bluebird bio, Inc. (NASDAQ: BLUE) is a leading biotechnology company focusing on gene therapies for severe genetic diseases.
The company executed a 1-for-20 reverse stock split to meet Nasdaq’s minimum bid price requirement.
Post-split, BLUE aims to stabilize its stock price and maintain its NASDAQ listing, essential for future growth and investor confidence.
bluebird bio, Inc. (NASDAQ: BLUE) is a biotechnology company focused on developing gene therapies for severe genetic diseases. The company aims to transform the lives of patients by providing innovative treatments. BLUE competes with other biotech firms in the gene therapy space, striving to maintain its position in a rapidly evolving market.
On December 13, 2024, BLUE implemented a 1-for-20 reverse stock split. This move was approved by the Board of Directors and stockholders during the annual meeting on December 4, 2024. The reverse stock split aims to increase the per share market price, helping BLUE meet Nasdaq’s minimum bid price requirement for continued listing.
The reverse stock split took effect at 5 p.m. Eastern Time on December 12, 2024. BLUE began trading on a split-adjusted basis on December 13, 2024, under the same trading symbol “BLUE”. The new CUSIP number for the common stock post-split is 09609G 209, ensuring proper identification in the market.
Before the reverse stock split, BLUE’s stock price was $0.38, reflecting a 2.96% decrease. The stock price fluctuated between $0.3719 and $0.41 during the trading day. Over the past year, BLUE’s stock reached a high of $3.58 and a low of $0.29, indicating significant volatility.
BLUE’s market capitalization stands at approximately $73.89 million, with a trading volume of 5,050,689 shares. The reverse stock split is a strategic move to stabilize the stock price and maintain its NASDAQ listing, crucial for the company’s future growth and investor confidence.
