Should You Buy the Dip With Bluebird Bio?
With shares of Bluebird Bio (NASDAQ: BLUE) down nearly 43% so far in 2022, it's reasonable to think that the gene therapy maverick is looking a bit worse for the wear. The past couple of years saw it retreating from the EU market, facing questions from regulators about the safety of its therapies, and confronting concerns about its solvency moving forward by doing extensive layoffs.
Nonetheless, a couple of major new developments could point toward a turnaround in progress. And that means there could be an opportunity for brave investors to buy the dip. However, let's analyze the situation before you go rushing to invest, as it's quite a risky proposition.
There are two big reasons supporting a purchase of Bluebird stock. In the last couple of months, it got the green light to commercialize two of its gene therapies in the U.S., Skysona and Zynteglo. Skysona treats cerebral adrenoleukodystrophy (CALD), a rare and ultimately fatal neurodegenerative disease that impacts young boys, and Zynteglo treats beta thalassemia, a hereditary blood disorder.
Source Fool.com
