2seventy bio (NASDAQ:TSVT) Rating Reiterated by Wedbush

2seventy bio (NASDAQ:TSVT)‘s stock had its “outperform” rating restated by Wedbush in a research note issued on Tuesday, RTT News reports. They presently have a $4.00 price target on the stock, down from their previous price target of $7.00. Wedbush’s price objective suggests a potential upside of 71.67% from the stock’s previous close.

TSVT has been the subject of a number of other reports. The Goldman Sachs Group downgraded 2seventy bio from a “buy” rating to a “neutral” rating and set a $5.00 price objective for the company. in a report on Wednesday, September 13th. Leerink Partnrs downgraded 2seventy bio from an “outperform” rating to a “market perform” rating in a report on Monday, October 30th. Guggenheim downgraded 2seventy bio from a “buy” rating to a “neutral” rating in a report on Tuesday, September 12th. Citigroup started coverage on 2seventy bio in a report on Thursday, October 12th. They set a “buy” rating and a $13.00 price target for the company. Finally, Morgan Stanley downgraded 2seventy bio from an “overweight” rating to an “equal weight” rating and decreased their price target for the stock from $25.00 to $13.00 in a report on Friday, July 28th. Five analysts have rated the stock with a hold rating and two have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $11.17.

2seventy bio Stock Up 2.2 %

NASDAQ TSVT opened at $2.33 on Tuesday. The company has a market capitalization of $117.58 million, a price-to-earnings ratio of -0.55 and a beta of 1.49. 2seventy bio has a twelve month low of $1.86 and a twelve month high of $17.04. The stock has a fifty day simple moving average of $3.50 and a 200 day simple moving average of $7.31.

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

Insider Buying and Selling at 2seventy bio

In other news, CFO William D. Baird III sold 7,031 shares of 2seventy bio stock in a transaction dated Tuesday, August 22nd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. In other news, CFO William D. Baird III sold 7,031 shares of 2seventy bio stock in a transaction dated Tuesday, August 22nd. The shares were 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 sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Nick Leschly sold 9,312 shares of 2seventy bio stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $5.49, for a total transaction of $51,122.88. Following the transaction, the chief executive officer now owns 1,159,342 shares of the company’s stock, valued at $6,364,787.58. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 22,502 shares of company stock valued at $123,536. Corporate insiders own 2.60% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Captrust Financial Advisors raised its position in 2seventy bio by 6.9% in the second quarter. Captrust Financial Advisors now owns 10,616 shares of the company’s stock worth $140,000 after acquiring an additional 684 shares during the period. Royal Bank of Canada raised its position in 2seventy bio by 25.9% in the third quarter. Royal Bank of Canada now owns 4,430 shares of the company’s stock worth $66,000 after acquiring an additional 910 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. raised its position in 2seventy bio by 7.7% in the first quarter. Mitsubishi UFJ Kokusai Asset Management Co. Ltd. now owns 17,259 shares of the company’s stock worth $176,000 after acquiring an additional 1,230 shares during the period. Principal Financial Group Inc. raised its position in 2seventy bio by 12.7% in the first quarter. Principal Financial Group Inc. now owns 12,292 shares of the company’s stock worth $125,000 after acquiring an additional 1,389 shares during the period. Finally, Metropolitan Life Insurance Co NY bought a new stake in 2seventy bio in the first quarter worth about $25,000. 98.49% of the stock is currently 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.