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

2seventy bio stock traded down $0.01 during trading hours on Tuesday, reaching $4.95. The stock had a trading volume of 511,179 shares, compared to its average volume of 606,895. The company has a fifty day simple moving average of $3.04 and a 200-day simple moving average of $3.70. The stock has a market cap of $255.36 million, a PE ratio of -2.66 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 Activity at 2seventy bio

In other news, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction dated Monday, March 17th. The stock was 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 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 the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company’s 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 a total of 5,152,093 shares of company stock worth $25,400,018 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

TSVT has been the topic of a number of analyst reports. Leerink Partners reaffirmed a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 2seventy bio in a research note on Saturday. Morgan Stanley dropped their price target 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. Finally, Leerink Partnrs downgraded shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, 2seventy bio presently has an average rating of “Hold” and a consensus price target of $6.67.

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.