2seventy bio’s (TSVT) Sell (E+) Rating Reiterated at Weiss Ratings

Weiss Ratings reiterated their sell (e+) rating on shares of 2seventy bio (NASDAQ:TSVT) in a report released on Saturday,Weiss Ratings reports.

TSVT has been the topic of several other reports. Leerink Partners reaffirmed a “market perform” rating and issued a $5.00 price target (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley reduced their price target on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, 2seventy bio presently has an average rating of “Hold” and an average price target of $6.67.

2seventy bio Stock Up 0.2 %

Shares of TSVT opened at $4.96 on Friday. The firm has a market cap of $255.88 million, a price-to-earnings ratio of -2.67 and a beta of 1.73. The business’s 50 day moving average is $3.04 and its two-hundred day moving average is $3.70. 2seventy bio has a 52-week low of $2.29 and a 52-week high of $5.99.

Insiders Place Their Bets

In related news, CEO William D. Baird III sold 5,092 shares of the firm’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the sale, the chief executive officer now owns 1,121,034 shares of the company’s stock, valued at approximately $5,549,118.30. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The disclosure for this sale can be found here. Over the last three months, insiders have sold 5,152,093 shares of company stock valued at $25,400,018. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

Hedge funds have recently added to or reduced their stakes in the stock. Erste Asset Management GmbH bought a new position in shares of 2seventy bio during the third quarter worth about $25,000. China Universal Asset Management Co. Ltd. bought a new position in 2seventy bio in the 4th quarter worth about $32,000. Readystate Asset Management LP acquired a new stake in shares of 2seventy bio in the third quarter valued at approximately $53,000. BNP Paribas Financial Markets acquired a new stake in shares of 2seventy bio in the fourth quarter valued at approximately $35,000. Finally, GSA Capital Partners LLP bought a new stake in shares of 2seventy bio during the third quarter valued at approximately $64,000. 93.90% of the stock is currently owned by institutional investors.

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.