Weiss Ratings Reiterates "Sell (E+)" Rating for 2seventy bio (NASDAQ:TSVT)

2seventy bio (NASDAQ:TSVT - Get Free Report)'s stock had its "sell (e+)" rating restated by analysts at Weiss Ratings in a report issued on Thursday,Weiss Ratings reports.

TSVT has been the subject of several other reports. Morgan Stanley decreased their price objective on shares of 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Leerink Partners reaffirmed a "market perform" rating and set a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Leerink Partnrs downgraded shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. One equities 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's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $5.60.

2seventy bio Stock Performance

Shares of NASDAQ TSVT remained flat at $4.99 during midday trading on Thursday. The stock had a trading volume of 1,199,806 shares, compared to its average volume of 609,227. 2seventy bio has a 12 month low of $2.29 and a 12 month high of $5.30. The company has a market cap of $261.17 million, a PE ratio of -2.68 and a beta of 1.04. The company's 50 day simple moving average is $4.45 and its two-hundred day simple moving average is $3.77.

2seventy bio (NASDAQ:TSVT - Get Free Report) last announced its earnings results on Tuesday, March 25th. The company reported ($0.31) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.08). The company had revenue of $2.93 million for the quarter, compared to the consensus estimate of $12.84 million. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. As a group, research analysts anticipate that 2seventy bio will post -1.46 earnings per share for the current fiscal year.

Insider Transactions at 2seventy bio

In other 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 transaction of $25,205.40. Following the sale, the chief executive officer now directly owns 1,121,034 shares of the company's stock, valued at $5,549,118.30. This represents a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction on 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. Over the last three months, insiders have sold 5,152,093 shares of company stock valued at $25,400,018. Corporate insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On 2seventy bio

A number of hedge funds have recently modified their holdings of TSVT. Rhumbline Advisers raised its position in 2seventy bio by 9.5% in the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock valued at $249,000 after purchasing an additional 7,379 shares during the period. Geode Capital Management LLC raised its holdings in shares of 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 purchasing an additional 13,144 shares in the last quarter. State Street Corp increased its holdings in shares of 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. American Century Companies Inc. lifted its position in shares of 2seventy bio by 6.6% during the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company's stock worth $275,000 after buying an additional 5,785 shares during the last quarter. Finally, Intech Investment Management LLC lifted its position in 2seventy bio by 41.1% in the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock valued at $61,000 after acquiring an additional 6,030 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.