bluebird bio, Inc. (NASDAQ:BLUE) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a note issued to investors on Tuesday.

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. “

Other research analysts also recently issued research reports about the company. BMO Capital Markets restated a “buy” rating and set a $108.00 price target on shares of bluebird bio in a report on Tuesday, June 6th. Maxim Group upgraded bluebird bio from a “hold” rating to a “buy” rating and set a $100.00 price target on the stock in a report on Friday, June 2nd. BTIG Research restated a “buy” rating and set a $112.00 price target on shares of bluebird bio in a report on Thursday, June 1st. Standpoint Research started coverage on bluebird bio in a report on Tuesday, May 30th. They set a “buy” rating and a $110.00 price target on the stock. Finally, Jefferies Group LLC restated a “buy” rating and set a $88.00 price target on shares of bluebird bio in a report on Friday, March 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 stock currently has an average rating of “Buy” and a consensus price target of $100.02.

Shares of bluebird bio (NASDAQ BLUE) traded down 1.11% during midday trading on Tuesday, hitting $93.85. The company had a trading volume of 566,022 shares. bluebird bio has a 52 week low of $37.05 and a 52 week high of $123.75. The firm’s 50 day moving average is $97.43 and its 200 day moving average is $83.86. The company’s market capitalization is $3.84 billion.

bluebird bio (NASDAQ:BLUE) last announced its quarterly earnings results on Wednesday, May 3rd. The biotechnology company reported ($1.68) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.76) by $0.08. bluebird bio had a negative return on equity of 35.17% and a negative net margin of 2,402.03%. The company had revenue of $6.83 million for the quarter, compared to the consensus estimate of $1.51 million. Equities research 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 business’s stock in a transaction on Monday, June 5th. The shares were sold at an average price of $90.00, for a total transaction of $90,000.00. Following the completion of the sale, the insider now directly owns 18,177 shares in the company, valued at approximately $1,635,930. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, Director Daniel Lynch sold 2,000 shares of the business’s stock in a transaction on Tuesday, April 25th. The shares were sold at an average price of $86.75, for a total transaction of $173,500.00. Following the sale, the director now owns 3,400 shares of the company’s stock, valued at $294,950. The disclosure for this sale can be found here. Insiders sold a total of 76,245 shares of company stock worth $7,924,508 over the last ninety days. 3.90% of the stock is currently owned by insiders.

A number of large investors have recently made changes to their positions in BLUE. Russell Investments Group Ltd. bought a new stake in shares of bluebird bio during the fourth quarter worth $1,477,000. FMR LLC raised its stake in bluebird bio by 0.6% in the first quarter. FMR LLC now owns 6,126,713 shares of the biotechnology company’s stock valued at $556,918,000 after buying an additional 37,742 shares during the period. Advisors Asset Management Inc. bought a new stake in bluebird bio during the first quarter valued at approximately $858,000. Macquarie Group Ltd. bought a new stake in bluebird bio during the fourth quarter valued at approximately $703,000. Finally, Alliancebernstein L.P. raised its stake in bluebird bio by 50.1% in the first quarter. Alliancebernstein L.P. now owns 85,860 shares of the biotechnology company’s stock valued at $7,805,000 after buying an additional 28,640 shares during the period.

About bluebird bio

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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