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

2seventy bio (NASDAQ:TSVT)‘s stock had its “sell (e+)” rating reaffirmed by stock analysts at Weiss Ratings in a note issued to investors on Saturday,Weiss Ratings reports.

Several other analysts also recently weighed in on TSVT. 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 decreased their price target on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Finally, Leerink Partners reaffirmed a “market perform” rating and set a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. 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 company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $6.67.

2seventy bio Stock Performance

2seventy bio stock opened at $4.95 on Friday. The company has a 50 day moving average price of $2.99 and a 200-day moving average price of $3.70. 2seventy bio has a fifty-two week low of $2.29 and a fifty-two week high of $5.99. The company has a market capitalization of $255.36 million, a PE ratio of -2.66 and a beta of 1.73.

Insider Buying and Selling

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 transaction was disclosed in a document filed with the SEC, which is available through this link. Also, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction on Monday, March 17th. The stock was 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. Insiders sold 5,152,093 shares of company stock valued at $25,400,018 over the last 90 days. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

Several institutional investors and hedge funds have recently bought and sold shares of TSVT. Erste Asset Management GmbH purchased a new position in 2seventy bio in the third quarter worth $25,000. China Universal Asset Management Co. Ltd. purchased a new position in 2seventy bio in the fourth quarter worth $32,000. BNP Paribas Financial Markets purchased a new position in 2seventy bio in the fourth quarter worth $35,000. ProShare Advisors LLC purchased a new position in 2seventy bio in the fourth quarter worth $48,000. Finally, Raymond James Financial Inc. purchased a new position in 2seventy bio in the fourth quarter worth $52,000. 93.90% of the stock is owned by hedge funds and other 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.