#6 - bluebird bio (NASDAQ:BLUE)
Gene editing stocks are about balancing risk and reward.
In December 2023, bluebird bio Inc. (NASDAQ: BLUE) became the second company to have a gene editing treatment approved by the FDA with LYFGENIA. LYFGENIA is for patients 12 years and older with sickle cell disease and a history of vaso-occlusive events. The treatment, along with the company’s other investigational candidates, combines gene addition with an autologous hematopoietic stem cell transplant (HSCT).
You would think this would have the company’s stock soaring. But BLUE stock is down 72% in the last 12 months and 29% in 2024, despite the FDA approval. And as of August 6, 2024 the stock is trading at a 52-week low near $1.
The question is why? The answer may simply be that bluebird bio is a tiny company with just a $102 million market capitalization. Small-cap stocks have lagged the market for several years and BLUE stock is being heavily shorted with a short interest ratio of over 28%.
About bluebird bio
bluebird bio, Inc, a biotechnology company, researches, develops, and commercializes gene therapies for severe genetic diseases. Its product candidates for severe genetic diseases include ZYNTEGLO (betibeglogene autotemcel) for the treatment of transfusion-dependent ß-thalassemia; lovotibeglogene autotemcel for the treatment of sickle cell disease (SCD); and SKYSONA (elivaldogene autotemcel) to treat cerebral adrenoleukodystrophy.
Read More - Current Price
- $0.32
- Consensus Rating
- Hold
- Ratings Breakdown
- 2 Buy Ratings, 7 Hold Ratings, 2 Sell Ratings.
- Consensus Price Target
- $3.03 (843.0% Upside)
