2seventy bio, Inc. (NASDAQ:TSVT) Given Average Rating of “Moderate Buy” by Brokerages

2seventy bio, Inc. (NASDAQ:TSVT) has been assigned a consensus rating of “Moderate Buy” from the ten analysts that are presently covering the company, MarketBeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has issued a strong buy rating on the company. The average twelve-month target price among analysts that have covered the stock in the last year is $9.00.

Several equities analysts recently weighed in on the stock. The Goldman Sachs Group lowered shares of 2seventy bio from a “neutral” rating to a “sell” rating and reduced their price target for the company from $5.00 to $2.00 in a research report on Thursday, June 6th. Morgan Stanley decreased their price target 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. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of 2seventy bio in a research note on Thursday, June 27th.

2seventy bio Stock Down 0.9 %

2seventy bio stock opened at $4.40 on Friday. The stock has a market cap of $226.18 million, a P/E ratio of -1.01 and a beta of 1.77. The company’s 50 day moving average price is $4.45 and its two-hundred day moving average price is $4.59. 2seventy bio has a 52 week low of $1.53 and a 52 week high of $6.40.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. The business had revenue of $8.97 million for the quarter, compared to analyst estimates of $11.43 million. 2seventy bio had a negative return on equity of 66.01% and a negative net margin of 354.16%. On average, equities analysts anticipate that 2seventy bio will post -0.79 EPS for the current year.

Insider Buying and Selling at 2seventy bio

In other news, insider Jessica Snow sold 7,816 shares of the firm’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $4.32, for a total value of $33,765.12. Following the completion of the transaction, the insider now directly owns 156,330 shares of the company’s stock, valued at $675,345.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

A number of institutional investors and hedge funds have recently modified their holdings of TSVT. Goldman Sachs Group Inc. increased its holdings in 2seventy bio by 512.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock worth $19,253,000 after acquiring an additional 3,772,556 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of 2seventy bio in the first quarter worth $9,291,000. Engine Capital Management LP raised its position in shares of 2seventy bio by 337.1% in the fourth quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock worth $6,381,000 after buying an additional 1,152,434 shares in the last quarter. Jacobs Levy Equity Management Inc. bought a new stake in 2seventy bio during the first quarter valued at $2,031,000. Finally, Madison Avenue Partners LP grew its position in 2seventy bio by 17.4% during the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after buying an additional 260,663 shares in the last quarter. 93.90% of the stock is 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.