2seventy bio, Inc. (NASDAQ:TSVT) Receives Average Recommendation of “Moderate Buy” from Brokerages

2seventy bio, Inc. (NASDAQ:TSVT) has earned an average rating of “Moderate Buy” from the nine brokerages that are covering the stock, Marketbeat reports. One research analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 1 year target price among brokerages that have issued ratings on the stock in the last year is $9.00.

TSVT has been the subject of several analyst reports. Wedbush restated a “neutral” rating and set a $5.00 price target on shares of 2seventy bio in a report on Thursday, June 27th. The Goldman Sachs Group downgraded shares of 2seventy bio from a “neutral” rating to a “sell” rating and lowered their target price for the stock from $5.00 to $2.00 in a research note on Thursday, June 6th. Finally, Morgan Stanley cut their price target on shares of 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th.

Insider Buying and Selling

In other news, insider Jessica Snow sold 7,816 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $4.32, for a total value of $33,765.12. Following the completion of the sale, the insider now directly owns 156,330 shares in the company, valued at approximately $675,345.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On 2seventy bio

Institutional investors have recently modified their holdings of the company. SkyView Investment Advisors LLC increased its position in shares of 2seventy bio by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the company’s stock worth $48,000 after acquiring an additional 2,500 shares in the last quarter. Nisa Investment Advisors LLC bought a new stake in 2seventy bio during the 2nd quarter worth approximately $52,000. BBR Partners LLC raised its stake in shares of 2seventy bio by 66.7% in the second quarter. BBR Partners LLC now owns 25,000 shares of the company’s stock worth $96,000 after purchasing an additional 10,000 shares during the last quarter. Public Employees Retirement System of Ohio lifted its holdings in shares of 2seventy bio by 2,637.0% in the first quarter. Public Employees Retirement System of Ohio now owns 27,370 shares of the company’s stock valued at $146,000 after purchasing an additional 26,370 shares in the last quarter. Finally, Price T Rowe Associates Inc. MD boosted its position in shares of 2seventy bio by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock valued at $155,000 after buying an additional 2,893 shares during the last quarter. 93.90% of the stock is owned by institutional investors and hedge funds.

2seventy bio Stock Down 9.4 %

NASDAQ TSVT opened at $4.32 on Thursday. The company has a market capitalization of $222.07 million, a price-to-earnings ratio of -0.99 and a beta of 1.77. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $6.40. The stock has a fifty day simple moving average of $4.57 and a 200 day simple moving average of $4.52.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings results on Wednesday, August 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.06. The company had revenue of $8.97 million during the quarter, compared to analysts’ expectations of $11.43 million. 2seventy bio had a negative return on equity of 66.01% and a negative net margin of 354.16%. Research analysts expect that 2seventy bio will post -0.79 earnings per share for the current fiscal year.

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.