2seventy bio's (TSVT) "Sell (E+)" Rating Reiterated at Weiss Ratings

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

A number of other brokerages also recently issued reports on TSVT. Leerink Partnrs downgraded 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Morgan Stanley lowered their price target 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. Finally, Leerink Partners reiterated a "market perform" rating and set a $5.00 price objective (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 assigned a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, 2seventy bio has a consensus rating of "Hold" and a consensus price target of $6.67.

2seventy bio Trading Down 0.2 %

Shares of NASDAQ:TSVT traded down $0.01 during mid-day trading on Friday, reaching $4.95. The stock had a trading volume of 845,359 shares, compared to its average volume of 600,293. The business's 50 day moving average price is $3.09 and its 200 day moving average price is $3.71. 2seventy bio has a 1 year low of $2.29 and a 1 year high of $5.99. The company has a market cap of $255.36 million, a P/E ratio of -2.66 and a beta of 1.73.

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2seventy bio (NASDAQ:TSVT - Get Free Report) last posted 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 for the quarter, compared to the consensus estimate of $12.84 million. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. Analysts predict that 2seventy bio will post -1.46 earnings per share for the current fiscal year.

Insiders Place Their Bets

In related news, CEO William D. Baird III sold 5,092 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company'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. Insiders have sold a total of 5,152,093 shares of company stock worth $25,400,018 in the last three months. Corporate insiders own 7.20% of the company's stock.

Institutional Investors Weigh In On 2seventy bio

Several institutional investors and hedge funds have recently made changes to their positions in TSVT. BBR Partners LLC increased its stake in shares of 2seventy bio by 620.0% in the third quarter. BBR Partners LLC now owns 180,000 shares of the company's stock worth $850,000 after acquiring an additional 155,000 shares during the period. Rhumbline Advisers increased its holdings in 2seventy bio by 9.5% in the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock valued at $249,000 after buying an additional 7,379 shares in the last quarter. Geode Capital Management LLC boosted its stake in shares of 2seventy bio by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company's stock worth $5,553,000 after acquiring an additional 13,144 shares in the last quarter. GSA Capital Partners LLP purchased a new position in shares of 2seventy bio in the 3rd quarter valued at about $64,000. Finally, FMR LLC raised its stake in shares of 2seventy bio by 22.0% during the 3rd quarter. FMR LLC now owns 148,545 shares of the company's stock worth $701,000 after buying an additional 26,738 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.