2seventy bio (NASDAQ:TSVT - Get Free Report)'s stock had its "sell (d-)" rating restated by Weiss Ratings in a report released on Tuesday,Weiss Ratings reports.
A number of other research firms have also issued reports on TSVT. Leerink Partners reaffirmed a "market perform" rating and set a $5.00 target price (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Morgan Stanley lowered their price objective on shares of 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Finally, Leerink Partnrs lowered shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have given a hold rating, one has assigned a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus target price of $5.60.
Read Our Latest Stock Analysis on 2seventy bio
2seventy bio Stock Performance
Shares of TSVT stock remained flat at $4.96 during midday trading on Tuesday. 752,754 shares of the company's stock were exchanged, compared to its average volume of 620,705. The business has a 50 day simple moving average of $3.81 and a 200 day simple moving average of $3.74. The stock has a market capitalization of $259.60 million, a P/E ratio of -2.67 and a beta of 1.04. 2seventy bio has a one year low of $2.29 and a one year 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) earnings per share for the quarter, missing analysts' consensus estimates of ($0.23) by ($0.08). 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The firm had revenue of $2.93 million during the quarter, compared to analyst estimates of $12.84 million. Equities research analysts predict that 2seventy bio will post -1.46 EPS for the current year.
Insider Transactions at 2seventy bio
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 ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at 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 shares were 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 valued at $25,400,018 over the last ninety days. Corporate insiders own 7.20% of the company's stock.
Institutional Investors Weigh In On 2seventy bio
A number of institutional investors have recently modified their holdings of TSVT. China Universal Asset Management Co. Ltd. purchased a new stake in shares of 2seventy bio during the fourth quarter worth $32,000. BNP Paribas Financial Markets acquired a new stake in shares of 2seventy bio during the 4th quarter valued at about $35,000. ProShare Advisors LLC bought a new stake in shares of 2seventy bio in the 4th quarter valued at approximately $48,000. Raymond James Financial Inc. acquired a new position in 2seventy bio in the fourth quarter worth approximately $52,000. Finally, Intech Investment Management LLC increased its holdings in 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 buying an additional 6,030 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.
About 2seventy bio
(
Get Free Report)
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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