2seventy bio (NASDAQ:TSVT) Announces Earnings Results, Misses Expectations By $0.11 EPS

2seventy bio (NASDAQ:TSVT) issued its quarterly earnings data on Tuesday. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.20) by ($0.11), Zacks reports. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%.

2seventy bio Stock Performance

2seventy bio stock traded down $0.01 during midday trading on Tuesday, reaching $4.95. The stock had a trading volume of 511,179 shares, compared to its average volume of 606,895. The stock has a market capitalization of $255.36 million, a P/E ratio of -2.66 and a beta of 1.73. The firm’s fifty day simple moving average is $3.04 and its 200-day simple moving average is $3.70. 2seventy bio has a 1-year low of $2.29 and a 1-year high of $5.99.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on TSVT. Leerink Partners restated a “market perform” rating and issued a $5.00 target price (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Morgan Stanley lowered their price objective on shares of 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. Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 2seventy bio in a report on Saturday. One equities research 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 stock. Based on data from MarketBeat, 2seventy bio presently has a consensus rating of “Hold” and an average price target of $6.67.

Insiders Place Their Bets

In other 2seventy bio 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 stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the transaction, the chief executive officer now owns 1,121,034 shares of the company’s stock, valued at $5,549,118.30. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 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 shares were sold at an average price of $4.93, for a total value 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 valued at $25,400,018 in the last quarter. 7.20% of the stock is currently 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.