Bluebird Bio downgraded to Underweight from Neutral at JPMorgan

JPMorgan downgraded Bluebird Bio (BLUE) to Underweight from Neutral without a price target post the Q3 report. Bluebird missed on sales and notably reduced its cash runway to into Q1 of 2025 from in Q2 of 2025, the analyst tells investors in a research note. Furthermore, the recent proxy vote did not have sufficient votes to authorize a reverse stock split and subsequent increased allocation for share issuance, thereby removing the possibility of equity financing as a means by which to raise capital, contends JPMorgan. The firm sees “few avenues” for Bluebird Bio to emerge from remaining a going concern.