Analysts Set 2seventy bio, Inc. (NASDAQ:TSVT) Target Price at $9.00

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have received an average rating of “Moderate Buy” from the nine research firms that are presently covering the stock, MarketBeat.com reports. One investment analyst has rated the stock with a sell recommendation, three have assigned a hold recommendation, four have issued a buy recommendation and one has given a strong buy recommendation to the company. The average twelve-month price target among analysts that have covered the stock in the last year is $9.00.

Several research firms recently commented on TSVT. Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research note on Thursday, June 27th. Morgan Stanley dropped their price target on 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th.

Insider Activity

In other 2seventy bio news, insider Jessica Snow sold 7,816 shares of 2seventy bio stock in a transaction that occurred on Wednesday, August 14th. The shares were sold at an average price of $4.32, for a total transaction 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 trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Corporate insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. SkyView Investment Advisors LLC increased its stake in shares of 2seventy bio by 25.0% in the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the company’s stock valued at $48,000 after purchasing an additional 2,500 shares in the last quarter. Nisa Investment Advisors LLC purchased a new stake in shares of 2seventy bio in the second quarter valued at approximately $52,000. SG Americas Securities LLC acquired a new position in shares of 2seventy bio during the 3rd quarter worth approximately $80,000. BBR Partners LLC raised its position in 2seventy bio by 66.7% during the second quarter. BBR Partners LLC now owns 25,000 shares of the company’s stock worth $96,000 after acquiring an additional 10,000 shares during the period. Finally, Public Employees Retirement System of Ohio lifted its holdings in 2seventy bio by 2,637.0% during 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. 93.90% of the stock is owned by institutional investors and hedge funds.

2seventy bio Stock Performance

NASDAQ TSVT opened at $5.06 on Monday. The company has a market cap of $260.11 million, a PE ratio of -1.16 and a beta of 1.77. The firm’s 50 day moving average price is $4.75 and its 200-day moving average price is $4.53. 2seventy bio has a 52-week low of $1.53 and a 52-week high of $6.40.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. 2seventy bio had a negative return on equity of 66.01% and a negative net margin of 354.16%. The firm had revenue of $8.97 million during the quarter, compared to analysts’ expectations of $11.43 million. On average, analysts forecast that 2seventy bio will post -1.23 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.