Benzinga | Aug 6, 2020 11:42AM EDT

Why Bluebird Bio's Stock Is Trading Higher Today

Bluebird Bio (NASDAQ:BLUE) shares are trading higher on Thursday after the company reported second-quarter EPS and sales results up from last year. Wedbush also maintained its Outperform rating on the stock.

Bluebird Bio is a clinical-stage biotechnology company that develops gene therapies for severe genetic and rare diseases. The company's gene therapy procedures aim to genetically modify a patient's cells to fundamentally correct or address the genetic basis underlying a disease. Bluebird's revenue is derived from collaboration arrangements, research fees, license fees, and grant revenue. The company works with industry peers, strategic partners, and nonprofit organizations for the development and commercialization of its product candidates.

Bluebird Bio shares were trading up 9.54% at $67.98 on Thursday during the time of publication. The stock has a 52-week high of $126.39 and a 52-week low of $38.95.