2seventy bio, Inc. (NASDAQ:TSVT) Given Average Rating of “Moderate Buy” by Analysts

2seventy bio, Inc. (NASDAQ:TSVTGet Free Report) has earned a consensus recommendation of “Moderate Buy” from the ten ratings firms that are presently covering the firm, Marketbeat.com reports. One equities research analyst has rated the stock with a sell recommendation, four have assigned a hold recommendation, four have assigned a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price objective among analysts that have covered the stock in the last year is $12.43.

TSVT has been the topic of several research analyst reports. Wedbush restated a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a research report on Monday, March 18th. The Goldman Sachs Group lowered shares of 2seventy bio from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $5.00 to $2.00 in a research report on Thursday, June 6th. Canaccord Genuity Group decreased their target price on shares of 2seventy bio from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Citigroup boosted their target price on shares of 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Finally, Canaccord Genuity Group upgraded shares of 2seventy bio to a “strong-buy” rating in a research report on Thursday, May 9th.

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2seventy bio Stock Performance

Shares of TSVT opened at $3.86 on Tuesday. The stock has a market capitalization of $198.42 million, a P/E ratio of -0.89 and a beta of 1.80. The company’s fifty day moving average is $4.40 and its two-hundred day moving average is $4.53. 2seventy bio has a 1 year low of $1.53 and a 1 year high of $11.29.

2seventy bio (NASDAQ:TSVTGet Free Report) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.81) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.72) by ($0.09). The firm had revenue of $12.44 million during the quarter, compared to analyst estimates of $11.93 million. 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. Sell-side analysts predict that 2seventy bio will post -0.93 EPS for the current year.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSVT. Goldman Sachs Group Inc. lifted its holdings 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 purchasing an additional 3,772,556 shares in the last quarter. Newtyn Management LLC lifted its holdings 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 purchasing an additional 2,338,746 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in 2seventy bio in the 1st quarter valued at about $9,291,000. Engine Capital Management LP lifted its holdings in 2seventy bio by 337.1% in the 4th quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock valued at $6,381,000 after purchasing an additional 1,152,434 shares in the last quarter. Finally, Kynam Capital Management LP lifted its holdings in 2seventy bio by 21.7% in the 3rd quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock valued at $23,339,000 after purchasing an additional 1,063,119 shares in the last quarter. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

About 2seventy bio

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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. 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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Analyst Recommendations for 2seventy bio (NASDAQ:TSVT)

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