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Bluebird Bio is a biotechnology company that develops gene therapies for treating rare diseases, cancer, and genetic disorders. The company’s mission is to create transformative gene therapies for patients with severe genetic diseases and cancer, with the goal of curing or significantly improving their quality of life.
Bluebird Bio’s approach to gene therapy involves using a patient’s own cells and genetically modifying them to correct or replace the faulty genes responsible for their disease. The company’s lead gene therapy products include LentiGlobin for the treatment of beta-thalassemia and sickle cell disease and ide-cel for the treatment of multiple myeloma.
In addition to its gene therapy programs, Bluebird Bio is also involved in developing CAR-T cell therapies for cancer treatment. The company’s CAR-T cell therapy, bb2121, targets the BCMA protein found on the surface of multiple myeloma cells.
The headquarters of Bluebird Bio is in Cambridge, Massachusetts, and it was established in 1992. The company has a global presence, with operations in Europe and Asia, and has partnerships with several other biotech and pharmaceutical companies.
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Bluebird Bio Stock Forecast in 2023
Bluebird Bio (BLUE) has been on a downtrend since 2018, with an all-time high of around $150 per share and a current price of $5.09 (as of this writing) per share. That means that BLUE has lost over 96% of its share value in the span of 5 years. At the rate Bluebird Bio is going, it will need very strong news to change the trajectory of its stock price.
We estimate that at some point in 2023, Bluebird will be trading at $2 per share or lower; our estimate is based on its past performance over the past five years. Bluebird got listed on the NASDAQ in 2014 at $16.5 per share, with the current market price there is little chance for recovery
Bluebird Bio Stock in 2022
Bluebird’s stock price has been greatly influenced by activities in the biotechnology space. The company experienced a lot of fluctuation in 2022. They were due to rumors of an acquisition that went around social media and the activities of investors.
In June, Bluebird had a 72% jump in price, and this was most likely because Bluebird Bio received a positive outcome from two important meetings held by the Food and Drug Administration (FDA) advisory committee on June 9 and 10. During these meetings, the committee members unanimously agreed that two of Bluebird Bio’s gene therapies – Elivaldogene Autotemcel for cerebral adrenoleukodystrophy (CALD) and Betibeglogene Au’totemcel for beta thalassemia – have a high likelihood of being safe and effective. It was a favorable development for the company as it paves the way for the potential approval and availability of these gene therapies to patients in the future.
Bluebird Bio Stock in 2021
In 2021, there were three significant times when the price per share of Bluebird tanked. The first was on the 15th of February, the next on the 9th of August, and the last on the 5th of November. We were unable to accurately pinpoint what catalyzed the dump in February.
In August 2021, Bluebird Bio’s shares plunged 23.3% following the company’s announcement of two negative developments in its second-quarter update. The first setback was the clinical hold placed by the U.S. Food and Drug Administration (FDA) on the phase 3 study featuring eli-cel. The second announcement was that the company would no longer focus on the European market, instead choosing to solely concentrate on the U.S. market for its severe genetic disease products. These announcements were unfavorable for the company and resulted in a significant drop in share prices.
In December 2021, Bluebird Bio’s shares dropped by 19.3% due to downgrades from two analysts, leading to a sharp decline in the stock’s value. Goldman Sachs analyst Salveen Richter lowered Bluebird’s rating from neutral to sell and predicted a price target of $10, almost 24% lower than the stock’s closing price on Friday. Similarly, Morgan Stanley analyst Matthew Harrison also downgraded the stock from equal weight to underweight (essentially a sell recommendation) and set a price target of $11, about 16% lower than the closing price. These ratings were not favorable for the company and contributed to the significant decrease in its share prices.
Bluebird Bio Stock in 2020
In 2020, after Bluebird crashed through February and March, the stock price fell from $60 per share to $26 per share. In April, Bluebird’s stock price experienced a relief bounce, soaring by 9%. The stock market experienced a positive gain following the announcement by the Federal Reserve Board that it would infuse an additional $2.3 trillion into the U.S. economy. The market as a whole was boosted by this news, resulting in a nice increase in share prices.
In November, Bluebird bio’s stock price fell from $38 to $29. Bluebird Bio’s shares decreased due to the company’s third-quarter earnings report. The decline is not so much due to the company’s financial performance – they reported a loss of $195 million on revenue of $19.3 million – but because of a delay in the potential approval of LentiGlobin as a treatment for sickle cell disease. Investors are understandably disappointed with the news, which has caused a negative reaction in the market.
Bluebird Bio Stock in 2019
In 2019, Bluebird bio stock price per share decreased after starting off the first quarter of the year on an uptrend. The company’s stock price has been on a downward trend since then, and here is why. Bluebird Bio, a clinical-stage biopharmaceutical company, recently released its second-quarter 2019 operating results. While there was not much clinical news to report, investors have become concerned about the company’s financial health.
In the second quarter and first half of 2019, the company reported operating losses of $202 million and $374 million, respectively. Although Bluebird Bio has $1.25 billion in cash and is planning to release its beta-thalassemia drug Zynteglo in 2020 in the European Union, analysts are skeptical that this will be sufficient to improve the company’s financial situation in the near future. These concerns have led to investor worry about the company’s future.
Bluebird Bio Stock in 2018
Bluebird Bio had a successful year in 2018, with significant progress made in their cell-based therapies resulting in impressive outcomes. However, despite these advancements, the early sales figures for the company’s treatments were lower than expected, which led to a significant decline in stock price. In fact, investors lowered the stock over the course of 2018 due to these disappointing sales figures.
Bluebird’s stock price reached its all-time high in March 2018 at above $150 per share. It crashed from its ATH of $57 in December. which is a 62% loss in 2018.
Bluebird Bio Stock in 2017
Bluebird Bio had a fantastic year in 2017, with shares more than tripling and the stock price experiencing three significant increases in June, August, and December. However, the biotech’s shares did experience a slight decrease in December, and they ended the year up by 188.7%.
During the annual American Society of Clinical Oncology (ASCO) meeting in June, Bluebird Bio and Celgene (CELG) shared data from the initial 15 multiple myeloma patients who received bb2121 at the top three doses. Even though the number of patients was small, investors were impressed by the 100% response rate, particularly because the patients had undergone an average of 7 therapies prior to that day.
By the end of August, investors viewed Gilead’s acquisition of Kite Pharma as a positive signal for the field of CAR-T therapy, and this made Bluebird Bio a potential acquisition target. While some questioned whether this actually increased Bluebird’s value since it already had an endorsement from Celgene, who was the more likely suitor, the stock price rose nonetheless, and long-term investors were pleased.
In December, Bluebird Bio and Celgene shared additional information on bb2121 at the American Society of Hematology (ASH) conference. The response rate decreased to 94%, but with more patients – 18 in total – and long-term data, investors were more convinced that the treatment was effective. Of the patients who received the treatment, 56% experienced a complete response, with 90% of those showing no detectable signs of the disease.
Conclusion
Bluebird Bio’s stock has had a volatile journey over the past few years. Despite promising developments in its pipeline and several successful clinical trials, the company has also faced setbacks and regulatory challenges that have impacted its stock price. Investors should carefully consider the risks and potential rewards before investing in Bluebird Bio, and stay up-to-date on the latest developments in the company’s pipeline.
While the future is uncertain, there is no doubt that Bluebird Bio’s innovative gene therapies have the potential to transform the lives of patients with serious medical conditions, and could generate significant returns for long-term investors.
FAQ
How can I stay up-to-date with Bluebird Bio’s stock price and news?
You can stay up-to-date with Bluebird Bio’s stock prices and news by regularly checking financial news websites, setting up price alerts on your trading platform, and following the company’s official social media accounts.
Is Bluebird Bio a high-risk investment?
Yes, investing in biotech companies like Bluebird Bio can be considered a high-risk investment due to the uncertainties associated with clinical trials and regulatory approvals. Before making any investing decisions, careful investigation and analysis are imperative.
What should I do if I experience losses in my Bluebird Bio investment?
If you experience losses in your Bluebird Bio investment or any other investment, it is recommended that you review your investment strategy, consult a financial advisor, and consider your risk tolerance before making any changes to your portfolio.
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