Bank of America downgrades Bluebird bio's stock to "Neutral," reflecting the biotech's financial struggles.

Bank of America downgraded Bluebird bio's stock from "Buy" to "Neutral," lowering the target price to $0.50. The biotech company, which develops gene therapies for severe genetic diseases, has seen mixed ratings from analysts. Despite recent downgrades, some like Barclays still rate it "Overweight." Bluebird bio's stock fell to $0.32, reflecting negative financial metrics like a 567.29% negative net margin. Institutional investors have increased their stakes in the company.

November 16, 2024
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