Bluebird Bio Down 16.70% To $1.13 After Earnings

Bluebird Bio (BLUE) said before open Tuesday that it broke even in quarter four 2023.

In the same quarter a year ago, the company lost $0.82 per share on revenue of $62 thousand.

The stock is down 16.70% to $1.13 after the report.

The firm's lower revenue growth to earnings signals that the firm has been able to reduce costs and improve its profit margin overall.

Wall Street Analysts had an average rating of Hold on the stock prior to the report.

InvestorsObserver gives the stock a Bearish Sentiment score at the moment based on recent trading.

Prior to the report, InvestorsObserver gave the stock an overall score of 38. Meanwhile, the average Wall Street analyst rated the stock a Hold.

bluebird bio Inc 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.