Short Interest in bluebird bio, Inc. (NASDAQ:BLUE) Drops By 12.6%

bluebird bio, Inc. (NASDAQ:BLUE - Get Free Report) was the recipient of a large decline in short interest in the month of March. As of March 31st, there was short interest totalling 29,750,000 shares, a decline of 12.6% from the March 15th total of 34,040,000 shares. Based on an average daily volume of 9,070,000 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analysts Forecast Growth

Several research firms recently issued reports on BLUE. Royal Bank of Canada reiterated a "sector perform" rating and issued a $6.00 target price on shares of bluebird bio in a research note on Wednesday, March 27th. HSBC decreased their target price on shares of bluebird bio from $2.31 to $1.02 and set a "reduce" rating for the company in a research note on Tuesday, March 5th. William Blair reissued a "market perform" rating on shares of bluebird bio in a report on Tuesday, January 9th. Bank of America cut their price target on shares of bluebird bio from $12.00 to $5.00 and set a "buy" rating for the company in a report on Thursday, December 21st. Finally, StockNews.com raised shares of bluebird bio to a "sell" rating in a report on Thursday, March 28th. Two research analysts have rated the stock with a sell rating, six have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $5.87.

bluebird bio Stock Down 5.2 %

Shares of bluebird bio stock traded down $0.06 during trading hours on Friday, reaching $1.10. 6,450,740 shares of the company's stock were exchanged, compared to its average volume of 6,412,589. bluebird bio has a 1 year low of $0.88 and a 1 year high of $5.53. The company has a market capitalization of $120.27 million, a P/E ratio of -1.49 and a beta of 0.74. The business has a fifty day moving average of $1.27 and a two-hundred day moving average of $2.10.

Institutional Investors Weigh In On bluebird bio

A number of large investors have recently modified their holdings of BLUE. US Bancorp DE grew its holdings in shares of bluebird bio by 885.7% in the second 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 during the period. GSA Capital Partners LLP purchased a new stake in shares of bluebird bio in the fourth quarter valued at about $29,000. Stifel Financial Corp purchased a new stake in shares of bluebird bio in the third quarter valued at about $32,000. Aigen Investment Management LP purchased a new stake in shares of bluebird bio in the third quarter valued at about $34,000. Finally, Sequoia Financial Advisors LLC purchased a new stake in shares of bluebird bio in the fourth quarter valued at about $37,000. Hedge funds and other institutional investors own 87.43% of the company's stock.

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.