Why Bluebird Bio Stock Soared 7% Higher on Tuesday
Bluebird Bio (NASDAQ: BLUE) had quite a ride with their stock on Tuesday. Following the gene-editing specialist's release of its latest quarterly results, its shares climbed to a more than 7% gain on the day. That was more than good enough to beat the 0.3% uptick of the S&P 500 index.
Before market open, Bluebird divulged it earned just under $12.4 million in its third quarter, well up from the $71,000 it booked in the same period of 2022. The specialty biotech also managed to narrow its net loss, which came in at $71.7 million, or $0.66 per share, against the year-ago deficit of $76.5 million.
That bottom-line result edged past the average analyst estimate, which was $0.67 per share. However, the consensus prognosticator forecast for revenue was nearly $13.6 million.
Source Fool.com
