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Why Bluebird Bio's Stock Is Trading Lower Today

Why Bluebird Bio's Stock Is Trading Lower Today

Bluebird Bio (NASDAQ: BLUE) shares are trading lower on Thursday after the company reported third-quarter earnings results. BMO also downgraded the stock from Outperform to Market Perform with a price target of $56 per share.

Bluebird Bio is a clinical-stage biotechnology company that develops gene therapies for severe genetic and rare diseases. The company's gene therapy procedures aim to genetically modify a patient's cells to fundamentally correct or address the genetic basis underlying a disease.

Bluebird's revenue is derived from collaboration arrangements, research fees, license fees, and grant revenue. The company works with industry peers, strategic partners, and nonprofit organizations for the development and commercialization of its product candidates.

Bluebird Bio shares were trading down 15.78% at $49.31 on Thursday. The stock has a 52-week high of $99.36 and a 52-week low of $38.95.


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