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

2seventy bio (NASDAQ:TSVT) released its quarterly earnings data 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. The business had revenue of $2.93 million during the quarter, compared to analyst estimates of $12.84 million. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%.

2seventy bio Stock Performance

Shares of NASDAQ:TSVT opened at $4.96 on Thursday. The firm has a fifty day moving average of $3.09 and a 200 day moving average of $3.71. The firm has a market capitalization of $255.88 million, a PE ratio of -2.67 and a beta of 1.73. 2seventy bio has a 52-week low of $2.29 and a 52-week high of $5.99.

Insider Buying and Selling at 2seventy bio

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

Analyst Upgrades and Downgrades

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

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.