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

Weiss Ratings reiterated their sell (d-) rating on shares of 2seventy bio (NASDAQ:TSVT) in a research report sent to investors on Saturday morning,Weiss Ratings reports.

TSVT has been the subject of a number of other research reports. Leerink Partnrs downgraded shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Morgan Stanley cut their target price on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Finally, Leerink Partners reaffirmed a “market perform” rating and issued a $5.00 target price (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, 2seventy bio currently has an average rating of “Hold” and an average target price of $4.25.

2seventy bio Price Performance

Shares of NASDAQ:TSVT opened at $5.00 on Friday. The firm has a market capitalization of $266.15 million, a price-to-earnings ratio of -2.69 and a beta of 1.04. The business’s 50 day moving average price is $4.83 and its 200-day moving average price is $3.75. 2seventy bio has a 1 year low of $2.29 and a 1 year high of $5.30.

2seventy bio (NASDAQ:TSVT) last issued its earnings results on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, beating analysts’ consensus estimates of ($0.10) by $0.11. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. The business had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $13.96 million. On average, sell-side analysts expect that 2seventy bio will post -1.46 earnings per share for the current year.

Insider Buying and Selling at 2seventy bio

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO William D. Baird III sold 5,092 shares of the business’s stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the completion of the transaction, 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 disclosure for this sale can be found here. In the last three months, 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.

Hedge Funds Weigh In On 2seventy bio

A number of institutional investors and hedge funds have recently made changes to their positions in TSVT. China Universal Asset Management Co. Ltd. acquired a new position in shares of 2seventy bio during the 4th quarter worth $32,000. BNP Paribas Financial Markets acquired a new position in shares of 2seventy bio during the 4th quarter worth $35,000. ProShare Advisors LLC purchased a new stake in shares of 2seventy bio in the 4th quarter worth about $48,000. Raymond James Financial Inc. purchased a new stake in shares of 2seventy bio in the 4th quarter worth about $52,000. Finally, Intech Investment Management LLC boosted its position in shares of 2seventy bio by 41.1% in the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock worth $61,000 after buying an additional 6,030 shares in the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.

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.