2seventy bio (NASDAQ:TSVT) Announces Quarterly Earnings Results, Misses Expectations By $0.08 EPS

2seventy bio (NASDAQ:TSVT) posted its earnings results on Tuesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08), Zacks reports. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. The firm had revenue of $2.93 million for the quarter, compared to analyst estimates of $12.84 million.

2seventy bio Stock Up 0.2 %

Shares of 2seventy bio stock opened at $4.96 on Thursday. 2seventy bio has a fifty-two week low of $2.29 and a fifty-two week high of $5.99. The firm has a market cap of $255.88 million, a price-to-earnings ratio of -2.67 and a beta of 1.73. The business has a fifty day simple moving average of $3.09 and a 200-day simple moving average of $3.71.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently weighed in on TSVT shares. Leerink Partners reaffirmed a “market perform” rating and set a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Morgan Stanley reduced their price target on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Weiss Ratings reissued a “sell (e+)” rating on shares of 2seventy bio in a report on Saturday, March 22nd. Finally, Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, 2seventy bio currently has an average rating of “Hold” and an average price target of $6.67.

Insider Transactions at 2seventy bio

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the sale, the chief executive officer now directly owns 1,121,034 shares of the company’s stock, valued at $5,549,118.30. This represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,152,093 shares of company stock valued at $25,400,018 in the last quarter. Insiders own 7.20% of the company’s stock.

About 2seventy bio

2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. The company's products pipeline includes Abecma, a chimeric antigen receptor T-cell product candidates for the treatment of multiple myeloma.