2seventy bio (NASDAQ:TSVT) Rating Lowered to "Hold" at Leerink Partnrs

Leerink Partnrs lowered shares of 2seventy bio (NASDAQ:TSVT - Free Report) from a strong-buy rating to a hold rating in a report released on Tuesday,Zacks.com reports.

A number of other equities research analysts have also recently weighed in on the company. Weiss Ratings reiterated a "sell (d-)" rating on shares of 2seventy bio in a research note on Friday, March 7th. Leerink Partners reiterated 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. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, 2seventy bio presently has an average rating of "Hold" and an average price target of $6.67.

2seventy bio Stock Performance

Shares of 2seventy bio stock remained flat at $4.95 on Tuesday. The stock had a trading volume of 1,706,623 shares, compared to its average volume of 645,454. The firm has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio has a fifty-two week low of $2.29 and a fifty-two week high of $5.99. The business has a 50-day moving average price of $2.76 and a 200 day moving average price of $3.69.

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Insider Activity at 2seventy bio

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm's stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 7.20% of the stock is currently owned by insiders.

Institutional Trading of 2seventy bio

Hedge funds have recently modified their holdings of the business. GSA Capital Partners LLP purchased a new position in shares of 2seventy bio in the 3rd quarter valued at about $64,000. Intech Investment Management LLC purchased a new position in 2seventy bio in the third quarter valued at about $69,000. FMR LLC lifted its position in shares of 2seventy bio by 22.0% during the 3rd quarter. FMR LLC now owns 148,545 shares of the company's stock valued at $701,000 after acquiring an additional 26,738 shares during the period. BBR Partners LLC boosted its stake in shares of 2seventy bio by 620.0% during the 3rd quarter. BBR Partners LLC now owns 180,000 shares of the company's stock worth $850,000 after acquiring an additional 155,000 shares in the last quarter. Finally, PDT Partners LLC acquired a new stake in shares of 2seventy bio in the 3rd quarter worth approximately $244,000. 93.90% of the stock is owned by institutional investors and hedge funds.

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.