Morgan Stanley Cuts 2seventy bio (NASDAQ:TSVT) Price Target to $5.00

2seventy bio (NASDAQ:TSVT) had its price objective cut by stock analysts at Morgan Stanley from $6.00 to $5.00 in a research note issued on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective would indicate a potential upside of 1.01% from the stock’s current price.

Several other analysts have also commented on TSVT. Leerink Partners reiterated a “market perform” rating and issued a $5.00 price target (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 2seventy bio in a research report on Friday, March 7th. Finally, Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, 2seventy bio currently has a consensus rating of “Hold” and an average price target of $6.67.

2seventy bio Stock Performance

Shares of 2seventy bio stock opened at $4.95 on Friday. 2seventy bio has a 12-month low of $2.29 and a 12-month high of $5.99. The stock has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. The company has a 50-day moving average of $2.76 and a two-hundred day moving average of $3.69.

Insider Buying and Selling at 2seventy bio

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio 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 document filed with the SEC, which is available at the SEC website. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On 2seventy bio

A number of hedge funds have recently made changes to their positions in TSVT. BBR Partners LLC increased its stake in 2seventy bio by 620.0% during the 3rd quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock worth $850,000 after buying an additional 155,000 shares during the period. Rhumbline Advisers increased its stake in 2seventy bio by 9.5% during the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock worth $249,000 after buying an additional 7,379 shares during the period. Geode Capital Management LLC increased its stake in 2seventy bio by 1.1% during the 3rd quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock worth $5,553,000 after buying an additional 13,144 shares during the period. GSA Capital Partners LLP purchased a new stake in 2seventy bio during the 3rd quarter worth $64,000. Finally, FMR LLC increased its stake in 2seventy bio by 22.0% during the 3rd quarter. FMR LLC now owns 148,545 shares of the company’s stock worth $701,000 after buying an additional 26,738 shares during the period. Hedge funds and other 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.