2seventy bio, Inc. (NASDAQ:TSVT) Receives $13.17 Average PT from Analysts

2seventy bio, Inc. (NASDAQ:TSVT) has earned a consensus recommendation of “Hold” from the eight brokerages that are covering the firm, MarketBeat.com reports. Five analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year target price among brokers that have updated their coverage on the stock in the last year is $13.17.

Several equities analysts recently weighed in on TSVT shares. TD Cowen reiterated a “market perform” rating on shares of 2seventy bio in a research report on Wednesday, January 31st. Citigroup boosted their price objective on 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, April 8th. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a research note on Monday, March 18th. Leerink Partnrs upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Finally, SVB Leerink raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $5.00 to $18.00 in a research note on Wednesday, January 31st.

Insider Buying and Selling

In related news, Director Casdin Capital, Llc purchased 300,000 shares of the firm’s stock in a transaction on Thursday, March 21st. The shares were acquired at an average price of $4.90 per share, for a total transaction of $1,470,000.00. Following the purchase, the director now directly owns 1,482,623 shares in the company, valued at $7,264,852.70. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. 2.60% of the stock is owned by company insiders.

Hedge Funds Weigh In On 2seventy bio

Several institutional investors have recently added to or reduced their stakes in TSVT. Goldman Sachs Group Inc. raised its holdings in shares of 2seventy bio by 512.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock worth $19,253,000 after acquiring an additional 3,772,556 shares in the last quarter. Newtyn Management LLC increased its position in 2seventy bio by 317.0% in the third quarter. Newtyn Management LLC now owns 3,076,490 shares of the company’s stock worth $12,060,000 after purchasing an additional 2,338,746 shares during the last quarter. Engine Capital Management LP increased its position in 2seventy bio by 337.1% in the fourth quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock worth $6,381,000 after purchasing an additional 1,152,434 shares during the last quarter. Kynam Capital Management LP raised its stake in 2seventy bio by 21.7% during the third quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock valued at $23,339,000 after purchasing an additional 1,063,119 shares in the last quarter. Finally, Madison Avenue Partners LP lifted its position in 2seventy bio by 17.4% during the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock valued at $7,493,000 after purchasing an additional 260,663 shares during the last quarter. Hedge funds and other institutional investors own 93.90% of the company’s stock.

2seventy bio Stock Up 0.9 %

Shares of NASDAQ:TSVT opened at $4.60 on Monday. The stock has a market capitalization of $236.46 million, a PE ratio of -1.04 and a beta of 1.84. The firm’s 50 day moving average price is $4.97 and its 200-day moving average price is $4.03. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $12.69.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.11. 2seventy bio had a negative net margin of 216.73% and a negative return on equity of 59.19%. The business had revenue of $10.68 million for the quarter, compared to the consensus estimate of $13.91 million. During the same period last year, the firm earned ($0.60) earnings per share. Analysts expect that 2seventy bio will post -1.39 earnings per share for the current fiscal year.

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.