2seventy bio (NASDAQ:TSVT) Releases Earnings Results, Misses Estimates By $0.08 EPS

2seventy bio (NASDAQ:TSVT) posted its quarterly earnings results on Tuesday. The company reported ($0.31) EPS for the quarter, missing the consensus estimate 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 business had revenue of $2.93 million during the quarter, compared to analysts’ expectations of $12.84 million.

2seventy bio Stock Performance

Shares of TSVT opened at $4.96 on Thursday. 2seventy bio has a one year low of $2.29 and a one year high of $5.99. The stock has a 50-day moving average price of $3.09 and a 200 day moving average price of $3.71. The company has a market capitalization of $255.88 million, a P/E ratio of -2.67 and a beta of 1.73.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Baird III sold 5,092 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the sale, the chief executive officer now owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 5,152,093 shares of company stock worth $25,400,018 in the last three months. 7.20% of the stock is owned by insiders.

2seventy bio Company Profile

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.