Why Bluebird Bio Stock Dived Into the Red on Tuesday

Investors were clearly feeling blue about Bluebird Bio (BLUE -9.15%) on Tuesday. Collectively, they traded the commercial-stage biotech stock down by more than 9% in Tuesday's trading, not long after an analyst cut his price target on the shares. That price decline was far more dramatic than the 1% slip of the S&P 500 index on the day.A deep price cut from HSBCAfter market close on Monday, HSBC's Morten Herholt reduced his Bluebird Bio fair value assessment to $1.02 per share. That represents a 56% cut from ...