2seventy bio, Inc. (TSVT) Surges 28.2%: Is This an Indication of Further Gains?
2seventy bio, Inc. (TSVT) shares rallied 28.2% in the last trading session to close at $5.14. This move can be attributable to notable volume with a higher number of shares being traded than in a typical session. This compares to the stock's 2.2% loss over the past four weeks.
The stock rallied driven by optimism over the company’s asset purchase agreement with Regeneron wherein the latter will acquire 2seventy bio’s oncology and autoimmune research and development pipeline and related platform technologies.
This company is expected to post quarterly loss of $1.14 per share in its upcoming report, which represents a year-over-year change of -90%. Revenues are expected to be $14.26 million, down 74.6% from the year-ago quarter.
Earnings and revenue growth expectations certainly give a good sense of the potential strength in a stock, but empirical research shows that trends in earnings estimate revisions are strongly correlated with near-term stock price movements.
For 2seventy bio, Inc., the consensus EPS estimate for the quarter has remained unchanged over the last 30 days. And a stock's price usually doesn't keep moving higher in the absence of any trend in earnings estimate revisions. So, make sure to keep an eye on TSVT going forward to see if this recent jump can turn into more strength down the road.
The stock currently carries a Zacks Rank #2 (Buy). You can see the complete list of today's Zacks Rank #1 (Strong Buy) stocks here >>>>
2seventy bio, Inc. is part of the Zacks Medical - Biomedical and Genetics industry. Autolus Therapeutics PLC Sponsored ADR (AUTL), another stock in the same industry, closed the last trading session 2.7% higher at $6.02. AUTL has returned -14.3% in the past month.
For Autolus Therapeutics PLC Sponsored ADR , the consensus EPS estimate for the upcoming report has remained unchanged over the past month at -$0.25. This represents a change of -8.7% from what the company reported a year ago. Autolus Therapeutics PLC Sponsored ADR currently has a Zacks Rank of #2 (Buy).
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