Should you watch this small-cap healthcare stock in 2023?

April 03, 2023 04:53 AM PDT | By Raza Naqvi
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  • The BLUE stock is down 39.2 per cent since the past year.
  • Bluebird specializes in creating medications for conditions that are rare.
  • In 2022, the total revenue of Bluebird was US$ 3.59 million.

Bluebird Bio (NASDAQ: BLUE) had a significant year in 2022, as the biotech firm received two significant regulatory approvals in the United States. Despite these successes, the market hasn't exactly rewarded the gene-editing expert.

The BLUE stock is down 39.2 per cent since the past year and 54 per cent down year-to-date (YTD). If the biotech's grand strategy for the remainder of the year and beyond is successful, there might be an upside. As there is no guarantee, investors must research thoroughly before reaching any conclusion.

Should investors watch the Bluebird shares? Let's find out

What are the latest developments?

Bluebird specializes in creating medications for conditions that are rare. The company's recently authorized treatments include Skysona, a drug for cerebral adrenoleukodystrophy, and Zynteglo, a treatment for transfusion-dependent beta-thalassemia (TDT), a rare blood illness.

During its most recent quarterly update, the company stated that it has begun treating seven patients, five of whom were being treated with Zynteglo and the other two with Skysona.

Bluebird reportedly intends to submit an application for lovo-cel, a potential treatment for sickle cell disease (SCD), to the US Food and Drug Administration in the upcoming weeks. SCD is another uncommon blood disorder. This product could enhance the prospects for biotech.

Latest earnings of BLUE stock

In 2022, the total revenue of Bluebird was US$ 3.59 million, down from US$ 3.66 million in 2021. Meanwhile, in Q4 2022, the company's net gain was US$ 32.23 million compared to a net loss of US$ 155.05 million in Q4 2021.

The cash, cash equivalents and marketable securities at the end of December 2022 amounted to US$ 181.74 million, down from US$ 396.61 million in 2021.

Bottom line

Investing in stocks can be both exciting and risky at the same time. Therefore, it's crucial to assess the stock carefully before investing. There are several factors that one should consider before investing in any stock. Firstly, it's essential to evaluate the company's financial health, which includes analyzing its revenue, profits, and debt levels. One should also look into the company's management team, including their experience, track record, and ability to execute their business strategy.


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