2seventy bio, Inc. (NASDAQ:TSVT) Given Average Recommendation of "Hold" by Analysts

Shares of 2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) have received an average rating of "Hold" from the seven analysts that are covering the company, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, four have issued a hold rating, one has assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year target price among brokers that have covered the stock in the last year is $5.60.

A number of analysts have recently weighed in on TSVT shares. Morgan Stanley reduced their target price on shares of 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Leerink Partnrs cut 2seventy bio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Leerink Partners reaffirmed a "market perform" rating and issued a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 2seventy bio in a report on Saturday, March 22nd.

Insider Activity at 2seventy bio

In related news, CEO William D. Baird III sold 5,092 shares of the business's stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the transaction, the chief executive officer now directly owns 1,121,034 shares of the company's stock, valued at approximately $5,549,118.30. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company's stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is owned by company insiders.

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Institutional Trading of 2seventy bio

A number of institutional investors and hedge funds have recently bought and sold shares of the stock. Erste Asset Management GmbH bought a new stake in 2seventy bio in the 3rd quarter worth approximately $25,000. Northern Trust Corp lifted its position in 2seventy bio by 1.4% during the fourth quarter. Northern Trust Corp now owns 408,083 shares of the company's stock valued at $1,200,000 after purchasing an additional 5,470 shares during the last quarter. Eversept Partners LP grew its stake in shares of 2seventy bio by 0.6% in the 4th quarter. Eversept Partners LP now owns 1,003,678 shares of the company's stock worth $2,951,000 after buying an additional 5,599 shares in the last quarter. American Century Companies Inc. increased its holdings in shares of 2seventy bio by 6.6% in the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company's stock worth $275,000 after buying an additional 5,785 shares during the last quarter. Finally, Intech Investment Management LLC raised its position in shares of 2seventy bio by 41.1% during the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock valued at $61,000 after buying an additional 6,030 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.

2seventy bio Price Performance

TSVT traded up $0.01 on Friday, hitting $4.96. The company had a trading volume of 389,117 shares, compared to its average volume of 603,366. 2seventy bio has a 52-week low of $2.29 and a 52-week high of $5.81. The stock has a fifty day simple moving average of $3.53 and a 200-day simple moving average of $3.73. The firm has a market capitalization of $259.33 million, a P/E ratio of -2.66 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported ($0.31) EPS for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.08). The firm had revenue of $2.93 million during the quarter, compared to analysts' expectations of $12.84 million. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. Equities research analysts expect that 2seventy bio will post -1.46 earnings per share for the current fiscal year.

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