2seventy bio, Inc. (NASDAQ:TSVT) Receives Average Rating of “Hold” from Brokerages

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have received an average recommendation of “Hold” from the seven brokerages that are presently covering the company, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and two have assigned a buy recommendation to the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $14.17.

Several analysts have recently weighed in on the stock. Citigroup assumed coverage on shares of 2seventy bio in a research note on Thursday, October 12th. They issued a “buy” rating and a $13.00 price objective for the company. Leerink Partnrs lowered shares of 2seventy bio from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. The Goldman Sachs Group lowered shares of 2seventy bio from a “buy” rating to a “neutral” rating and set a $5.00 price target for the company. in a research note on Wednesday, September 13th. Wedbush decreased their price target on shares of 2seventy bio from $26.00 to $22.00 and set an “outperform” rating for the company in a research note on Friday, July 28th. Finally, Morgan Stanley lowered shares of 2seventy bio from an “overweight” rating to an “equal weight” rating and decreased their price target for the company from $25.00 to $13.00 in a research note on Friday, July 28th.

2seventy bio Stock Up 7.8 %

NASDAQ:TSVT opened at $2.50 on Monday. The company has a fifty day moving average of $3.91 and a 200-day moving average of $7.62. The firm has a market capitalization of $126.16 million, a P/E ratio of -0.59 and a beta of 1.49. 2seventy bio has a twelve month low of $1.86 and a twelve month high of $17.56.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings data on Monday, August 14th. The company reported ($0.83) earnings per share for the quarter, beating the consensus estimate of ($1.04) by $0.21. The company had revenue of $36.05 million during the quarter, compared to analyst estimates of $31.81 million. 2seventy bio had a negative net margin of 122.33% and a negative return on equity of 51.38%. On average, analysts anticipate that 2seventy bio will post -4.4 EPS for the current fiscal year.

Insider Transactions at 2seventy bio

In other news, CFO William D. Baird III sold 7,031 shares of the company’s stock in a transaction on Tuesday, August 22nd. The shares were sold at an average price of $5.49, for a total value of $38,600.19. Following the completion of the sale, the chief financial officer now owns 196,366 shares in the company, valued at approximately $1,078,049.34. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, major shareholder Kynam Capital Management, Lp purchased 86,414 shares of the business’s stock in a transaction that occurred on Thursday, August 10th. The shares were bought at an average cost of $5.96 per share, with a total value of $515,027.44. Following the acquisition, the insider now owns 5,142,111 shares of the company’s stock, valued at $30,646,981.56. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CFO William D. Baird III sold 7,031 shares of the business’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $5.49, for a total transaction of $38,600.19. Following the completion of the transaction, the chief financial officer now directly owns 196,366 shares in the company, valued at $1,078,049.34. The disclosure for this sale can be found here. Insiders sold a total of 22,502 shares of company stock worth $123,536 in the last quarter. 2.60% of the stock is currently owned by corporate insiders.

Hedge Funds Weigh In On 2seventy bio

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Panagora Asset Management Inc. purchased a new stake in 2seventy bio during the third quarter valued at about $852,000. Mirae Asset Global Investments Co. Ltd. lifted its holdings in 2seventy bio by 11.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 247,874 shares of the company’s stock valued at $972,000 after purchasing an additional 26,384 shares during the last quarter. Brighton Jones LLC purchased a new stake in 2seventy bio during the third quarter valued at about $60,000. Exchange Traded Concepts LLC lifted its holdings in 2seventy bio by 114.7% during the third quarter. Exchange Traded Concepts LLC now owns 25,838 shares of the company’s stock valued at $101,000 after purchasing an additional 13,802 shares during the last quarter. Finally, SG Americas Securities LLC purchased a new stake in 2seventy bio during the third quarter valued at about $89,000. 98.49% of the stock is owned by hedge funds and other institutional investors.

2seventy bio Company Profile

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 idecabtagene vicleucel; ide-cel or Abecma and bb21217; and chimeric antigen receptor-T cell product candidates for the treatment of multiple myeloma.