Canaccord Genuity Group Cuts 2seventy bio (NASDAQ:TSVT) Price Target to $11.00

2seventy bio (NASDAQ:TSVT) had its target price lowered by Canaccord Genuity Group from $12.00 to $11.00 in a research note issued to investors on Thursday morning, Benzinga reports. The brokerage currently has a buy rating on the stock.

Several other research firms also recently commented on TSVT. Citigroup boosted their target price on 2seventy bio from $9.00 to $12.00 and gave the stock a buy rating in a research report on Monday, April 8th. Wedbush reiterated a neutral rating and set a $5.00 target price on shares of 2seventy bio in a research note on Monday, March 18th. Leerink Partnrs upgraded 2seventy bio from a market perform rating to an outperform rating in a research note on Wednesday, January 31st. SVB Leerink upgraded 2seventy bio from a market perform rating to an outperform rating and upped their price objective for the company from $5.00 to $18.00 in a research report on Wednesday, January 31st. Finally, TD Cowen restated a market perform rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Five analysts have rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of Hold and a consensus target price of $12.86.

2seventy bio Stock Performance

Shares of TSVT stock opened at $4.38 on Thursday. The company has a market capitalization of $225.15 million, a price-to-earnings ratio of -1.01 and a beta of 1.87. 2seventy bio has a one year low of $1.53 and a one year high of $12.69. The company’s 50-day moving average is $4.86 and its 200 day moving average is $4.07.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share for the quarter, beating the consensus estimate of ($1.22) by $0.11. 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 62.01%. The company had revenue of $10.68 million during the quarter, compared to the consensus estimate of $13.91 million. During the same quarter last year, the firm earned ($0.60) earnings per share. As a group, research analysts predict that 2seventy bio will post -1.39 earnings per share for the current fiscal year.

Insider Activity at 2seventy bio

In other news, Director Casdin Capital, Llc bought 330,000 shares of the firm’s stock in a transaction on Monday, March 25th. The shares were bought at an average price of $5.07 per share, for a total transaction of $1,673,100.00. Following the purchase, the director now owns 1,960,000 shares in the company, valued at $9,937,200. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 2.60% of the stock is currently owned by corporate insiders.

Institutional Investors Weigh In On 2seventy bio

A number of institutional investors and hedge funds have recently bought and sold shares of the business. Tower Research Capital LLC TRC grew its position in shares of 2seventy bio by 15.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock worth $62,000 after purchasing an additional 1,925 shares in the last quarter. Deutsche Bank AG grew its holdings in 2seventy bio by 15.7% during the 3rd quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock valued at $102,000 after buying an additional 3,537 shares in the last quarter. SG Americas Securities LLC raised its position in shares of 2seventy bio by 20.9% during the fourth quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock valued at $117,000 after buying an additional 4,715 shares during the last quarter. Exchange Traded Concepts LLC lifted its holdings in shares of 2seventy bio by 34.0% in the fourth quarter. Exchange Traded Concepts LLC now owns 34,616 shares of the company’s stock worth $148,000 after buying an additional 8,778 shares in the last quarter. Finally, Brighton Jones LLC bought a new position in shares of 2seventy bio during the third quarter worth $60,000. 93.90% of the stock is owned by institutional investors.

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.