2seventy bio, Inc. (NASDAQ:TSVT) Given Average Recommendation of “Hold” by Brokerages

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have been given an average rating of “Hold” by the seven research firms that are presently covering the stock, MarketBeat.com reports. 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. The average twelve-month price objective among analysts that have issued ratings on the stock in the last year is $5.60.

A number of equities analysts have issued reports on TSVT shares. 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 research report on Tuesday, March 11th. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Morgan Stanley dropped 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 report on Friday, March 14th. Finally, Weiss Ratings reiterated a “sell (e+)” rating on shares of 2seventy bio in a research report on Thursday, April 24th.

2seventy bio Trading Up 0.2 %

TSVT opened at $4.99 on Tuesday. 2seventy bio has a 12-month low of $2.29 and a 12-month high of $5.30. The firm has a market capitalization of $261.17 million, a PE ratio of -2.68 and a beta of 1.04. The firm has a 50 day moving average of $4.36 and a two-hundred day moving average of $3.75.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings results on Tuesday, March 25th. The company reported ($0.31) earnings per share (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 analysts’ expectations of $12.84 million. As a group, analysts predict that 2seventy bio will post -1.46 EPS for the current fiscal year.

Insider Activity at 2seventy bio

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $4.95, for a total value of $25,205.40. Following the completion of the sale, the chief executive officer now owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction dated 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. In the last three months, insiders have sold 5,152,093 shares of company stock valued at $25,400,018. 7.20% of the stock is owned by corporate insiders.

Institutional Trading of 2seventy bio

A number of hedge funds have recently bought and sold shares of TSVT. State Street Corp raised its holdings in 2seventy bio by 1.5% in the 3rd quarter. State Street Corp now owns 1,058,773 shares of the company’s stock valued at $4,997,000 after acquiring an additional 15,638 shares during the last quarter. Geode Capital Management LLC raised its holdings in 2seventy bio by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock valued at $5,553,000 after acquiring an additional 13,144 shares during the last quarter. China Universal Asset Management Co. Ltd. acquired a new stake in 2seventy bio in the 4th quarter valued at about $32,000. Rhumbline Advisers increased its holdings in shares of 2seventy bio by 9.5% during the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock worth $249,000 after buying an additional 7,379 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its position in 2seventy bio by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 428,660 shares of the company’s stock worth $1,260,000 after acquiring an additional 15,061 shares during the period. Institutional investors and hedge funds own 93.90% of the company’s stock.

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.