Bluebird Bio (BLUE) Reports Q3 Loss, Lags Revenue Estimates

Company Performance - Bluebird Bio reported a quarterly loss of $0.31 per share, better than the Zacks Consensus Estimate of a loss of $0.38, and an improvement from a loss of $0.66 per share a year ago, representing an earnings surprise of 18.42% [1] - The company posted revenues of $10.61 million for the quarter ended September 2024, missing the Zacks Consensus Estimate by 42.12%, and down from $12.39 million in the same quarter last year [2] - Over the last four quarters, Bluebird has surpassed consensus EPS estimates only once and has topped consensus revenue estimates just once [2] Stock Performance - Bluebird shares have declined approximately 72.7% since the beginning of the year, contrasting with the S&P 500's gain of 25.5% [3] - The current consensus EPS estimate for the upcoming quarter is -$0.25 on revenues of $30.51 million, and for the current fiscal year, it is -$1.41 on revenues of $83.52 million [7] Industry Outlook - The Medical - Biomedical and Genetics industry, to which Bluebird belongs, is currently ranked in the top 29% of over 250 Zacks industries, indicating a favorable outlook [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can impact Bluebird's stock performance [5][6]