2seventy bio (NASDAQ:TSVT) Shares Gap Up to $13.90

Shares of 2seventy bio, Inc. (NASDAQ:TSVTGet Rating) gapped up prior to trading on Wednesday . The stock had previously closed at $13.90, but opened at $14.50. 2seventy bio shares last traded at $14.13, with a volume of 959 shares traded.

Analyst Upgrades and Downgrades

TSVT has been the subject of several recent analyst reports. Canaccord Genuity Group reduced their target price on shares of 2seventy bio from $42.00 to $28.00 in a research note on Friday, August 12th. Morgan Stanley reduced their target price on shares of 2seventy bio from $28.00 to $27.00 and set an “overweight” rating for the company in a research note on Monday, August 15th. Six investment analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock currently has a consensus rating of “Buy” and a consensus target price of $33.50.

2seventy bio Price Performance

The company’s 50 day moving average is $14.86 and its 200 day moving average is $14.28. The stock has a market cap of $607.50 million and a price-to-earnings ratio of -1.55.

2seventy bio (NASDAQ:TSVTGet Rating) last announced its quarterly earnings data on Wednesday, August 10th. The company reported ($2.02) EPS for the quarter, beating the consensus estimate of ($2.18) by $0.16. 2seventy bio had a negative net margin of 496.68% and a negative return on equity of 100.76%. The firm had revenue of $13.50 million during the quarter, compared to analysts’ expectations of $16.52 million. The business’s revenue for the quarter was up 84.9% compared to the same quarter last year. Sell-side analysts predict that 2seventy bio, Inc. will post -9.5 earnings per share for the current year.

Insider Buying and Selling at 2seventy bio

In related news, CEO Nick Leschly sold 5,404 shares of the company’s stock in a transaction that occurred on Friday, July 15th. The stock was sold at an average price of $13.81, for a total value of $74,629.24. Following the sale, the chief executive officer now owns 551,484 shares of the company’s stock, valued at approximately $7,615,994.04. The transaction was disclosed in a filing with the SEC, which is available through this link. In other 2seventy bio news, insider Philip D. Gregory sold 2,365 shares of the stock in a transaction on Friday, July 15th. The stock was sold at an average price of $13.81, for a total transaction of $32,660.65. Following the sale, the insider now owns 106,795 shares in the company, valued at approximately $1,474,838.95. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO Nick Leschly sold 5,404 shares of the stock in a transaction on Friday, July 15th. The shares were sold at an average price of $13.81, for a total value of $74,629.24. Following the sale, the chief executive officer now owns 551,484 shares in the company, valued at approximately $7,615,994.04. The disclosure for this sale can be found here. Insiders have sold 23,907 shares of company stock valued at $359,336 over the last quarter. Corporate insiders own 2.50% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

A number of large investors have recently bought and sold shares of the stock. Metropolitan Life Insurance Co NY acquired a new stake in shares of 2seventy bio during the first quarter worth $25,000. Ameritas Investment Partners Inc. acquired a new stake in shares of 2seventy bio during the first quarter worth $30,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of 2seventy bio during the second quarter worth $33,000. Amalgamated Bank acquired a new stake in shares of 2seventy bio during the first quarter worth $46,000. Finally, International Biotechnology Trust PLC acquired a new stake in shares of 2seventy bio during the first quarter worth $94,000. Institutional investors and hedge funds own 91.47% of the company’s stock.

2seventy bio Company Profile

(Get Rating)

2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. Its products pipeline includes idecabtagene vicleucel; ide-cel or Abecma and bb21217; and CAR-T cell product candidates for the treatment of multiple myeloma.

Further Reading

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