$BLUEBIRD BIO INC(BLUE)$  this company is the leading horseman in GENE THERAPY area. They have three MAIN value drivers: Beta-Thalassemia, Sickle Cell Disease (SCD) and CCALD. Of course, they also work with $新基(CELG)$  in the EXTREMELY HOT (stretched valuation) CAR-T area. However, if you have been following this company seriously, you should know their CAR-T program is still in the early stage which means it contributes a much less value to the company when you model. In fact, most of the analysts from both sell-side and buy-side value their CAR-T program at the range from $3-$ 10 when they model the company.  The KEY drivers are the Beta-Thalassemia and SCD programs (CCALD is usually given a $3 -$ 5 value currently).

IMHO, if you a talking Immuno-Oncology or Gene Therapy, it is appropriate to tag this company with companies like $百时美施贵宝(BMY)$  $默克(MRK)$  $罗氏控股(RHHBY)$   or $SPARK THERAPEUTICS INC(ONCE)$  $Avalanche Biotechnologies(AAVL)$  $uniQure(QURE)$ 

The basic idea behind this is quite simple: Just focus the things that are most valuable to a company.

After this morning's news, we have at least four PT increase today on this company (JPMorgan, BAML, Piper Jaffray and Wedbush). So the stock has enjoyed quite a run today.

Downside risk still exists and may hurt the company at any time you might not expect. Moreover, the sentiment of the entire market also matters.

Caveat Emptor