Why Bluebird Bio Stock Plunged Today
Shares of Bluebird Bio (NASDAQ: BLUE) were plunging 19.3% lower as of 3:42 p.m. EST on Monday. The sharp decline came after two analysts downgraded Bluebird.
Goldman Sachs (NYSE: GS) analyst Salveen Richter downgraded the biotech stock from neutral to sell. Richter set a price target of $10, nearly 24% below Bluebird's closing price on Friday.
Morgan Stanley (NYSE: MS) analyst Matthew Harrison also downgraded the stock from equal weight to underweight (the equivalent of a sell recommendation). Harrison established a price target of $11, roughly 16% lower than Bluebird's closing price on Friday.
Source Fool.com
