2seventy bio (TSVT) Set to Announce Quarterly Earnings on Wednesday

2seventy bio (NASDAQ:TSVT) is scheduled to be releasing its earnings data before the market opens on Wednesday, May 8th. Analysts expect 2seventy bio to post earnings of ($0.72) per share for the quarter.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings data on Tuesday, March 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of ($1.22) by $0.11. 2seventy bio had a negative return on equity of 59.19% and a negative net margin of 216.73%. The company had revenue of $10.68 million during the quarter, compared to the consensus estimate of $13.91 million. During the same period in the previous 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 Price Performance

Shares of NASDAQ:TSVT opened at $4.76 on Friday. The company has a market capitalization of $244.66 million, a P/E ratio of -1.08 and a beta of 1.87. 2seventy bio has a 1-year low of $1.53 and a 1-year high of $12.69. The firm’s 50 day simple moving average is $4.95 and its two-hundred day simple moving average is $4.04.

Insiders Place Their Bets

In other 2seventy bio news, Director Casdin Capital, Llc bought 330,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was purchased at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the completion of the acquisition, the director now owns 1,960,000 shares in the company, valued at approximately $9,937,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on TSVT shares. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a research note on Monday, March 18th. SVB Leerink raised 2seventy bio from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $5.00 to $18.00 in a research note on Wednesday, January 31st. Citigroup boosted their price target on 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, April 8th. TD Cowen reaffirmed a “market perform” rating on shares of 2seventy bio in a report on Wednesday, January 31st. Finally, Leerink Partnrs raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating 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. According to data from MarketBeat.com, 2seventy bio currently has a consensus rating of “Hold” and a consensus target price of $13.17.

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.