2seventy bio, Inc. (NASDAQ:TSVT) Receives Consensus Recommendation of “Hold” from Analysts

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have earned an average rating of “Hold” from the eight analysts that are currently covering the firm, MarketBeat Ratings reports. Five equities research analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. The average 1 year price objective among brokers that have issued a report on the stock in the last year is $13.17.

A number of equities research analysts have recently commented on the stock. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of 2seventy bio in a research note on Monday, March 18th. Citigroup boosted their price objective on 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, April 8th. SVB Leerink raised 2seventy bio from a “market perform” rating to an “outperform” rating and raised their target price for the stock from $5.00 to $18.00 in a research note on Wednesday, January 31st. TD Cowen reissued a “market perform” rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Finally, Leerink Partnrs upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st.

Insider Transactions at 2seventy bio

In related news, Director Casdin Capital, Llc acquired 330,000 shares of the company’s stock in a transaction dated Monday, March 25th. The stock was purchased at an average price of $5.07 per share, with a total value of $1,673,100.00. Following the completion of the purchase, the director now owns 1,960,000 shares in the company, valued at approximately $9,937,200. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 2.60% of the company’s stock.

Institutional Trading of 2seventy bio

Several large investors have recently bought and sold shares of TSVT. SG Americas Securities LLC purchased a new stake in 2seventy bio in the third quarter worth about $89,000. Exchange Traded Concepts LLC grew its stake in shares of 2seventy bio by 114.7% in the 3rd quarter. Exchange Traded Concepts LLC now owns 25,838 shares of the company’s stock worth $101,000 after buying an additional 13,802 shares during the last quarter. Brighton Jones LLC bought a new position in 2seventy bio during the 3rd quarter valued at approximately $60,000. Mirae Asset Global Investments Co. Ltd. raised its stake in 2seventy bio by 11.9% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 247,874 shares of the company’s stock valued at $972,000 after buying an additional 26,384 shares during the last quarter. Finally, Panagora Asset Management Inc. bought a new stake in 2seventy bio in the third quarter worth $852,000. 93.90% of the stock is owned by institutional investors.

2seventy bio Stock Performance

2seventy bio stock opened at $4.26 on Monday. 2seventy bio has a 52 week low of $1.53 and a 52 week high of $12.69. The stock has a market capitalization of $218.58 million, a P/E ratio of -0.96 and a beta of 1.84. The stock has a fifty day moving average of $5.04 and a 200-day moving average of $4.02.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.11. The company had revenue of $10.68 million during the quarter, compared to the consensus estimate of $13.91 million. 2seventy bio had a negative net margin of 216.73% and a negative return on equity of 59.19%. During the same period in the prior year, the business earned ($0.60) earnings per share. On average, research analysts forecast that 2seventy bio will post -1.39 earnings per share for the current year.

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.