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. 

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Source Fool.com