Weiss Ratings Reiterates "Sell (E+)" Rating for 2seventy bio (NASDAQ:TSVT)

Weiss Ratings restated their sell (e+) rating on shares of 2seventy bio (NASDAQ:TSVT - Free Report) in a report issued on Saturday morning,Weiss Ratings reports.

A number of other research firms have also recently weighed in on TSVT. Leerink Partnrs cut 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. Leerink Partners reaffirmed a "market perform" rating and issued a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Morgan Stanley dropped their price target on shares of 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, two have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus price target of $6.67.

2seventy bio Trading Down 0.1 %

TSVT stock traded down $0.01 during trading on Friday, reaching $4.96. 335,530 shares of the stock were exchanged, compared to its average volume of 606,895. The business has a 50 day moving average price of $3.04 and a 200-day moving average price of $3.70. 2seventy bio has a 1 year low of $2.29 and a 1 year high of $5.99. The firm has a market capitalization of $255.62 million, a price-to-earnings ratio of -2.66 and a beta of 1.73.

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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 stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO William D. Baird III sold 5,092 shares of the company's stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the completion of the transaction, the chief executive officer now owns 1,121,034 shares of the company's stock, valued at $5,549,118.30. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders sold 5,152,093 shares of company stock worth $25,400,018. Company insiders own 7.20% of the company's stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in TSVT. Erste Asset Management GmbH purchased a new position in 2seventy bio during the 3rd quarter worth $25,000. China Universal Asset Management Co. Ltd. purchased a new stake in 2seventy bio during the fourth quarter worth about $32,000. BNP Paribas Financial Markets acquired a new stake in shares of 2seventy bio in the 4th quarter worth approximately $35,000. ProShare Advisors LLC purchased a new position in shares of 2seventy bio in the fourth quarter valued at $48,000. Finally, Raymond James Financial Inc. purchased a new position in 2seventy bio during the 4th quarter valued at about $52,000. Hedge funds and other 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.