2seventy bio (NASDAQ:TSVT - Free Report) had its target price trimmed by Morgan Stanley from $6.00 to $5.00 in a research note published on Friday, MarketBeat reports. The firm currently has an equal weight rating on the stock.
A number of other analysts have also recently weighed in on TSVT. Leerink Partnrs cut 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 2seventy bio in a research report on Friday, March 7th. Finally, Leerink Partners reiterated a "market perform" rating and set a $5.00 price target (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $6.67.
Check Out Our Latest Report on 2seventy bio
2seventy bio Trading Up 0.2 %
NASDAQ TSVT traded up $0.01 on Friday, hitting $4.96. 738,732 shares of the stock traded hands, compared to its average volume of 645,825. The stock has a 50-day moving average of $2.85 and a 200 day moving average of $3.69. 2seventy bio has a twelve month low of $2.29 and a twelve month high of $5.99. The company has a market capitalization of $255.88 million, a P/E ratio of -2.67 and a beta of 1.73.
Insider Buying and Selling
In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company's stock.
Hedge Funds Weigh In On 2seventy bio
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSVT. Erste Asset Management GmbH bought a new position in 2seventy bio during the 3rd quarter valued at $25,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of 2seventy bio during the 4th quarter worth $32,000. BNP Paribas Financial Markets bought a new stake in shares of 2seventy bio during the 4th quarter worth $35,000. ProShare Advisors LLC bought a new stake in shares of 2seventy bio during the 4th quarter worth $48,000. Finally, Raymond James Financial Inc. bought a new stake in shares of 2seventy bio during the 4th quarter worth $52,000. 93.90% of the stock is owned by institutional investors.
2seventy bio Company Profile
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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.
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