2seventy bio (NASDAQ:TSVT) Given Neutral Rating at Wedbush

Wedbush restated their neutral rating on shares of 2seventy bio (NASDAQ:TSVT) in a research report released on Thursday morning, Benzinga reports. The firm currently has a $5.00 price target on the stock.

Several other research analysts also recently issued reports on TSVT. Canaccord Genuity Group lowered their price objective on 2seventy bio from $12.00 to $11.00 and set a buy rating for the company in a research note on Thursday, May 9th. The Goldman Sachs Group downgraded shares of 2seventy bio from a neutral rating to a sell rating and dropped their price target for the company from $5.00 to $2.00 in a research note on Thursday, June 6th. Citigroup raised their target price on 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 raised 2seventy bio to a strong-buy rating in a research note on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of Moderate Buy and an average price target of $12.43.

2seventy bio Stock Performance

2seventy bio stock opened at $3.76 on Thursday. 2seventy bio has a fifty-two week low of $1.53 and a fifty-two week high of $11.29. The company’s 50-day moving average is $4.33 and its 200-day moving average is $4.52.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings results on Wednesday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.09). 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. The company had revenue of $12.44 million during the quarter, compared to the consensus estimate of $11.93 million. As a group, research analysts predict that 2seventy bio will post -0.93 EPS for the current fiscal year.

Institutional Investors Weigh In On 2seventy bio

Several large investors have recently added to or reduced their stakes in TSVT. Goldman Sachs Group Inc. boosted its holdings in shares of 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 buying an additional 3,772,556 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund bought a new position in 2seventy bio during the first quarter worth $9,291,000. Engine Capital Management LP grew its holdings in 2seventy bio by 337.1% in the fourth quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock worth $6,381,000 after purchasing an additional 1,152,434 shares during the period. Kynam Capital Management LP increased its stake in 2seventy bio by 21.7% in the third 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. Finally, Jacobs Levy Equity Management Inc. bought a new position in shares of 2seventy bio during the 1st quarter worth about $2,031,000. Institutional investors and hedge funds 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.