bluebird bio (NASDAQ:BLUE) Trading Down 16.9%

bluebird bio, Inc. (NASDAQ:BLUE)’s stock price fell 16.9% on Tuesday . The company traded as low as $1.07 and last traded at $1.13. 11,387,917 shares changed hands during trading, an increase of 15% from the average session volume of 9,874,187 shares. The stock had previously closed at $1.36.

Analyst Upgrades and Downgrades

Several analysts recently commented on BLUE shares. Morgan Stanley upgraded shares of bluebird bio from an “underweight” rating to an “equal weight” rating and raised their price objective for the company from $3.00 to $7.00 in a research note on Friday, December 8th. Bank of America lowered their target price on bluebird bio from $12.00 to $5.00 and set a “buy” rating on the stock in a report on Thursday, December 21st. Wells Fargo & Company cut their price target on bluebird bio from $4.00 to $3.00 and set an “equal weight” rating for the company in a research note on Wednesday. StockNews.com upgraded shares of bluebird bio to a “sell” rating in a report on Friday, December 8th. Finally, Robert W. Baird reduced their target price on bluebird bio from $10.00 to $7.00 and set an “outperform” rating on the stock in a research note on Tuesday, December 12th. Two equities research analysts have rated the stock with a sell rating, six have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, bluebird bio has an average rating of “Hold” and an average target price of $5.87.

bluebird bio Price Performance

The company has a 50 day moving average of $1.24 and a 200 day moving average of $2.28.

Institutional Inflows and Outflows

Several large investors have recently modified their holdings of the stock. HBK Investments L P acquired a new position in bluebird bio during the fourth quarter worth approximately $2,070,000. Vanguard Group Inc. grew its stake in shares of bluebird bio by 56.2% during the 4th quarter. Vanguard Group Inc. now owns 8,775,379 shares of the biotechnology company’s stock valued at $12,110,000 after buying an additional 3,157,919 shares during the period. Wellington Management Group LLP grew its stake in shares of bluebird bio by 5.4% during the 4th quarter. Wellington Management Group LLP now owns 613,641 shares of the biotechnology company’s stock valued at $847,000 after buying an additional 31,473 shares during the period. Goldman Sachs Group Inc. increased its stake in bluebird bio by 67.8% during the fourth quarter. Goldman Sachs Group Inc. now owns 1,276,586 shares of the biotechnology company’s stock worth $1,762,000 after acquiring an additional 515,812 shares during the last quarter. Finally, Virtu Financial LLC acquired a new stake in bluebird bio during the 4th quarter worth approximately $317,000. 87.43% of the stock is currently owned by hedge funds and other institutional investors.

bluebird bio Company Profile

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.