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

2Seventy Bio

08/05/2024 19:06

* 2Seventy Bio Inc  TSVT.OQ  reported a quarterly adjusted
loss of
$1.01​​ per share for the quarter ended in March, higher than
the same quarter last year, when the company reported EPS of
$-1.08.  The mean expectation of six analysts for the quarter
was for a loss of 81 cents per share. Wall Street expected
results to range from -96 cents to -49 cents per share.
    * Revenue fell 70.1% to $12.44 million from a year ago;
analysts
expected $14.09 million. 
    * 2Seventy Bio Inc's reported EPS for the quarter was a loss
of
$1.01​.
    * The company reported a quarterly loss of $52.67 million.
    * 2Seventy Bio Inc shares had fallen by 7.3% this
quarter and
gained 16.2% so far this year.

FORECAST CHANGES
    * The mean earnings estimate of analysts had fallen by
about 15.2%
in the last three months.​ 
    * In the last 30 days, one analyst negatively revised an
earnings
estimate

RECOMMENDATIONS
    * The current average analyst rating on the shares is "buy"
and
the breakdown of recommendations is 3 "strong buy" or "buy," 5
"hold" and no "sell" or "strong sell." 
    * The average consensus recommendation for the biotechnology
&
medical research peer group is also "buy"

Wall Street's median 12-month price target for 2Seventy Bio Inc
is $9.00 
This summary was machine generated from LSEG data May 8 at 06:06
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
 Mar. 31 2024      -0.81          -1.01          Missed
 Dec. 31 2023      -0.99          -1.11          Missed
 Sep. 30 2023      -1.03          -1.00          Beat
 Jun. 30 2023      -1.06          -0.83          Beat