bluebird bio (BLUE) has risen sharply, recording gains of 8.96% in the past 4 weeks. However, the stock has corrected -5.4% in the past 1 week, providing a good buying opportunity on dips. On a relative basis, the stock has outperformed the S&P 500 by 8.55% in the past 4 weeks, but has underperformed the S&P 500 in the past 1 week.
bluebird bio, Inc. is up 32.34% in the last 3-month period. Year-to-Date the stock performance stands at -16.33%. The stock has recorded a 20-day Moving Average of 2.84% and the 50-Day Moving Average is 10.91%.
bluebird bio (NASDAQ:BLUE): The stock opened at $56.68 on Friday but the bulls could not build on the opening and the stock topped out at $56.68 for the day. The stock traded down to $53.28 during the day, due to lack of any buying support eventually closed down at $53.73 with a loss of -5.24% for the day. The stock had closed at $56.70 on the previous day. The total traded volume was 1,257,212 shares.
Also, Cantor Fitzgerald initiates coverage on bluebird bio (NASDAQ:BLUE) In a research note issued to the investors, the brokerage major announces price-target of $42 per share.The shares have been rated Hold. The rating by the firm was issued on June 2, 2016.
bluebird bio, Inc. is a clinical-stage biotechnology company. The Company is focused on developing and commercializing products based on the transformative potential of gene therapy to treat patients with severe genetic diseases and cancer. The Companys products include Lenti-D, LentiGlobin and CAR T Cells. The Company is developing Lenti-D to treat patients with CCALD (Childhood cerebral adrenoleukodystrophy), the severe form of ALD (Adrenoleukodystrophy). The Company is conducting a Phase II/III clinical study of Lenti-D in the United States. The Company is developing LentiGlobin to treat patients with b-thalassemia and severe SCD (sickle cell disease). The Company is conducting a Phase I/II clinical study of LentiGlobin. It also initiated a second Phase I/II clinical study in the United States, Australia and Thailand for LentiGlobin. The Company is developing CAR T cell technology to deliver T cells engineered to kill the cancer.