2seventy bio, Inc. (NASDAQ:TSVT) Receives Average Recommendation of "Hold" from Brokerages

Shares of 2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) have earned an average rating of "Hold" from the seven analysts that are currently 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 assigned a buy rating and one has assigned a strong buy rating to the company. The average 1-year price target among brokerages that have issued a report on the stock in the last year is $5.60.

TSVT has been the subject of a number of recent research reports. Leerink Partners restated a "market perform" rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Weiss Ratings reissued a "sell (e+)" rating on shares of 2seventy bio in a research note on Thursday, April 24th. Morgan Stanley cut their price objective on 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. Finally, Leerink Partnrs downgraded shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 11th.

2seventy bio Stock Up 0.4 %

2seventy bio stock traded up $0.02 during trading hours on Tuesday, hitting $5.00. The stock had a trading volume of 1,195,010 shares, compared to its average volume of 612,060. The business's 50 day simple moving average is $4.55 and its 200-day simple moving average is $3.75. 2seventy bio has a one year low of $2.29 and a one year high of $5.30. The stock has a market cap of $261.69 million, a price-to-earnings ratio of -2.69 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT - Get Free Report) last issued its quarterly earnings data 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 net margin of 207.25% and a negative return on equity of 53.65%. The business had revenue of $2.93 million during the quarter, compared to the consensus estimate of $12.84 million. Research analysts anticipate that 2seventy bio will post -1.46 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William D. Baird III sold 5,092 shares of the company's 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 directly owns 1,121,034 shares of the company's stock, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm's stock in a transaction that occurred on 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. Over the last three months, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 2seventy bio

A number of large investors have recently modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new position in 2seventy bio during the fourth quarter worth $32,000. BNP Paribas Financial Markets acquired a new stake in shares of 2seventy bio in the 4th quarter worth about $35,000. ProShare Advisors LLC bought a new position in 2seventy bio in the 4th quarter valued at about $48,000. Raymond James Financial Inc. acquired a new position in 2seventy bio during the 4th quarter valued at about $52,000. Finally, Intech Investment Management LLC increased its holdings in 2seventy bio by 41.1% during the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock worth $61,000 after purchasing an additional 6,030 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.

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.