2seventy bio, Inc. (NASDAQ:TSVT) Receives $13.33 Consensus Target Price from Analysts

Shares of 2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) have received an average recommendation of "Hold" from the eight research firms that are currently covering the stock, MarketBeat Ratings reports. Five investment analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average twelve-month target price among brokers that have issued ratings on the stock in the last year is $13.33.

Several analysts have recently weighed in on TSVT shares. TD Cowen reissued a "market perform" rating on shares of 2seventy bio in a research note on Wednesday, January 31st. SVB Leerink raised shares of 2seventy bio from a "market perform" rating to an "outperform" rating and increased their target price for the company from $5.00 to $18.00 in a research report on Wednesday, January 31st. Leerink Partnrs raised shares of 2seventy bio from a "market perform" rating to an "outperform" rating in a research report on Wednesday, January 31st. Finally, Wedbush reaffirmed a "neutral" rating and issued a $5.00 target price on shares of 2seventy bio in a research report on Monday, March 18th.

Insider Activity at 2seventy bio

In related news, Director Casdin Capital, Llc acquired 300,000 shares of 2seventy bio stock in a transaction that occurred on Thursday, March 21st. The stock was purchased at an average price of $4.90 per share, for a total transaction of $1,470,000.00. Following the completion of the purchase, the director now directly owns 1,482,623 shares of the company's stock, valued at $7,264,852.70. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders sold 3,729 shares of company stock worth $13,984 over the last 90 days. Company insiders own 2.60% of the company's stock.

Institutional Investors Weigh In On 2seventy bio

A number of institutional investors have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in 2seventy bio by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 3,985,770 shares of the company's stock worth $17,019,000 after buying an additional 251,893 shares during the period. Goldman Sachs Group Inc. grew its stake in 2seventy bio by 512.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company's stock worth $19,253,000 after buying an additional 3,772,556 shares during the period. Madison Avenue Partners LP grew its stake in 2seventy bio by 17.4% during the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company's stock worth $7,493,000 after buying an additional 260,663 shares during the period. Barclays PLC grew its stake in 2seventy bio by 93.8% during the fourth quarter. Barclays PLC now owns 83,552 shares of the company's stock worth $356,000 after buying an additional 40,434 shares during the period. Finally, Voya Investment Management LLC grew its stake in 2seventy bio by 22.9% during the fourth quarter. Voya Investment Management LLC now owns 61,413 shares of the company's stock worth $262,000 after buying an additional 11,439 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

2seventy bio Price Performance

Shares of NASDAQ:TSVT traded up $0.03 during trading on Thursday, reaching $5.01. 482,644 shares of the company were exchanged, compared to its average volume of 1,434,587. The firm has a market capitalization of $257.07 million, a PE ratio of -1.13 and a beta of 1.84. 2seventy bio has a 12-month low of $1.53 and a 12-month high of $12.69. The business's fifty day simple moving average is $5.13 and its 200-day simple moving average is $3.89.

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

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.