2seventy bio (NASDAQ:TSVT) Lowered to “Hold” at Zacks Investment Research

2seventy bio (NASDAQ:TSVTGet Rating) was downgraded by Zacks Investment Research from a “buy” rating to a “hold” rating in a research report issued on Wednesday, Zacks.com reports.

According to Zacks, “2seventy bio Inc. is a cell and gene therapy company. It focuses on the research, development, and commercialization of treatments for cancer. 2seventy bio Inc. is based in Cambridge, Massachusetts. “

A number of other equities research analysts have also recently commented on TSVT. SVB Leerink assumed coverage on 2seventy bio in a research report on Thursday, February 10th. They set an “outperform” rating and a $38.00 target price on the stock. The Goldman Sachs Group initiated coverage on 2seventy bio in a research report on Monday, May 2nd. They set a “buy” rating and a $26.00 target price on the stock. Finally, Morgan Stanley lowered their price objective on 2seventy bio to $31.00 and set an “overweight” rating on the stock in a report on Tuesday, May 17th. One investment analyst has rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Buy” and a consensus price target of $32.83.

NASDAQ TSVT opened at $12.06 on Wednesday. The stock has a 50-day simple moving average of $15.14 and a two-hundred day simple moving average of $20.31. 2seventy bio has a fifty-two week low of $10.57 and a fifty-two week high of $64.00.

2seventy bio (NASDAQ:TSVTGet Rating) last posted its earnings results on Thursday, May 12th. The company reported ($3.20) EPS for the quarter, missing analysts’ consensus estimates of ($1.73) by ($1.47). The firm had revenue of $8.43 million during the quarter, compared to analysts’ expectations of $22.66 million. During the same quarter in the previous year, the business earned ($3.73) EPS. The firm’s revenue for the quarter was down 29.2% on a year-over-year basis. Analysts forecast that 2seventy bio will post -8.9 EPS for the current year.

Institutional investors have recently modified their holdings of the company. Metropolitan Life Insurance Co NY acquired a new position in shares of 2seventy bio during the 1st quarter worth approximately $25,000. Ameritas Investment Partners Inc. purchased a new stake in shares of 2seventy bio during the 1st quarter valued at approximately $30,000. Group One Trading L.P. purchased a new stake in shares of 2seventy bio during the 1st quarter valued at approximately $69,000. Royal Bank of Canada purchased a new stake in shares of 2seventy bio during the 1st quarter valued at approximately $84,000. Finally, International Biotechnology Trust PLC purchased a new stake in shares of 2seventy bio during the 1st quarter valued at approximately $94,000. Institutional investors and hedge funds own 50.43% of the company’s stock.

About 2seventy bio (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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