Bluebird Bio Plunges On Lower Quarterly Revenue Below Estimates

Shares of bluebird bio, Inc. (BLUE) are falling more than 28% Wednesday morning after reporting lower revenue in the fourth quarter, that missed analysts' view.

Quarterly revenue was $0.06 million, lower than $1.6 million in the same quarter a year ago, as there were no product revenue in the latest quarter. In the prior-year quarter, product revenue was $1.36 million. Analysts on average, were expecting revenue of $13.53 million for the quarter.

The company reported net income from continuing operations of $32.23 million or $0.38 per share compared with a loss of $132.33 million or $1.83 per share in the same quarter a year ago. The consensus estimate was for a loss of $0.44 per share. bluebird bio had a gain $102 million in the latest quarter from sales of priority review voucher.

BLUE, currently at $3.07, has traded in the range of $2.87- $8.58 in the last 1 year.

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