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

2seventy bio (NASDAQ:TSVT) announced its quarterly earnings data 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 net margin of 207.25% and a negative return on equity of 53.65%.

2seventy bio Trading Down 0.2 %

Shares of NASDAQ TSVT traded down $0.01 during midday trading on Tuesday, reaching $4.95. The company had a trading volume of 511,179 shares, compared to its average volume of 606,895. The stock has a market cap of $255.36 million, a P/E ratio of -2.66 and a beta of 1.73. The business’s 50-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.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the stock. Weiss Ratings restated a “sell (e+)” rating on shares of 2seventy bio in a research report on Saturday. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Morgan Stanley decreased their target price 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. Finally, 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. One research 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. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target of $6.67.

Insider Buying and Selling

In related news, CEO William D. Baird III sold 5,092 shares of the business’s stock in a transaction on 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. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s 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 5,152,093 shares of company stock valued at $25,400,018 over the last quarter. 7.20% of the stock is currently owned by company insiders.

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.