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

BLUE has been the subject of several other research reports. Wedbush reaffirmed an outperform rating and issued a $100.00 price objective (down previously from $121.00) on shares of bluebird bio in a research report on Friday, June 23rd. BidaskClub upgraded bluebird bio from a buy rating to a strong-buy rating in a research note on Friday, June 23rd. Morgan Stanley reiterated an equal weight rating and set a $105.00 target price (up from $91.00) on shares of bluebird bio in a research note on Wednesday, June 14th. Cowen and Company reiterated a buy rating on shares of bluebird bio in a research note on Friday, June 23rd. Finally, Cantor Fitzgerald set a $39.00 price objective on bluebird bio and gave the stock a sell rating in a research note on Saturday, June 24th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company’s stock. The company has an average rating of Buy and an average target price of $100.02.

bluebird bio (NASDAQ:BLUE) traded up 0.986% during mid-day trading on Tuesday, hitting $94.775. 120,988 shares of the stock were exchanged. The firm’s market cap is $3.88 billion. bluebird bio has a 52-week low of $37.05 and a 52-week high of $123.75. The company has a 50 day moving average price of $102.43 and a 200 day moving average price of $86.97.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings data on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share (EPS) for the quarter, beating the consensus estimate of ($1.76) by $0.08. The company had revenue of $6.83 million for the quarter, compared to analysts’ expectations of $1.51 million. bluebird bio had a negative net margin of 2,402.03% and a negative return on equity of 35.17%. On average, analysts anticipate that bluebird bio will post ($6.70) EPS for the current year.

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In other bluebird bio news, insider David Davidson sold 1,000 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $90.00, for a total value of $90,000.00. Following the sale, the insider now owns 18,177 shares in the company, valued at $1,635,930. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Director Daniel Lynch sold 2,000 shares of the company’s stock in a transaction that occurred on Tuesday, April 25th. The shares were sold at an average price of $86.75, for a total value of $173,500.00. Following the completion of the sale, the director now owns 3,400 shares in the company, valued at approximately $294,950. The disclosure for this sale can be found here. Insiders have sold 76,245 shares of company stock valued at $7,924,508 over the last three months. Insiders own 3.90% of the company’s stock.

A number of hedge funds have recently added to or reduced their stakes in the stock. Aperio Group LLC raised its stake in bluebird bio by 10.9% in the second quarter. Aperio Group LLC now owns 5,001 shares of the biotechnology company’s stock valued at $525,000 after buying an additional 491 shares in the last quarter. Bank of Montreal Can raised its position in bluebird bio by 118.9% in the second quarter. Bank of Montreal Can now owns 1,677 shares of the biotechnology company’s stock worth $176,000 after buying an additional 911 shares during the period. Fox Run Management L.L.C. bought a new position in bluebird bio during the second quarter worth approximately $903,000. FNY Partners Fund LP raised its position in bluebird bio by 511,900.0% in the first quarter. FNY Partners Fund LP now owns 25,600 shares of the biotechnology company’s stock worth $2,327,000 after buying an additional 25,595 shares during the period. Finally, Driehaus Capital Management LLC raised its position in bluebird bio by 95.4% in the first quarter. Driehaus Capital Management LLC now owns 48,810 shares of the biotechnology company’s stock worth $4,437,000 after buying an additional 23,826 shares during the period.

bluebird bio Company Profile

bluebird bio, Inc is a clinical-stage biotechnology company. The Company is focused on developing gene therapies for severe diseases and cancer. With its lentiviral-based gene therapy and gene editing capabilities, it has built an integrated product platform with various applications in these areas. The Company’s clinical programs in severe genetic diseases include its LentiGlobin product candidate to treat transfusion-dependent b-thalassemia and to treat severe sickle cell disease (SCD) and its Lenti-D product candidate to treat cerebral adrenoleukodystrophy (CALD).

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