Weiss Ratings Reaffirms Sell (D-) Rating for 2seventy bio (NASDAQ:TSVT)

2seventy bio (NASDAQ:TSVT)‘s stock had its “sell (d-)” rating reiterated by stock analysts at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Other analysts have also recently issued reports about the company. Leerink Partners reissued a “market perform” rating and issued a $5.00 target price (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Leerink Partnrs cut 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley cut their target price on 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. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $4.25.

2seventy bio Price Performance

NASDAQ TSVT opened at $4.99 on Friday. The stock has a market capitalization of $265.62 million, a PE ratio of -2.68 and a beta of 1.04. 2seventy bio has a 1 year low of $2.29 and a 1 year high of $5.30. The business’s 50-day moving average is $4.79 and its 200 day moving average is $3.75.

2seventy bio (NASDAQ:TSVT) last posted its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.10) by $0.11. The company had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $13.96 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. As a group, equities research analysts anticipate that 2seventy bio will post -1.46 earnings per share for the current year.

Insiders Place Their Bets

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, CEO William D. Baird III sold 5,092 shares of the firm’s stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction 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 disclosure for this sale can be found here. Insiders sold 5,152,093 shares of company stock worth $25,400,018 over the last three months. Company insiders own 7.20% of the company’s stock.

Institutional Trading of 2seventy bio

Several institutional investors and hedge funds have recently bought and sold shares of the stock. ABC Arbitrage SA purchased a new stake in 2seventy bio in the first quarter worth about $992,000. Concurrent Investment Advisors LLC purchased a new position in shares of 2seventy bio during the first quarter valued at approximately $88,000. Toronto Dominion Bank purchased a new position in shares of 2seventy bio during the fourth quarter valued at approximately $2,352,000. Western Standard LLC lifted its holdings in shares of 2seventy bio by 175.7% during the fourth quarter. Western Standard LLC now owns 788,350 shares of the company’s stock valued at $2,318,000 after purchasing an additional 502,419 shares during the last quarter. Finally, Stonepine Capital Management LLC lifted its holdings in shares of 2seventy bio by 200.0% during the fourth quarter. Stonepine Capital Management LLC now owns 300,000 shares of the company’s stock valued at $882,000 after purchasing an additional 200,000 shares during the last quarter. 93.90% of the stock is currently owned by hedge funds and other 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.