2seventy bio (NASDAQ:TSVT) PT Lowered to $21.00

2seventy bio (NASDAQ:TSVT – Get Rating) had its price target dropped by Wedbush from $28.00 to $21.00 in a research report issued to clients and investors on Friday, Benzinga reports. The brokerage currently has an “outperform” rating on the stock. Wedbush’s price target would suggest a potential upside of 110.00% from the stock’s previous close.

Other research analysts have also issued reports about the company. Morgan Stanley lowered their price objective on 2seventy bio from $29.00 to $28.00 and set an “overweight” rating for the company in a research report on Tuesday, January 24th. The Goldman Sachs Group boosted their price target on shares of 2seventy bio from $25.00 to $28.00 and gave the company a “buy” rating in a research note on Friday, January 20th. Finally, SVB Leerink dropped their target price on 2seventy bio from $41.00 to $34.00 and set an “outperform” rating for the company in a research report on Tuesday, January 10th. Five investment analysts have rated the stock with a buy rating, Based on data from MarketBeat.com, the stock presently has a consensus rating of “Buy” and an average target price of $28.17.

2seventy bio Stock Up 1.8 %

Shares of NASDAQ:TSVT opened at $10.00 on Friday. 2seventy bio has a 52-week low of $8.44 and a 52-week high of $19.33. The stock has a market cap of $379.20 million, a P/E ratio of -1.05 and a beta of 1.79. The business has a fifty day moving average of $11.96 and a two-hundred day moving average of $13.27.

Insider Buying and Selling

In other news, insider Philip D. Gregory sold 3,794 shares of the firm’s stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $10.33, for a total transaction of $39,192.02. Following the completion of the sale, the insider now directly owns 100,594 shares of the company’s stock, valued at approximately $1,039,136.02. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, insider Philip D. Gregory sold 3,794 shares of 2seventy bio stock in a transaction dated Monday, January 9th. The stock was sold at an average price of $10.33, for a total transaction of $39,192.02. Following the sale, the insider now directly owns 100,594 shares of the company’s stock, valued at $1,039,136.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, CFO William D. Baird III sold 3,222 shares of the company’s stock in a transaction dated Monday, January 9th. The shares were sold at an average price of $10.33, for a total transaction of $33,283.26. Following the completion of the sale, the chief financial officer now directly owns 79,874 shares in the company, valued at approximately $825,098.42. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 20,144 shares of company stock worth $211,502. Corporate insiders own 2.50% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

Several institutional investors and hedge funds have recently made changes to their positions in the company. Captrust Financial Advisors grew its holdings in shares of 2seventy bio by 6.9% during the second quarter. Captrust Financial Advisors now owns 10,616 shares of the company’s stock worth $140,000 after buying an additional 684 shares in the last quarter. Royal Bank of Canada boosted its stake in shares of 2seventy bio by 25.9% during the 3rd quarter. Royal Bank of Canada now owns 4,430 shares of the company’s stock worth $66,000 after acquiring an additional 910 shares during the period. Metropolitan Life Insurance Co NY acquired a new position in shares of 2seventy bio in the first quarter valued at $25,000. Legal & General Group Plc raised its position in shares of 2seventy bio by 7.4% in the second quarter. Legal & General Group Plc now owns 22,820 shares of the company’s stock valued at $301,000 after purchasing an additional 1,566 shares during the period. Finally, UBS Asset Management Americas Inc. lifted its stake in shares of 2seventy bio by 3.6% during the 3rd quarter. UBS Asset Management Americas Inc. now owns 47,237 shares of the company’s stock worth $687,000 after buying an additional 1,646 shares during the last quarter. Institutional investors and hedge funds own 89.47% of the company’s stock.

2seventy bio Company Profile

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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.