2seventy bio, Inc. (NASDAQ:TSVT) Given Consensus Recommendation of “Hold” by Brokerages

2seventy bio, Inc. (NASDAQ:TSVT) has received an average recommendation of “Hold” from the eight research firms that are covering the firm, Marketbeat Ratings reports. One equities research analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, two have assigned a buy recommendation and one has issued a strong buy recommendation on the company. The average 12-month price target among brokerages that have issued ratings on the stock in the last year is $6.67.

A number of analysts have recently issued reports on the stock. Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Leerink Partners reiterated a “market perform” rating and issued a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Finally, Morgan Stanley dropped their price objective 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.

2seventy bio Stock Performance

NASDAQ TSVT opened at $4.95 on Monday. The firm has a 50-day moving average of $2.76 and a 200-day moving average of $3.69. The stock has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio has a 52-week low of $2.29 and a 52-week high of $5.99.

Insider Activity

In other news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’s stock in a transaction that occurred 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 legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently made changes to their positions in the stock. Erste Asset Management GmbH bought a new stake in shares of 2seventy bio during the 3rd quarter valued at approximately $25,000. Northern Trust Corp grew its holdings in shares of 2seventy bio by 1.4% during the 4th quarter. Northern Trust Corp now owns 408,083 shares of the company’s stock valued at $1,200,000 after purchasing an additional 5,470 shares during the last quarter. Eversept Partners LP grew its holdings in shares of 2seventy bio by 0.6% during the 4th quarter. Eversept Partners LP now owns 1,003,678 shares of the company’s stock valued at $2,951,000 after purchasing an additional 5,599 shares during the last quarter. American Century Companies Inc. grew its holdings in shares of 2seventy bio by 6.6% during the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company’s stock valued at $275,000 after purchasing an additional 5,785 shares during the last quarter. Finally, Intech Investment Management LLC grew its holdings in shares of 2seventy bio by 41.1% during the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after purchasing an additional 6,030 shares during the last quarter. 93.90% of the stock is owned by 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.