2seventy bio’s (TSVT) Sell (D-) Rating Reaffirmed at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of 2seventy bio (NASDAQ:TSVT) in a report released on Tuesday,Weiss Ratings reports.

A number of other research analysts have also recently issued reports on the stock. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Leerink Partners reiterated a “market perform” rating and set a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased 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. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $5.60.

2seventy bio Price Performance

Shares of TSVT stock opened at $4.89 on Tuesday. 2seventy bio has a one year low of $2.29 and a one year high of $5.81. The stock has a fifty day moving average price of $3.63 and a 200 day moving average price of $3.73. The stock has a market cap of $255.93 million, a P/E ratio of -2.63 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT) last announced 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). 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The business had revenue of $2.93 million for the quarter, compared to the consensus estimate of $12.84 million. Equities research analysts anticipate that 2seventy bio will post -1.46 EPS for the current year.

Insider Buying and Selling

In related news, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction 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 completion of the sale, the chief executive officer now directly 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The disclosure for this sale can be found here. Insiders sold a total of 5,152,093 shares of company stock valued at $25,400,018 over the last ninety days. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. bought a new position in shares of 2seventy bio during the fourth quarter worth $32,000. BNP Paribas Financial Markets bought a new position in 2seventy bio during the fourth quarter worth about $35,000. ProShare Advisors LLC acquired a new position in 2seventy bio in the fourth quarter valued at about $48,000. Raymond James Financial Inc. acquired a new stake in shares of 2seventy bio during the fourth quarter worth about $52,000. Finally, Intech Investment Management LLC lifted its holdings in shares of 2seventy bio by 41.1% during the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after purchasing an additional 6,030 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

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.