2seventy bio, Inc. (NASDAQ:TSVT) Given Consensus Recommendation of “Hold” by Brokerages

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have received a consensus rating of “Hold” from the eight analysts that are currently covering the firm, Marketbeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have assigned a buy recommendation to the company. The average 12-month price objective among brokers that have issued ratings on the stock in the last year is $13.17.

Several equities research analysts have recently weighed in on the company. Citigroup upped their target price on 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Leerink Partnrs raised 2seventy bio from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. SVB Leerink raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating and increased their price objective for the company from $5.00 to $18.00 in a research report on Wednesday, January 31st. Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a research report on Monday, March 18th. Finally, TD Cowen restated a “market perform” rating on shares of 2seventy bio in a research note on Wednesday, January 31st.

2seventy bio Stock Down 0.7 %

TSVT opened at $4.26 on Monday. 2seventy bio has a 52-week low of $1.53 and a 52-week high of $12.69. The company has a 50 day moving average of $5.04 and a two-hundred day moving average of $4.02. The company has a market cap of $218.58 million, a P/E ratio of -0.96 and a beta of 1.84.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.11. 2seventy bio had a negative net margin of 216.73% and a negative return on equity of 59.19%. The firm had revenue of $10.68 million during the quarter, compared to analysts’ expectations of $13.91 million. During the same period in the prior year, the company earned ($0.60) EPS. Research analysts anticipate that 2seventy bio will post -1.39 earnings per share for the current year.

Insider Buying and Selling

In other 2seventy bio news, Director Casdin Capital, Llc bought 330,000 shares of the stock in a transaction on Monday, March 25th. The stock was purchased at an average price of $5.07 per share, for a total transaction of $1,673,100.00. Following the completion of the purchase, the director now directly owns 1,960,000 shares in the company, valued at $9,937,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 2.60% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 2seventy bio

A number of large investors have recently bought and sold shares of TSVT. Kynam Capital Management LP lifted its holdings in shares of 2seventy bio by 21.7% in the 3rd quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock worth $23,339,000 after purchasing an additional 1,063,119 shares during the last quarter. Goldman Sachs Group Inc. boosted its holdings in shares of 2seventy bio by 512.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after acquiring an additional 3,772,556 shares during the period. Newtyn Management LLC grew its position in shares of 2seventy bio by 317.0% during the third quarter. Newtyn Management LLC now owns 3,076,490 shares of the company’s stock worth $12,060,000 after acquiring an additional 2,338,746 shares during the last quarter. Wellington Management Group LLP grew its position in shares of 2seventy bio by 4.0% during the third quarter. Wellington Management Group LLP now owns 2,994,471 shares of the company’s stock worth $11,738,000 after acquiring an additional 114,549 shares during the last quarter. Finally, Madison Avenue Partners LP increased its holdings in shares of 2seventy bio by 17.4% in the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after acquiring an additional 260,663 shares during the period. Institutional investors own 93.90% of the company’s stock.

About 2seventy bio

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 Abecma, a chimeric antigen receptor T-cell product candidates for the treatment of multiple myeloma.