2seventy bio’s (TSVT) Sell (D-) Rating Reiterated at Weiss Ratings

by · The Cerbat Gem

Weiss Ratings restated their sell (d-) rating on shares of 2seventy bio (NASDAQ:TSVT – Free Report) in a research report released on Saturday,Weiss Ratings reports.

Several other analysts also recently weighed in on TSVT. Morgan Stanley lowered their price target on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Leerink Partners restated a “market perform” rating and issued a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating and four have given a hold rating to the company’s stock. According to data from MarketBeat.com, 2seventy bio presently has an average rating of “Hold” and a consensus target price of $4.25.

Get Our Latest Research Report on TSVT

2seventy bio Trading Up 0.2%

Shares of TSVT opened at $5.00 on Friday. The stock has a market capitalization of $266.15 million, a P/E ratio of -2.69 and a beta of 1.04. The firm’s fifty day simple moving average is $4.83 and its two-hundred day simple moving average is $3.75. 2seventy bio has a 12 month low of $2.29 and a 12 month high of $5.30.

2seventy bio (NASDAQ:TSVT – Get Free Report) last posted its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, topping analysts’ consensus estimates of ($0.10) by $0.11. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. The company had revenue of $22.94 million for the quarter, compared to analyst estimates of $13.96 million. As a group, research analysts predict that 2seventy bio will post -1.46 EPS for the current fiscal 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 shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the sale, the chief executive officer now directly owns 1,121,034 shares in the company, valued at $5,549,118.30. This trade represents a 0.45% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,152,093 shares of company stock worth $25,400,018. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

A number of institutional investors and hedge funds have recently made changes to their positions in the business. Longfellow Investment Management Co. LLC purchased a new position in shares of 2seventy bio during the 1st quarter worth about $73,000. Nuveen LLC bought a new position in shares of 2seventy bio during the 1st quarter worth approximately $512,000. Invesco Ltd. raised its stake in shares of 2seventy bio by 107.9% during the 1st quarter. Invesco Ltd. now owns 215,494 shares of the company’s stock worth $1,065,000 after acquiring an additional 111,839 shares in the last quarter. Wolverine Asset Management LLC bought a new position in shares of 2seventy bio during the 1st quarter worth approximately $85,000. Finally, ABC Arbitrage SA bought a new position in shares of 2seventy bio during the 1st quarter worth approximately $992,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

2seventy bio Company Profile

(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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