2Seventy Bio Inc reports results for the quarter ended in June - Earnings Summary

2Seventy Bio

07/08/2024 14:32

* 2Seventy Bio Inc  TSVT.OQ  reported quarterly adjusted
earnings
of 45 cents​​ per share for the quarter ended in June, higher
than the same quarter last year, when the company reported EPS
of -83 cents.  The mean expectation of six analysts for the
quarter was for a loss of 65 cents per share. Wall Street
expected results to range from -79 cents to -21 cents per share.
    * Revenue fell 75.1% to $8.97 million from a year ago;
analysts
expected $14.20 million. 
    * 2Seventy Bio Inc's reported EPS for the quarter was 45
cents​.
    * The company reported quarterly net income of $24.88
million.
    * 2Seventy Bio Inc shares had risen by 4.4% this quarter and
lost 5.9% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 3.5%
in the last three months.​ 
    * In the last 30 days, there have been no earnings estimate
revisions by analysts covering the company.

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 2 "strong buy" or "buy," 3
"hold" and 1 "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is  "hold."

Wall Street's median 12-month price target for 2Seventy Bio Inc
is $8.00 
This summary was machine generated from LSEG data August 7 at
01:32 p.m. UTC. ​All figures in US dollars unless otherwise
stated. (For questions concerning the data in this report,
contact Estimates.Support@lseg.com. For any other questions or
feedback, contact RefinitivNewsSupport@thomsonreuters.com) QUARTER ENDING    ESTIMATE       ACTUAL         BEAT, MET,
                                                 MISSED
 Jun. 30 2024      -0.65          0.45           Beat
 Mar. 31 2024      -0.81          -1.01          Missed
 Dec. 31 2023      -0.99          -1.11          Missed
 Sep. 30 2023      -1.03          -1.00          Beat