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SVB Leerink Brokers Decrease Earnings Estimates for 2seventy bio, Inc. (NASDAQ:TSVT)

2seventy bio, Inc. (NASDAQ:TSVTGet Rating) – Investment analysts at SVB Leerink dropped their Q2 2022 earnings per share (EPS) estimates for shares of 2seventy bio in a report issued on Monday, July 11th. SVB Leerink analyst D. Graybosch now expects that the company will earn ($1.98) per share for the quarter, down from their previous forecast of ($1.19). The consensus estimate for 2seventy bio’s current full-year earnings is ($8.90) per share. SVB Leerink also issued estimates for 2seventy bio’s Q3 2022 earnings at ($4.52) EPS, Q4 2022 earnings at ($0.94) EPS, Q1 2023 earnings at ($0.52) EPS, Q2 2023 earnings at ($0.56) EPS, Q3 2023 earnings at ($0.70) EPS, Q4 2023 earnings at ($0.75) EPS, FY2023 earnings at ($2.53) EPS, FY2024 earnings at ($2.27) EPS, FY2025 earnings at ($2.03) EPS and FY2026 earnings at ($2.86) EPS. 2seventy bio (NASDAQ:TSVTGet Rating) last announced its earnings results on Thursday, May 12th. The company reported ($3.20) EPS for the quarter, missing analysts’ consensus estimates of ($1.73) by ($1.47). The company had revenue of $8.43 million during the quarter, compared to the consensus estimate of $22.66 million. During the same quarter in the prior year, the company posted ($3.73) earnings per share. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year.

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A number of other equities analysts have also recently commented on TSVT. The Goldman Sachs Group started coverage on 2seventy bio in a report on Monday, May 2nd. They issued a “buy” rating and a $26.00 target price on the stock. Morgan Stanley decreased their target price on 2seventy bio to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, May 17th. Six equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the company has a consensus rating of “Buy” and an average target price of $35.40.

Shares of 2seventy bio stock opened at $13.79 on Wednesday. 2seventy bio has a one year low of $9.91 and a one year high of $64.00. The stock’s fifty day moving average is $12.59 and its 200 day moving average is $15.67.

Institutional investors have recently modified their holdings of the company. Ameritas Investment Partners Inc. purchased a new position in shares of 2seventy bio during the first quarter valued at about $30,000. Metropolitan Life Insurance Co NY purchased a new position in shares of 2seventy bio during the first quarter valued at about $25,000. Amalgamated Bank purchased a new position in shares of 2seventy bio during the first quarter valued at about $46,000. Mirae Asset Global Investments Co. Ltd. purchased a new position in shares of 2seventy bio during the first quarter valued at about $1,213,000. Finally, Green Alpha Advisors LLC purchased a new position in shares of 2seventy bio during the second quarter valued at about $165,000. Hedge funds and other institutional investors own 50.43% of the company’s stock.

About 2seventy bio (Get Rating)

2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. Its products pipeline includes idecabtagene vicleucel; ide-cel or Abecma and bb21217; and CAR-T cell product candidates for the treatment of multiple myeloma.

Further Reading

Earnings History and Estimates for 2seventy bio (NASDAQ:TSVT)

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat’s editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.

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