2seventy bio (TSVT) to Release Quarterly Earnings on Wednesday

2seventy bio (NASDAQ:TSVT) will announce its earnings results before the market opens on Wednesday, May 8th. Analysts expect the company to announce earnings of ($0.72) per share for the quarter. Parties interested in listening to the company’s conference call can do so using this link.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.11. The company had revenue of $10.68 million during the quarter, compared to the consensus estimate of $13.91 million. 2seventy bio had a negative return on equity of 59.19% and a negative net margin of 216.73%. During the same quarter in the prior year, the company posted ($0.60) EPS. On average, analysts expect 2seventy bio to post $-1 EPS for the current fiscal year and $0 EPS for the next fiscal year.

2seventy bio Stock Performance

2seventy bio stock traded up $0.13 during mid-day trading on Monday, hitting $4.89. 183,914 shares of the company’s stock were exchanged, compared to its average volume of 1,323,349. The company’s 50 day simple moving average is $4.95 and its 200-day simple moving average is $4.04. 2seventy bio has a fifty-two week low of $1.53 and a fifty-two week high of $12.69.

Insider Activity

In other 2seventy bio news, Director Casdin Capital, Llc acquired 330,000 shares of the company’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average price of $5.07 per share, for a total transaction of $1,673,100.00. Following the completion of the acquisition, the director now owns 1,960,000 shares of the company’s stock, valued at approximately $9,937,200. The acquisition was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have commented on TSVT shares. SVB Leerink raised 2seventy bio from a “market perform” rating to an “outperform” rating and lifted their price target for the stock from $5.00 to $18.00 in a research note on Wednesday, January 31st. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target on shares of 2seventy bio in a report on Monday, March 18th. Leerink Partnrs raised 2seventy bio from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Citigroup upped their price target on shares of 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, TD Cowen restated a “market perform” rating on shares of 2seventy bio in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $13.17.

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.