2seventy bio (NASDAQ:TSVT) Given New $28.00 Price Target at Morgan Stanley

2seventy bio (NASDAQ:TSVTGet Rating) had its price objective cut by Morgan Stanley from $29.00 to $28.00 in a report published on Tuesday morning, Benzinga reports. They currently have an overweight rating on the stock.

A number of other brokerages have also recently weighed in on TSVT. SVB Leerink dropped their price objective on shares of 2seventy bio from $41.00 to $34.00 and set an outperform rating for the company in a report on Tuesday, January 10th. Guggenheim assumed coverage on shares of 2seventy bio in a report on Monday, October 31st. They issued a buy rating and a $30.00 price objective for the company. Finally, The Goldman Sachs Group lifted their price objective on shares of 2seventy bio from $25.00 to $28.00 and gave the company a buy rating in a report on Friday, January 20th.

2seventy bio Stock Performance

2seventy bio stock opened at $12.21 on Tuesday. The company’s 50 day simple moving average is $12.02 and its 200-day simple moving average is $13.96. The company has a market capitalization of $462.97 million, a price-to-earnings ratio of -1.28 and a beta of 1.32. 2seventy bio has a 1 year low of $8.44 and a 1 year high of $20.89.

2seventy bio (NASDAQ:TSVTGet Rating) last announced its quarterly earnings data on Monday, November 7th. The company reported ($1.76) earnings per share for the quarter, missing analysts’ consensus estimates of ($1.74) by ($0.02). The business had revenue of $13.41 million during the quarter, compared to analyst estimates of $10.67 million. 2seventy bio had a negative net margin of 568.59% and a negative return on equity of 77.38%. Equities analysts expect that 2seventy bio will post -8.76 earnings per share for the current year.

Insiders Place Their Bets

In other 2seventy bio news, CEO Nick Leschly sold 6,587 shares of the business’s stock in a transaction that occurred on Thursday, January 12th. The shares were sold at an average price of $10.46, for a total transaction of $68,900.02. Following the completion of the transaction, the chief executive officer now owns 536,419 shares in the company, valued at approximately $5,610,942.74. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, insider Philip D. Gregory sold 3,794 shares of the business’s stock in a transaction that occurred on Monday, January 9th. The shares were sold at an average price of $10.33, for a total transaction of $39,192.02. Following the completion of the sale, the insider now owns 100,594 shares in the company, valued at approximately $1,039,136.02. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nick Leschly sold 6,587 shares of the business’s stock in a transaction that occurred on Thursday, January 12th. The stock was sold at an average price of $10.46, for a total transaction of $68,900.02. Following the sale, the chief executive officer now owns 536,419 shares of the company’s stock, valued at approximately $5,610,942.74. The disclosure for this sale can be found here. Insiders sold 27,416 shares of company stock worth $314,152 in the last 90 days. Corporate insiders own 2.50% of the company’s stock.

Institutional Trading of 2seventy bio

Several institutional investors have recently modified their holdings of the stock. Hennion & Walsh Asset Management Inc. lifted its position in shares of 2seventy bio by 11.1% during the 4th quarter. Hennion & Walsh Asset Management Inc. now owns 34,398 shares of the company’s stock worth $322,000 after buying an additional 3,427 shares during the last quarter. Bank of New York Mellon Corp raised its position in 2seventy bio by 7.4% in the 3rd quarter. Bank of New York Mellon Corp now owns 137,038 shares of the company’s stock valued at $1,994,000 after purchasing an additional 9,457 shares during the last quarter. BNP Paribas Arbitrage SNC purchased a new stake in 2seventy bio in the 3rd quarter valued at $776,000. Alliancebernstein L.P. raised its position in 2seventy bio by 12.7% in the 3rd quarter. Alliancebernstein L.P. now owns 35,441 shares of the company’s stock valued at $516,000 after purchasing an additional 4,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio purchased a new stake in 2seventy bio in the 3rd quarter valued at $632,000. Hedge funds and other institutional investors own 89.47% of the company’s stock.

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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