Bluebird Bio price target lowered to $4 from $8 at Barclays

Barclays lowered the firm’s price target on Bluebird Bio to $4 from $8 and keeps an Overweight rating on the shares. The company reported a Q2 revenue miss with 27 cell collections completed to date, and management tightening 2024 guidance to 85 cell collections from 85-105 due to slightly longer process timelines resulting in revenue recognition delays despite strong demand, the analyst tells investors in a research note. The firm says Bluebird’s continued financial filing delay is not a concern.