Weiss Ratings Reiterates "Sell (D-)" Rating for 2seventy bio (NASDAQ:TSVT)

Weiss Ratings restated their sell (d-) rating on shares of 2seventy bio (NASDAQ:TSVT - Free Report) in a research report report published on Saturday,Weiss Ratings reports.

A number of other brokerages have also recently weighed in on TSVT. 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 research note on Tuesday, March 11th. Morgan Stanley dropped their target price 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, Leerink Partnrs lowered shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating and four have assigned a hold rating to the company's stock. According to data from MarketBeat.com, 2seventy bio presently has an average rating of "Hold" and a consensus price target of $4.25.

2seventy bio Price Performance

2seventy bio stock remained flat at $5.00 during trading on Friday. The stock has a 50 day moving average of $4.92 and a 200 day moving average of $3.77. 2seventy bio has a 1-year low of $2.29 and a 1-year high of $5.30. The company has a market cap of $266.15 million, a P/E ratio of -2.69 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates of ($0.10) by $0.11. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. The business had revenue of $22.94 million during the quarter, compared to analysts' expectations of $13.96 million. Sell-side analysts anticipate that 2seventy bio will post -1.46 earnings per share for the current year.

Insider Buying and Selling

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the business's 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 transaction, the chief executive officer now directly owns 1,121,034 shares of the company's stock, valued at approximately $5,549,118.30. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction that occurred on Tuesday, March 11th. The stock was 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 quarter, insiders have sold 5,152,093 shares of company stock valued at $25,400,018. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On 2seventy bio

Several institutional investors have recently modified their holdings of the business. Brooklyn Investment Group grew its holdings in 2seventy bio by 42.7% during the first quarter. Brooklyn Investment Group now owns 8,543 shares of the company's stock valued at $42,000 after purchasing an additional 2,557 shares during the period. China Universal Asset Management Co. Ltd. acquired a new position in 2seventy bio during the fourth quarter valued at approximately $32,000. BNP Paribas Financial Markets acquired a new position in shares of 2seventy bio in the fourth quarter valued at approximately $35,000. FORA Capital LLC acquired a new position in shares of 2seventy bio in the first quarter valued at approximately $63,000. Finally, Longfellow Investment Management Co. LLC acquired a new position in shares of 2seventy bio in the first quarter valued at approximately $73,000. Institutional investors and hedge funds own 93.90% of the company's stock.

About 2seventy bio

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.