Analysts Set 2seventy bio, Inc. (NASDAQ:TSVT) Target Price at $9.00

Shares of 2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) have earned a consensus recommendation of "Moderate Buy" from the nine brokerages that are covering the company, MarketBeat reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have given a buy rating and one has issued a strong buy rating on the company. The average 1 year price target among brokerages that have covered the stock in the last year is $9.00.

A number of equities analysts have weighed in on the stock. Morgan Stanley decreased their target price on shares of 2seventy bio from $7.00 to $6.00 and set an "equal weight" rating for the company in a research note on Monday, July 29th. Wedbush reissued a "neutral" rating and set a $5.00 price target on shares of 2seventy bio in a research report on Thursday, June 27th.

2seventy bio Stock Down 0.4 %

Shares of NASDAQ TSVT traded down $0.02 on Monday, reaching $4.97. 101,258 shares of the company's stock traded hands, compared to its average volume of 799,636. 2seventy bio has a 12 month low of $1.53 and a 12 month high of $6.40. The business's 50 day simple moving average is $4.70 and its two-hundred day simple moving average is $4.52. The company has a market cap of $255.96 million, a price-to-earnings ratio of -1.63 and a beta of 1.77.

2seventy bio (NASDAQ:TSVT - Get Free Report) last announced its earnings results on Wednesday, August 7th. The company reported ($0.29) earnings per share for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. 2seventy bio had a negative net margin of 354.16% and a negative return on equity of 66.01%. The business had revenue of $8.97 million during the quarter, compared to the consensus estimate of $11.43 million. Analysts forecast that 2seventy bio will post -1.23 earnings per share for the current fiscal year.

Insider Activity at 2seventy bio

In related news, insider Jessica Snow sold 7,816 shares of the firm's stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $4.32, for a total value of $33,765.12. Following the sale, the insider now owns 156,330 shares in the company, valued at approximately $675,345.60. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On 2seventy bio

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. SkyView Investment Advisors LLC boosted its stake in shares of 2seventy bio by 25.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the company's stock worth $48,000 after acquiring an additional 2,500 shares during the last quarter. Nisa Investment Advisors LLC purchased a new position in shares of 2seventy bio during the 2nd quarter worth $52,000. SG Americas Securities LLC purchased a new position in shares of 2seventy bio during the 3rd quarter worth $80,000. BBR Partners LLC boosted its stake in shares of 2seventy bio by 66.7% during the 2nd quarter. BBR Partners LLC now owns 25,000 shares of the company's stock worth $96,000 after acquiring an additional 10,000 shares during the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of 2seventy bio by 2,637.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 27,370 shares of the company's stock worth $146,000 after acquiring an additional 26,370 shares during the last quarter. 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.