bluebird bio, Inc. (NASDAQ:BLUE) Short Interest Update

bluebird bio, Inc. (NASDAQ:BLUE - Get Free Report) experienced a notable reduction in short interest during December. As of December 31st, short interest was reported at 2,410,000 shares, marking a 6.6% decrease from the December 15th total of 2,580,000 shares. Presently, 25.0% of the shares of bluebird bio are sold short. Utilizing the stock’s average daily trading volume of 405,100 shares, the short-interest ratio stands at approximately 5.9 days.

Analyst Ratings Changes

In recent updates, several equity analysts have provided their insights on bluebird bio. Barclays significantly raised its target price from $2.00 to $40.00, assigning the stock an "overweight" rating in a report dated December 31st. Additionally, StockNews.com initiated coverage on bluebird bio on December 20th and issued a "sell" rating. On November 15th, JPMorgan Chase & Co. downgraded bluebird bio from a "neutral" rating to an "underweight" rating. Moreover, Bank of America adjusted its rating from "buy" to "neutral" and lowered the price target from $60.00 to $10.00 on the same day. Similarly, Wells Fargo & Company decreased their target price from $60.00 to $40.00, maintaining an "equal weight" rating in a report on September 25th. Currently, analyst ratings indicate three research analysts have a "sell" rating, five have a "hold" rating, and two have a "buy" rating for bluebird bio, resulting in an average rating of "Hold" and an average target price of $49.14 according to MarketBeat.

bluebird bio Price Performance

On the trading front, bluebird bio’s stock saw a minor increase of $0.09, closing at $8.35 during trading on the last Friday reported. The trading volume for the stock reached 109,879 shares, while the average volume is recorded at 426,810 shares. The company’s market capitalization stands at $81.16 million, with a P/E ratio of -0.22 and a beta of 0.68. Bluebird bio has a 50-day moving average of $8.12 and a 200-day moving average of $12.23, with a 12-month low of $5.80 and a high of $38.40.

Institutional Investors Weigh In On bluebird bio

Recently, several large institutional investors made moves regarding shares of bluebird bio. Bank of New York Mellon Corp increased its position by 19.4% in the second quarter, now holding 685,757 shares valued at approximately $675,000 after acquiring an additional 111,574 shares. Rhumbline Advisers also raised its stake by 25.4% during the same period, holding 292,436 shares valued at around $288,000 following the purchase of 59,219 additional shares. AQR Capital Management LLC observed substantial growth in its holdings, increasing its stake by 315.3% in the second quarter, now owning 1,334,519 shares worth $1,223,000 after acquiring an additional 1,013,144 shares. Moreover, SG Americas Securities LLC increased its shares by 152.4%, owning 122,855 shares valued at $64,000 after acquiring 74,185 shares. Lastly, FMR LLC raised its stake in bluebird bio by 8.1%, owning 2,481,965 shares worth around $1,289,000 after purchasing an extra 186,903 shares. Institutional investors and hedge funds collectively hold 87.43% of bluebird bio’s stock.

bluebird bio Company Overview

bluebird bio, Inc. specializes in the research, development, and commercialization of gene therapies aimed at treating severe genetic diseases. The company’s product pipeline includes therapies like ZYNTEGLO (betibeglogene autotemcel) for transfusion-dependent β-thalassemia, lovotibeglogene autotemcel for sickle cell disease (SCD), and SKYSONA (elivaldogene autotemcel) for cerebral adrenoleukodystrophy.

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