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

Shares of 2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) 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 - Get Free Report) 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.

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