2seventy bio (NASDAQ:TSVT) Receives “Sell (E+)” Rating from Weiss Ratings

Weiss Ratings reaffirmed their sell (e+) rating on shares of 2seventy bio (NASDAQ:TSVT) in a research note published on Saturday,Weiss Ratings reports.

Several other research firms have also commented on TSVT. Leerink Partners reiterated a “market perform” rating and set a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Morgan Stanley cut their price target on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Finally, Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, 2seventy bio presently has a consensus rating of “Hold” and a consensus price target of $6.67.

2seventy bio Price Performance

NASDAQ TSVT opened at $4.95 on Friday. The firm has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. The company has a 50 day moving average price of $2.99 and a 200 day moving average price of $3.70. 2seventy bio has a 52 week low of $2.29 and a 52 week high of $5.99.

Insider Buying and Selling

In related news, CEO William D. Baird III sold 5,092 shares of the stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the sale, the chief executive officer now directly owns 1,121,034 shares of the company’s stock, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,152,093 shares of company stock valued at $25,400,018. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSVT. GSA Capital Partners LLP purchased a new position in 2seventy bio during the third quarter valued at $64,000. Intech Investment Management LLC purchased a new position in 2seventy bio during the third quarter valued at $69,000. FMR LLC lifted its holdings in 2seventy bio by 22.0% during 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 in the last quarter. BBR Partners LLC lifted its holdings in 2seventy bio by 620.0% during the third quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock valued at $850,000 after purchasing an additional 155,000 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in 2seventy bio during the third quarter valued at $244,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

2seventy bio Company Profile

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.