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

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

A number of other brokerages have also recently issued reports on TSVT. Leerink Partners reissued a "market perform" rating and issued a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Leerink Partnrs cut 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. Finally, Morgan Stanley lowered their price target on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average price target of $4.25.

2seventy bio Stock Performance

TSVT traded up $0.01 on Friday, reaching $5.00. 1,158,100 shares of the company's stock were exchanged, compared to its average volume of 624,330. 2seventy bio has a twelve month low of $2.29 and a twelve month high of $5.30. The company's 50 day moving average is $4.88 and its 200-day moving average is $3.76. The company has a market cap of $266.15 million, a price-to-earnings ratio of -2.69 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT - Get Free Report) last released its quarterly earnings results 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 return on equity of 53.65% and a negative net margin of 207.25%. The firm had revenue of $22.94 million during the quarter, compared to analysts' expectations of $13.96 million. Sell-side analysts forecast that 2seventy bio will post -1.46 EPS for the current year.

Insider Transactions at 2seventy bio

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company's 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO William D. Baird III sold 5,092 shares of the firm's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the completion of the transaction, the chief executive officer now owns 1,121,034 shares in the company, valued at $5,549,118.30. The trade was a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. Northern Trust Corp boosted its position in shares of 2seventy bio by 1.4% in the fourth quarter. Northern Trust Corp now owns 408,083 shares of the company's stock valued at $1,200,000 after acquiring an additional 5,470 shares during the period. Eversept Partners LP increased its holdings in 2seventy bio by 0.6% during the 4th quarter. Eversept Partners LP now owns 1,003,678 shares of the company's stock valued at $2,951,000 after purchasing an additional 5,599 shares in the last quarter. American Century Companies Inc. raised its position in 2seventy bio by 6.6% in the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company's stock valued at $275,000 after purchasing an additional 5,785 shares during the last quarter. Intech Investment Management LLC boosted its stake in 2seventy bio by 41.1% in the fourth 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. Finally, Wells Fargo & Company MN increased its stake in shares of 2seventy bio by 23.2% in the fourth quarter. Wells Fargo & Company MN now owns 32,532 shares of the company's stock valued at $96,000 after buying an additional 6,133 shares in the last quarter. 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.