2seventy bio (NASDAQ:TSVT) Given New $12.00 Price Target at Citigroup

2seventy bio (NASDAQ:TSVT - Get Free Report) had its price objective upped by equities research analysts at Citigroup from $9.00 to $12.00 in a research note issued to investors on Monday, Benzinga reports. The brokerage presently has a "buy" rating on the stock. Citigroup's price objective would indicate a potential upside of 117.79% from the stock's current price.

Other analysts have also issued reports about the company. Leerink Partnrs upgraded 2seventy bio from a "market perform" rating to an "outperform" rating in a research note on Wednesday, January 31st. SVB Leerink upgraded 2seventy bio from a "market perform" rating to an "outperform" rating and boosted their target price for the company from $5.00 to $18.00 in a research note on Wednesday, January 31st. Wedbush restated a "neutral" rating and issued a $5.00 target price on shares of 2seventy bio in a research note on Monday, March 18th. Finally, TD Cowen restated a "market perform" rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average price target of $13.17.

2seventy bio Stock Up 12.0 %

2seventy bio stock traded up $0.59 during mid-day trading on Monday, reaching $5.51. 1,718,694 shares of the company's stock were exchanged, compared to its average volume of 1,482,967. The business's fifty day simple moving average is $5.23 and its 200 day simple moving average is $3.93. The firm has a market capitalization of $282.72 million, a PE ratio of -1.25 and a beta of 1.84. 2seventy bio has a one year low of $1.53 and a one year high of $12.69.

2seventy bio (NASDAQ:TSVT - Get Free Report) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) EPS for the quarter, topping analysts' consensus estimates of ($1.22) by $0.11. The business had revenue of $10.68 million for the quarter, compared to analyst estimates of $13.91 million. 2seventy bio had a negative return on equity of 59.19% and a negative net margin of 216.73%. During the same period last year, the company posted ($0.60) earnings per share. On average, sell-side analysts forecast that 2seventy bio will post -1.36 earnings per share for the current year.

Insider Activity at 2seventy bio

In related news, Director Casdin Capital, Llc acquired 330,000 shares of the firm's stock in a transaction that occurred on Monday, March 25th. The shares were bought at an average cost of $5.07 per share, for a total transaction of $1,673,100.00. Following the purchase, the director now owns 1,960,000 shares in the company, valued at approximately $9,937,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSVT. Metropolitan Life Insurance Co NY purchased a new position in 2seventy bio during the first quarter worth about $25,000. US Bancorp DE grew its position in 2seventy bio by 754.1% during the second quarter. US Bancorp DE now owns 2,528 shares of the company's stock worth $26,000 after buying an additional 2,232 shares in the last quarter. Ameritas Investment Partners Inc. purchased a new position in 2seventy bio during the first quarter worth about $30,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new position in 2seventy bio during the second quarter worth about $33,000. Finally, Diversified Trust Co purchased a new position in 2seventy bio during the third quarter worth about $41,000. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

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.