2seventy bio (NASDAQ:TSVT) Given "Sell (E+)" Rating at Weiss Ratings

2seventy bio (NASDAQ:TSVT - Get Free Report)'s stock had its "sell (e+)" rating reissued by stock analysts at Weiss Ratings in a report issued on Thursday,Weiss Ratings reports.

A number of other brokerages also recently commented on TSVT. Leerink Partnrs downgraded shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Leerink Partners reissued a "market perform" rating and issued a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Finally, Morgan Stanley decreased their target price on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, one has given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $5.60.

2seventy bio Stock Up 0.2 %

TSVT traded up $0.01 during trading on Thursday, reaching $4.99. The company had a trading volume of 287,064 shares, compared to its average volume of 608,225. The business has a 50 day simple moving average of $4.31 and a 200-day simple moving average of $3.75. The stock has a market cap of $261.17 million, a P/E ratio of -2.68 and a beta of 1.04. 2seventy bio has a 52 week low of $2.29 and a 52 week high of $5.30.

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). 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. The business had revenue of $2.93 million for the quarter, compared to the consensus estimate of $12.84 million. As a group, equities research analysts expect that 2seventy bio will post -1.46 EPS for the current fiscal year.

Insider Activity

In other news, CEO William D. Baird III sold 5,092 shares of the firm's stock in a transaction 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 completion of the sale, the chief executive officer now owns 1,121,034 shares of the company's stock, valued at $5,549,118.30. This trade represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business's stock in a transaction 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 have sold 5,152,093 shares of company stock worth $25,400,018. Corporate insiders own 7.20% of the company's stock.

Hedge Funds Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently modified their holdings of TSVT. China Universal Asset Management Co. Ltd. acquired a new stake in shares of 2seventy bio during the fourth quarter worth $32,000. BNP Paribas Financial Markets acquired a new stake in 2seventy bio during the 4th quarter worth about $35,000. ProShare Advisors LLC purchased a new stake in 2seventy bio during the 4th quarter valued at about $48,000. Raymond James Financial Inc. acquired a new position in shares of 2seventy bio in the fourth quarter valued at about $52,000. Finally, Intech Investment Management LLC raised its stake in shares of 2seventy bio by 41.1% in the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock worth $61,000 after purchasing an additional 6,030 shares during the last quarter. 93.90% of the stock is owned by hedge funds and other institutional investors.

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.