2seventy bio (NASDAQ:TSVT) Price Target Lowered to $5.00 at Morgan Stanley

2seventy bio (NASDAQ:TSVT) had its price objective decreased by Morgan Stanley from $6.00 to $5.00 in a research report released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

TSVT has been the subject of a number of other research reports. Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 2seventy bio in a research report on Friday, March 7th. Finally, Leerink Partners reiterated a “market perform” rating and set a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday. One research analyst has rated the stock with a sell rating, four 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 a consensus rating of “Hold” and a consensus price target of $6.67.

2seventy bio Stock Performance

NASDAQ TSVT opened at $4.95 on Friday. 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. The company has a 50-day simple moving average of $2.72 and a 200 day simple moving average of $3.70.

Insider Activity

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On 2seventy bio

Several hedge funds have recently bought and sold shares of the stock. Bank of America Corp DE lifted its position in 2seventy bio by 317.1% during the fourth quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock valued at $7,397,000 after purchasing an additional 1,912,771 shares during the last quarter. Regeneron Pharmaceuticals Inc. bought a new stake in 2seventy bio during the fourth quarter valued at approximately $3,689,000. 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 purchasing an additional 13,144 shares during the last quarter. State Street Corp lifted its position in 2seventy bio by 1.5% during the third quarter. State Street Corp now owns 1,058,773 shares of the company’s stock valued at $4,997,000 after purchasing an additional 15,638 shares during the last quarter. Finally, Eversept Partners LP lifted its position in 2seventy bio by 0.6% during the fourth quarter. Eversept Partners LP now owns 1,003,678 shares of the company’s stock valued at $2,951,000 after purchasing an additional 5,599 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors.

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.