December 12th. Finally, William Blair reaffirmed a market perform rating on shares of bluebird bio in a report on Tuesday, January 9th. Two research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, bluebird bio presently has a consensus rating of Hold and a consensus target price of $5.87.

bluebird bio Stock Up 13.8 %

Shares of NASDAQ BLUE opened at $1.37 on Wednesday. bluebird bio has a twelve month low of $0.88 and a twelve month high of $5.53. The stock’s 50 day moving average price is $1.24 and its 200-day moving average price is $2.28. The company has a market capitalization of $149.25 million, a PE ratio of -1.84 and a beta of 0.75.

Institutional Investors Weigh In On bluebird bio

A number of hedge funds and other institutional investors have recently bought and sold shares of BLUE. US Bancorp DE grew its position in shares of bluebird bio by 885.7% during the 2nd quarter. US Bancorp DE now owns 7,511 shares of the biotechnology company’s stock valued at $25,000 after purchasing an additional 6,749 shares in the last quarter. GSA Capital Partners LLP purchased a new position in bluebird bio in the fourth quarter worth $29,000. Stifel Financial Corp purchased a new stake in bluebird bio during the third quarter valued at about $32,000. Aigen Investment Management LP purchased a new stake in bluebird bio during the third quarter valued at about $34,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in bluebird bio during the fourth quarter valued at about $37,000. 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.