2seventy bio (NASDAQ:TSVT) Price Target Cut to $31.00 by Analysts at Morgan Stanley

2seventy bio (NASDAQ:TSVT – Get Rating) had its target price decreased by stock analysts at Morgan Stanley to $31.00 in a research note issued on Tuesday, Stock Target Advisor reports. The firm currently has an “overweight” rating on the stock. Morgan Stanley’s target price would suggest a potential upside of 143.71% from the stock’s previous close.

A number of other analysts have also issued reports on TSVT. The Goldman Sachs Group started coverage on shares of 2seventy bio in a research note on Monday, May 2nd. They set a “buy” rating and a $26.00 price objective on the stock. Zacks Investment Research upgraded shares of 2seventy bio from a “hold” rating to a “buy” rating and set a $20.00 price objective on the stock in a research note on Saturday, March 26th. Finally, SVB Leerink began coverage on shares of 2seventy bio in a research report on Thursday, February 10th. They set an “outperform” rating and a $38.00 price target for the company. Seven equities research analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, 2seventy bio has a consensus rating of “Buy” and a consensus price target of $32.83.

NASDAQ TSVT traded up $0.75 during mid-day trading on Tuesday, hitting $12.72. The company’s stock had a trading volume of 2,803 shares, compared to its average volume of 458,543. 2seventy bio has a 52-week low of $10.57 and a 52-week high of $64.00. The company has a fifty day moving average price of $15.19.

2seventy bio (NASDAQ:TSVT – Get Rating) last posted its quarterly earnings results on Thursday, May 12th. The company reported ($3.20) EPS for the quarter, missing the consensus estimate of ($1.73) by ($1.47). The company had revenue of $8.43 million for the quarter, compared to analysts’ expectations of $22.66 million. During the same quarter last year, the firm earned ($3.73) EPS. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. As a group, sell-side analysts anticipate that 2seventy bio will post -5.4 earnings per share for the current fiscal year.

Several institutional investors and hedge funds have recently made changes to their positions in TSVT. Metropolitan Life Insurance Co NY bought a new stake in shares of 2seventy bio during the first quarter valued at about $25,000. Ameritas Investment Partners Inc. bought a new stake in shares of 2seventy bio during the first quarter valued at about $30,000. Group One Trading L.P. bought a new stake in shares of 2seventy bio during the first quarter valued at about $69,000. Ensign Peak Advisors Inc bought a new stake in shares of 2seventy bio during the first quarter valued at about $123,000. Finally, Captrust Financial Advisors bought a new stake in shares of 2seventy bio during the first quarter valued at about $169,000. 50.43% of the stock is owned by institutional investors.

2seventy bio Company Profile (Get Rating)

2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. Its products pipeline includes idecabtagene vicleucel; ide-cel or Abecma and bb21217; and CAR-T cell product candidates for the treatment of multiple myeloma.

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