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

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

2seventy bio Price Performance

NASDAQ:TSVT traded down $0.01 during trading hours on Tuesday, reaching $4.95. 511,179 shares of the company were exchanged, compared to its average volume of 606,895. The business has a 50 day moving average of $3.04 and a 200 day moving average of $3.70. 2seventy bio has a 1-year low of $2.29 and a 1-year high of $5.99. The company has a market capitalization of $255.36 million, a P/E ratio of -2.66 and a beta of 1.73.

Insider Buying and Selling at 2seventy bio

In related news, CEO William D. Baird III sold 5,092 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the transaction, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’s stock in a transaction dated 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 5,152,093 shares of company stock valued at $25,400,018 in the last three months. Corporate insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

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