2seventy bio (NASDAQ:TSVT) Stock Rating Upgraded by SVB Leerink

2seventy bio (NASDAQ:TSVTGet Free Report) was upgraded by research analysts at SVB Leerink from a “market perform” rating to an “outperform” rating in a research report issued to clients and investors on Wednesday, Marketbeat reports. The brokerage presently has a $18.00 target price on the stock, up from their previous target price of $5.00. SVB Leerink’s target price would indicate a potential upside of 246.82% from the stock’s previous close.

Several other analysts also recently weighed in on the stock. Citigroup started coverage on shares of 2seventy bio in a research report on Thursday, October 12th. They set a “buy” rating and a $13.00 target price on the stock. Wedbush downgraded shares of 2seventy bio from an “outperform” rating to a “neutral” rating in a report on Monday, November 20th. Finally, Leerink Partnrs downgraded shares of 2seventy bio from an “outperform” rating to a “market perform” rating in a report on Monday, October 30th. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $13.17.

Check Out Our Latest Analysis on 2seventy bio

2seventy bio Stock Performance

NASDAQ:TSVT opened at $5.19 on Wednesday. The firm has a 50-day simple moving average of $3.40 and a 200-day simple moving average of $4.25. 2seventy bio has a one year low of $1.53 and a one year high of $15.25. The firm has a market cap of $262.72 million, a P/E ratio of -1.33 and a beta of 1.85.

2seventy bio (NASDAQ:TSVTGet Free Report) last issued its quarterly earnings data on Tuesday, November 14th. The company reported ($1.00) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.31. The firm had revenue of $12.03 million for the quarter, compared to the consensus estimate of $26.39 million. 2seventy bio had a negative net margin of 126.06% and a negative return on equity of 47.12%. On average, research analysts predict that 2seventy bio will post -3.87 EPS for the current fiscal year.

Insiders Place Their Bets

In other news, insider Philip D. Gregory sold 25,613 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $3.87, for a total value of $99,122.31. Following the completion of the sale, the insider now directly owns 231,637 shares in the company, valued at $896,435.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. In other news, insider Philip D. Gregory sold 25,613 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $3.87, for a total value of $99,122.31. Following the completion of the sale, the insider now directly owns 231,637 shares in the company, valued at $896,435.19. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO William D. Baird III sold 33,651 shares of the stock in a transaction dated Wednesday, January 3rd. The shares were sold at an average price of $3.87, for a total transaction of $130,229.37. Following the completion of the sale, the chief operating officer now owns 162,715 shares of the company’s stock, valued at $629,707.05. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 135,305 shares of company stock worth $523,183. Company insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

A number of hedge funds have recently modified their holdings of TSVT. Metropolitan Life Insurance Co NY purchased a new stake in shares of 2seventy bio in the first quarter valued at about $25,000. US Bancorp DE grew its holdings in shares of 2seventy bio by 754.1% in the second quarter. US Bancorp DE now owns 2,528 shares of the company’s stock valued at $26,000 after purchasing an additional 2,232 shares during the period. Ameritas Investment Partners Inc. purchased a new stake in shares of 2seventy bio in the first quarter valued at about $30,000. Zurcher Kantonalbank Zurich Cantonalbank purchased a new stake in shares of 2seventy bio in the second quarter valued at about $33,000. Finally, Diversified Trust Co purchased a new stake in shares of 2seventy bio in the third quarter valued at about $41,000. 98.49% of the stock is currently owned by institutional investors and hedge funds.

About 2seventy bio

(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 idecabtagene vicleucel; ide-cel or Abecma and bb21217; and chimeric antigen receptor-T cell product candidates for the treatment of multiple myeloma.

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Analyst Recommendations for 2seventy bio (NASDAQ:TSVT)

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