2seventy bio, Inc. (NASDAQ:TSVT) Expected to Post Q1 2024 Earnings of ($0.49) Per Share

2seventy bio, Inc. (NASDAQ:TSVT - Free Report) - Analysts at Leerink Partnrs issued their Q1 2024 earnings per share (EPS) estimates for shares of 2seventy bio in a note issued to investors on Sunday, April 7th. Leerink Partnrs analyst D. Graybosch anticipates that the company will earn ($0.49) per share for the quarter. Leerink Partnrs has a "Outperform" rating on the stock. The consensus estimate for 2seventy bio's current full-year earnings is ($1.36) per share. Leerink Partnrs also issued estimates for 2seventy bio's Q2 2024 earnings at ($0.21) EPS, Q3 2024 earnings at $0.35 EPS, Q4 2024 earnings at $0.26 EPS, FY2024 earnings at ($0.09) EPS, FY2025 earnings at $1.39 EPS, FY2026 earnings at $0.83 EPS and FY2027 earnings at $1.31 EPS.

2seventy bio (NASDAQ:TSVT - Get Free Report) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($1.11) EPS for the quarter, beating the consensus estimate 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 firm had revenue of $10.68 million during the quarter, compared to the consensus estimate of $13.91 million. During the same period in the prior year, the company earned ($0.60) EPS.

Several other research analysts also recently commented on TSVT. Citigroup increased their price objective on 2seventy bio from $9.00 to $12.00 and gave the company a "buy" rating in a research note on Monday. TD Cowen restated a "market perform" rating on shares of 2seventy bio in a report on Wednesday, January 31st. SVB Leerink upgraded 2seventy bio from a "market perform" rating to an "outperform" rating and raised their target price for the company from $5.00 to $18.00 in a report on Wednesday, January 31st. Finally, Wedbush restated a "neutral" rating and set a $5.00 target price on shares of 2seventy bio in a report on Monday, March 18th. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, 2seventy bio has a consensus rating of "Hold" and an average price target of $13.17.

2seventy bio Price Performance

NASDAQ TSVT traded down $0.40 during mid-day trading on Wednesday, hitting $5.23. The stock had a trading volume of 849,807 shares, compared to its average volume of 1,471,963. The firm's 50 day moving average is $5.27 and its 200 day moving average is $3.95. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $12.69. The stock has a market capitalization of $268.35 million, a price-to-earnings ratio of -1.19 and a beta of 1.84.

Insider Activity

In related news, Director Casdin Capital, Llc acquired 330,000 shares of the firm's stock in a transaction dated Monday, March 25th. The stock was acquired at an average price of $5.07 per share, for a total transaction of $1,673,100.00. Following the purchase, the director now owns 1,960,000 shares of the company's stock, valued at approximately $9,937,200. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company's stock.

Hedge Funds Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Captrust Financial Advisors boosted its stake in shares of 2seventy bio by 6.9% in the 2nd quarter. Captrust Financial Advisors now owns 10,616 shares of the company's stock valued at $140,000 after buying an additional 684 shares during the period. Royal Bank of Canada boosted its stake in shares of 2seventy bio by 25.9% in the 3rd quarter. Royal Bank of Canada now owns 4,430 shares of the company's stock valued at $66,000 after buying an additional 910 shares during the period. Principal Financial Group Inc. raised its position in shares of 2seventy bio by 12.7% during the 1st quarter. Principal Financial Group Inc. now owns 12,292 shares of the company's stock worth $125,000 after acquiring an additional 1,389 shares in the last quarter. Metropolitan Life Insurance Co NY acquired a new stake in shares of 2seventy bio during the 1st quarter worth about $25,000. Finally, Legal & General Group Plc raised its position in shares of 2seventy bio by 7.4% during the 2nd quarter. Legal & General Group Plc now owns 22,820 shares of the company's stock worth $301,000 after acquiring an additional 1,566 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company's stock.

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.