2seventy bio (NASDAQ:TSVT) Downgraded to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of 2seventy bio (NASDAQ:TSVTFree Report) from a neutral rating to a sell rating in a research note issued to investors on Thursday morning, Marketbeat Ratings reports. They currently have $2.00 target price on the stock, down from their prior target price of $5.00.

Several other analysts also recently issued reports on the company. Canaccord Genuity Group raised 2seventy bio to a strong-buy rating in a research note on Thursday, May 9th. Canaccord Genuity Group dropped their price target on 2seventy bio from $12.00 to $11.00 and set a buy rating on the stock in a research note on Thursday, May 9th. Citigroup lifted their price target on 2seventy bio from $9.00 to $12.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, Wedbush reissued a neutral rating and issued a $5.00 price target on shares of 2seventy bio in a research note on Monday, March 18th. One research analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the company has a consensus rating of Moderate Buy and a consensus price target of $12.43.

Read Our Latest Research Report on TSVT

2seventy bio Trading Down 9.4 %

TSVT stock opened at $4.13 on Thursday. The business’s 50-day moving average price is $4.71 and its two-hundred day moving average price is $4.33. The firm has a market cap of $212.28 million, a PE ratio of -0.95 and a beta of 1.80. 2seventy bio has a 1-year low of $1.53 and a 1-year high of $12.69.

2seventy bio (NASDAQ:TSVTGet Free Report) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.09). 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. The firm had revenue of $12.44 million during the quarter, compared to analyst estimates of $11.93 million. On average, analysts forecast that 2seventy bio will post -0.93 earnings per share for the current year.

Insider Activity at 2seventy bio

In other 2seventy bio news, Director Casdin Capital, Llc purchased 330,000 shares of the stock in a transaction on Monday, March 25th. The shares were purchased at an average price of $5.07 per share, with a total value of $1,673,100.00. Following the completion of the transaction, the director now directly owns 1,960,000 shares in the company, valued at $9,937,200. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. Over the last quarter, insiders have sold 1,831 shares of company stock valued at $7,665. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On 2seventy bio

A number of institutional investors have recently bought and sold shares of TSVT. Goldman Sachs Group Inc. increased its position in 2seventy bio by 512.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock worth $19,253,000 after buying an additional 3,772,556 shares during the last quarter. Newtyn Management LLC increased its position in 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 buying an additional 2,338,746 shares during the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in 2seventy bio during the first quarter worth approximately $9,291,000. Engine Capital Management LP increased its position in 2seventy bio by 337.1% during the fourth quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock worth $6,381,000 after buying an additional 1,152,434 shares during the last quarter. Finally, Kynam Capital Management LP boosted its holdings in shares of 2seventy bio by 21.7% during the third quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock worth $23,339,000 after acquiring an additional 1,063,119 shares during the period. Institutional investors and hedge funds own 93.90% of the company’s stock.

2seventy bio Company Profile

(Get Free Report)

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.

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