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

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have been given an average recommendation of “Moderate Buy” by the nine research firms that are currently covering the company, Marketbeat.com reports. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1-year price objective among analysts that have covered the stock in the last year is $9.00.

TSVT has been the subject of several research analyst reports. The Goldman Sachs Group cut 2seventy bio from a “neutral” rating to a “sell” rating and reduced their price objective for the stock from $5.00 to $2.00 in a research note on Thursday, June 6th. Morgan Stanley cut their price target on shares of 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research note on Thursday, June 27th.

Insider Activity at 2seventy bio

In related news, insider Jessica Snow sold 7,816 shares of the stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $4.32, for a total transaction of $33,765.12. Following the transaction, the insider now owns 156,330 shares of the company’s stock, valued at approximately $675,345.60. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. 7.20% of the stock is owned by insiders.

Institutional Investors Weigh In On 2seventy bio

A number of large investors have recently modified their holdings of the company. Pale Fire Capital SE boosted its holdings in 2seventy bio by 67.5% in the fourth quarter. Pale Fire Capital SE now owns 40,688 shares of the company’s stock valued at $174,000 after purchasing an additional 16,400 shares in the last quarter. Engine Capital Management LP boosted its holdings in shares of 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 buying an additional 1,152,434 shares in the last quarter. Madison Avenue Partners LP grew its position in shares of 2seventy bio by 17.4% in the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock valued at $7,493,000 after buying an additional 260,663 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in 2seventy bio by 512.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock worth $19,253,000 after acquiring an additional 3,772,556 shares in the last quarter. Finally, Wedmont Private Capital purchased a new stake in 2seventy bio in the first quarter valued at $484,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

2seventy bio Stock Up 4.6 %

NASDAQ TSVT opened at $4.81 on Thursday. 2seventy bio has a 52 week low of $1.53 and a 52 week high of $6.40. The company has a 50 day moving average price of $4.58 and a 200 day moving average price of $4.53. The firm has a market cap of $247.72 million, a PE ratio of -1.11 and a beta of 1.77.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. The business had revenue of $8.97 million for the quarter, compared to the consensus estimate of $11.43 million. 2seventy bio had a negative return on equity of 66.01% and a negative net margin of 354.16%. On average, equities research analysts anticipate that 2seventy bio will post -1.33 earnings per share for the current fiscal year.

About 2seventy bio

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.