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

2seventy bio, Inc. (NASDAQ:TSVT) – Investment analysts at Leerink Partnrs issued their Q1 2024 earnings estimates for shares of 2seventy bio in a report released 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) last posted its 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 for the quarter, compared to analysts’ expectations 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 period last year, the firm earned ($0.60) earnings per share.

A number of other brokerages have also commented on TSVT. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price target on shares of 2seventy bio in a research note on Monday, March 18th. SVB Leerink raised shares of 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. TD Cowen reissued a “market perform” rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Finally, Citigroup lifted their price objective on 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Monday. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. Based on data from MarketBeat, 2seventy bio presently has an average rating of “Hold” and a consensus price target of $13.17.

2seventy bio Stock Performance

NASDAQ TSVT opened at $5.23 on Wednesday. 2seventy bio has a fifty-two week low of $1.53 and a fifty-two week high of $12.69. The stock has a market cap of $268.35 million, a P/E ratio of -1.18 and a beta of 1.84. The stock has a 50 day simple moving average of $5.27 and a two-hundred day simple moving average of $3.95.

Insiders Place Their Bets

In related news, Director Casdin Capital, Llc purchased 300,000 shares of the business’s stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average price of $4.90 per share, for a total transaction of $1,470,000.00. Following the purchase, the director now directly owns 1,482,623 shares of the company’s stock, valued at approximately $7,264,852.70. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 2.60% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

Hedge funds have recently bought and sold shares of the company. Kynam Capital Management LP boosted its stake in 2seventy bio by 21.7% during the 3rd quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock valued at $23,339,000 after purchasing an additional 1,063,119 shares during the last quarter. Goldman Sachs Group Inc. boosted its position in shares of 2seventy bio by 512.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after buying an additional 3,772,556 shares during the last quarter. BlackRock Inc. increased its holdings in 2seventy bio by 30.8% in the 2nd quarter. BlackRock Inc. now owns 4,135,184 shares of the company’s stock worth $41,848,000 after buying an additional 974,661 shares in the last quarter. Vanguard Group Inc. raised its position in 2seventy bio by 6.7% in the 4th quarter. Vanguard Group Inc. now owns 3,985,770 shares of the company’s stock worth $17,019,000 after buying an additional 251,893 shares during the last quarter. Finally, State Street Corp bought a new position in 2seventy bio during the 1st quarter valued at about $53,909,000. 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.