Brokerages Set 2seventy bio, Inc. (NASDAQ:TSVT) Price Target at $13.17

2seventy bio, Inc. (NASDAQ:TSVT) has been given an average rating of “Hold” by the eight analysts that are presently covering the stock, Marketbeat reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 12 month price target among brokerages that have updated their coverage on the stock in the last year is $13.17.

Several equities analysts recently commented on the company. TD Cowen restated a “market perform” rating on shares of 2seventy bio in a research report on Wednesday, January 31st. Citigroup upped their price objective on shares of 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a research report on Monday, April 8th. Leerink Partnrs raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. SVB Leerink raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating and boosted their price target for the stock from $5.00 to $18.00 in a research note on Wednesday, January 31st. Finally, Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research report on Monday, March 18th.

Insider Activity

In other 2seventy bio news, Director Casdin Capital, Llc purchased 300,000 shares of the business’s stock in a transaction on Thursday, March 21st. The stock was acquired at an average cost of $4.90 per share, for a total transaction of $1,470,000.00. Following the completion of the transaction, the director now directly owns 1,482,623 shares in the company, valued at approximately $7,264,852.70. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 2.60% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Institutional investors and hedge funds have recently made changes to their positions in the company. Exchange Traded Concepts LLC raised its holdings in 2seventy bio by 114.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 25,838 shares of the company’s stock valued at $101,000 after buying an additional 13,802 shares during the last quarter. Deutsche Bank AG boosted its holdings in shares of 2seventy bio by 15.7% during the third quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock worth $102,000 after purchasing an additional 3,537 shares during the period. Public Employees Retirement System of Ohio grew its stake in shares of 2seventy bio by 112.6% in the third quarter. Public Employees Retirement System of Ohio now owns 84,757 shares of the company’s stock worth $332,000 after purchasing an additional 44,895 shares during the last quarter. Graham Capital Management L.P. increased its holdings in 2seventy bio by 195.0% during the 3rd quarter. Graham Capital Management L.P. now owns 75,891 shares of the company’s stock valued at $297,000 after purchasing an additional 50,166 shares during the period. Finally, Wellington Management Group LLP raised its position in 2seventy bio by 4.0% during the 3rd quarter. Wellington Management Group LLP now owns 2,994,471 shares of the company’s stock valued at $11,738,000 after purchasing an additional 114,549 shares during the last quarter. Institutional investors own 93.90% of the company’s stock.

2seventy bio Trading Down 3.4 %

TSVT opened at $4.76 on Monday. 2seventy bio has a 12 month low of $1.53 and a 12 month high of $12.69. The company has a 50 day moving average of $4.95 and a 200 day moving average of $4.04. The company has a market cap of $244.66 million, a PE ratio of -1.08 and a beta of 1.87.

2seventy bio (NASDAQ:TSVT) last posted its earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.11. 2seventy bio had a negative net margin of 216.73% and a negative return on equity of 59.19%. The business had revenue of $10.68 million for the quarter, compared to analyst estimates of $13.91 million. During the same quarter in the prior year, the firm posted ($0.60) EPS. Research analysts forecast that 2seventy bio will post -1.39 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.