Leerink Partners Reiterates Market Perform Rating for 2seventy bio (NASDAQ:TSVT)

2seventy bio (NASDAQ:TSVT)‘s stock had its “market perform” rating reiterated by investment analysts at Leerink Partners in a report released on Tuesday,Benzinga reports. They presently have a $5.00 target price on the stock, down from their prior target price of $9.00. Leerink Partners’ price objective suggests a potential upside of 1.01% from the company’s previous close.

Separately, Weiss Ratings reiterated a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, three have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $6.83.

2seventy bio Price Performance

Shares of TSVT opened at $4.95 on Tuesday. The company has a 50-day simple moving average of $2.64 and a 200-day simple moving average of $3.68. The company has a market capitalization of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio has a 52-week low of $2.29 and a 52-week high of $5.99.

Institutional Investors Weigh In On 2seventy bio

Hedge funds have recently modified their holdings of the company. BBR Partners LLC boosted its stake in shares of 2seventy bio by 620.0% during the 3rd quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock worth $850,000 after purchasing an additional 155,000 shares during the last quarter. Rhumbline Advisers lifted its position in 2seventy bio by 9.5% during the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock valued at $249,000 after buying an additional 7,379 shares in the last quarter. Geode Capital Management LLC lifted its position in 2seventy bio by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock valued at $5,553,000 after buying an additional 13,144 shares in the last quarter. GSA Capital Partners LLP acquired a new position in 2seventy bio during the third quarter valued at approximately $64,000. Finally, FMR LLC boosted its stake in shares of 2seventy bio by 22.0% in the third quarter. FMR LLC now owns 148,545 shares of the company’s stock valued at $701,000 after purchasing an additional 26,738 shares during the period. 93.90% of the stock is owned by institutional investors and hedge funds.

About 2seventy bio

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.