2seventy bio (NASDAQ:TSVT) Announces 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. The company had revenue of $2.93 million during the quarter, compared to analysts’ expectations of $12.84 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%.

2seventy bio Price Performance

Shares of TSVT opened at $4.96 on Thursday. 2seventy bio has a 12 month low of $2.29 and a 12 month high of $5.99. The stock’s 50-day moving average is $3.09 and its two-hundred day moving average is $3.71. The stock has a market cap of $255.88 million, a PE ratio of -2.67 and a beta of 1.73.

Wall Street Analysts Forecast Growth

TSVT has been the topic of several analyst reports. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 2seventy bio in a report on Saturday, March 22nd. Morgan Stanley reduced their target price on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Leerink Partners restated a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned 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 presently has a consensus rating of “Hold” and an average price target of $6.67.

Insider Activity

In other news, CEO William D. Baird III sold 5,092 shares of the business’s stock in a transaction that occurred on 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 owns 1,121,034 shares in the company, valued at $5,549,118.30. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 5,152,093 shares of company stock worth $25,400,018 over the last ninety days. Corporate 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.