2seventy bio’s (TSVT) Sell (D-) Rating Reaffirmed at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of 2seventy bio (NASDAQ:TSVT) in a report released on Saturday morning,Weiss Ratings reports.

A number of other equities analysts have also recently issued reports on TSVT. Morgan Stanley reduced their price objective on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Leerink Partners reaffirmed a “market perform” rating and set a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Finally, Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating and four have issued a hold rating to the company’s stock. According to MarketBeat, 2seventy bio presently has an average rating of “Hold” and a consensus price target of $4.25.

2seventy bio Stock Performance

NASDAQ TSVT opened at $4.99 on Friday. 2seventy bio has a 52 week low of $2.29 and a 52 week high of $5.30. The stock has a market capitalization of $265.62 million, a P/E ratio of -2.68 and a beta of 1.04. The stock has a fifty day moving average of $4.79 and a 200-day moving average of $3.76.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.11. The firm had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $13.96 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. Equities research analysts forecast that 2seventy bio will post -1.46 earnings per share for the current fiscal year.

Insider Buying and Selling

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the completion of the sale, the chief executive officer now directly owns 1,121,034 shares in the company, valued at $5,549,118.30. This represents a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction dated Tuesday, March 11th. The shares were 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. In the last quarter, insiders have sold 5,152,093 shares of company stock valued at $25,400,018. 7.20% of the stock is owned by company insiders.

Institutional Investors Weigh In On 2seventy bio

Large investors have recently made changes to their positions in the stock. Northern Trust Corp boosted its stake in 2seventy bio by 1.4% in the 4th quarter. Northern Trust Corp now owns 408,083 shares of the company’s stock worth $1,200,000 after purchasing an additional 5,470 shares during the period. Eversept Partners LP boosted its position in shares of 2seventy bio by 0.6% during the fourth quarter. Eversept Partners LP now owns 1,003,678 shares of the company’s stock worth $2,951,000 after buying an additional 5,599 shares during the period. American Century Companies Inc. grew its holdings in shares of 2seventy bio by 6.6% during the fourth quarter. American Century Companies Inc. now owns 93,552 shares of the company’s stock worth $275,000 after buying an additional 5,785 shares in the last quarter. Intech Investment Management LLC raised its position in 2seventy bio by 41.1% in the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after buying an additional 6,030 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its stake in 2seventy bio by 23.2% in the 4th quarter. Wells Fargo & Company MN now owns 32,532 shares of the company’s stock valued at $96,000 after acquiring an additional 6,133 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

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.