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BlueBird Bio Unable To Rebound

Courtesy of Benzinga.

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BlueBird Bio Inc (NASDAQ: BLUE) shares are trading lower by $31 at $52.66 in Monday’s session. The catalyst for the decline is mixed sickle cell data from it latest trial. The poor results prompted three different Wall Street firms to lower their ratings, while another lowered its price target.

After a lower open, it rallied to $63.89 before resuming its descent. It reached $51.72 and has rebounded into the $52 handle.

That takes the issue back into a thinly traded level from December 2014. In that month, it rallied from a low of $39.02 and ended the year at $91.72.

Posted-In: Premarekt outlookTechnicals Intraday Update Movers Trading Ideas


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