2seventy bio, Inc. (NASDAQ:TSVT) Receives $9.00 Average Target Price from Analysts

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have been assigned a consensus rating of “Moderate Buy” from the nine brokerages that are covering the stock, MarketBeat Ratings reports. One research analyst has rated the stock with a sell recommendation, three have issued a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1-year price target among brokerages that have issued ratings on the stock in the last year is $9.00.

A number of equities analysts recently commented on TSVT shares. Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research report on Thursday, June 27th. Morgan Stanley cut their price target on shares of 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, July 29th.

2seventy bio Stock Performance

Shares of TSVT opened at $5.06 on Monday. The stock has a 50 day moving average price of $4.75 and a 200 day moving average price of $4.53. 2seventy bio has a one year low of $1.53 and a one year high of $6.40. The stock has a market capitalization of $260.11 million, a price-to-earnings ratio of -1.16 and a beta of 1.77.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings results on Wednesday, August 7th. The company reported ($0.29) earnings per share for the quarter, topping the consensus estimate of ($0.35) by $0.06. The firm had revenue of $8.97 million for the quarter, compared to the consensus estimate of $11.43 million. 2seventy bio had a negative net margin of 354.16% and a negative return on equity of 66.01%. On average, analysts predict that 2seventy bio will post -1.23 earnings per share for the current year.

Insider Buying and Selling at 2seventy bio

In other news, insider Jessica Snow sold 7,816 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $4.32, for a total transaction of $33,765.12. Following the completion of the transaction, the insider now directly owns 156,330 shares in the company, valued at $675,345.60. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

Hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC increased its stake in 2seventy bio by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the company’s stock worth $48,000 after purchasing an additional 2,500 shares during the period. Price T Rowe Associates Inc. MD increased its stake in 2seventy bio by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock worth $155,000 after buying an additional 2,893 shares during the period. BBR Partners LLC raised its stake in shares of 2seventy bio by 66.7% in the second quarter. BBR Partners LLC now owns 25,000 shares of the company’s stock valued at $96,000 after acquiring an additional 10,000 shares in the last quarter. Bank of New York Mellon Corp boosted its holdings in 2seventy bio by 5.4% in the second quarter. Bank of New York Mellon Corp now owns 196,959 shares of the company’s stock valued at $758,000 after purchasing an additional 10,077 shares during the period. Finally, American Century Companies Inc. increased its holdings in 2seventy bio by 16.6% during the 2nd quarter. American Century Companies Inc. now owns 79,953 shares of the company’s stock worth $308,000 after purchasing an additional 11,363 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.