Analysts Set 2seventy bio, Inc. (NASDAQ:TSVT) Price Target at $6.67

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have been given a consensus rating of “Hold” by the eight brokerages that are presently covering the company, Marketbeat reports. One investment analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, two have issued a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among brokers that have covered the stock in the last year is $6.67.

A number of brokerages recently commented on TSVT. Weiss Ratings reiterated a “sell (e+)” rating on shares of 2seventy bio in a research report on Saturday, March 22nd. Leerink Partners reissued a “market perform” rating and set a $5.00 price target (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Morgan Stanley cut their price objective on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report 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.

Insider Buying and Selling

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the transaction, the chief executive officer now owns 1,121,034 shares of the company’s stock, valued at $5,549,118.30. The trade was a 0.45 % decrease in their ownership of the stock. The transaction 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 2seventy bio stock in a transaction 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 disclosure for this sale can be found here. Insiders sold 5,152,093 shares of company stock worth $25,400,018 over the last 90 days. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On 2seventy bio

Hedge funds have recently made changes to their positions in the business. Erste Asset Management GmbH purchased a new position in 2seventy bio in the 3rd quarter valued at $25,000. China Universal Asset Management Co. Ltd. purchased a new stake in 2seventy bio during the fourth quarter worth $32,000. Readystate Asset Management LP acquired a new stake in 2seventy bio in the 3rd quarter valued at about $53,000. BNP Paribas Financial Markets purchased a new position in shares of 2seventy bio during the 4th quarter worth approximately $35,000. Finally, Intech Investment Management LLC acquired a new position in shares of 2seventy bio in the third quarter worth $69,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

2seventy bio Stock Down 0.4 %

TSVT opened at $4.95 on Friday. The firm’s 50-day moving average price is $3.48 and its 200-day moving average price is $3.72. The company has a market cap of $259.07 million, a P/E ratio of -2.66 and a beta of 1.04. 2seventy bio has a 52-week low of $2.29 and a 52-week high of $5.81.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08). The firm had revenue of $2.93 million for the quarter, compared to analyst estimates of $12.84 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. On average, research analysts anticipate that 2seventy bio will post -1.46 EPS for the current fiscal year.

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.