2seventy bio, Inc. (NASDAQ:TSVT) Receives $13.17 Average PT from Brokerages

2seventy bio, Inc. (NASDAQ:TSVT) has received a consensus rating of “Hold” from the eight analysts that are presently covering the firm, Marketbeat reports. Five research analysts have rated the stock with a hold rating and three have issued a buy rating on the company. The average 1 year price target among brokers that have issued ratings on the stock in the last year is $13.17.

A number of analysts recently issued reports on TSVT shares. Citigroup increased their target price on 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Wedbush reaffirmed a “neutral” rating and issued a $5.00 price objective on shares of 2seventy bio in a research report on Monday, March 18th. TD Cowen reaffirmed a “market perform” rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Leerink Partnrs upgraded 2seventy bio from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Finally, SVB Leerink upgraded 2seventy bio from a “market perform” rating to an “outperform” rating and increased their price objective for the stock from $5.00 to $18.00 in a report on Wednesday, January 31st.

Insider Activity at 2seventy bio

In other news, Director Casdin Capital, Llc bought 300,000 shares of the firm’s stock in a transaction that occurred on Thursday, March 21st. The stock was acquired at an average cost of $4.90 per share, with a total value of $1,470,000.00. Following the completion of the purchase, the director now owns 1,482,623 shares of the company’s stock, valued at $7,264,852.70. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

Several hedge funds have recently bought and sold shares of the company. Kynam Capital Management LP raised its stake in 2seventy bio by 21.7% in the third quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock valued at $23,339,000 after buying an additional 1,063,119 shares during the period. Goldman Sachs Group Inc. raised its stake in 2seventy bio by 512.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after acquiring an additional 3,772,556 shares during the period. Newtyn Management LLC raised its stake in 2seventy bio by 317.0% in the 3rd quarter. Newtyn Management LLC now owns 3,076,490 shares of the company’s stock valued at $12,060,000 after acquiring an additional 2,338,746 shares during the period. Wellington Management Group LLP lifted its holdings in 2seventy bio by 4.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,994,471 shares of the company’s stock valued at $11,738,000 after purchasing an additional 114,549 shares during the last quarter. Finally, Madison Avenue Partners LP boosted 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 purchasing an additional 260,663 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

2seventy bio Stock Down 3.4 %

Shares of NASDAQ TSVT opened at $4.76 on Monday. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $12.69. The stock has a market cap of $244.66 million, a price-to-earnings ratio of -1.08 and a beta of 1.87. The company’s fifty day moving average is $4.95 and its 200-day moving average is $4.04.

2seventy bio (NASDAQ:TSVT) last posted its earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share for the quarter, topping the consensus estimate of ($1.22) by $0.11. 2seventy bio had a negative return on equity of 59.19% and a negative net margin of 216.73%. The firm had revenue of $10.68 million for the quarter, compared to analyst estimates of $13.91 million. During the same period in the previous year, the company posted ($0.60) earnings per share. On average, research analysts anticipate that 2seventy bio will post -1.39 EPS for the current fiscal year.

2seventy bio Company Profile

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.