2seventy bio, Inc. (NASDAQ:TSVT) Receives $13.17 Average PT from Analysts

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have been given a consensus recommendation of “Hold” by the eight research firms that are currently covering the firm, MarketBeat Ratings reports. Five research analysts have rated the stock with a hold recommendation and three have issued a buy recommendation on the company. The average 1-year price objective among analysts that have issued a report on the stock in the last year is $13.17.

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

Insider Activity

In other news, Director Casdin Capital, Llc acquired 330,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the completion of the acquisition, the director now owns 1,960,000 shares of the company’s stock, valued at $9,937,200. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 2.60% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

Several large investors have recently modified their holdings of the company. Kynam Capital Management LP boosted its holdings in shares of 2seventy bio by 21.7% in the third quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock valued at $23,339,000 after acquiring an additional 1,063,119 shares during the period. Goldman Sachs Group Inc. lifted its holdings in shares of 2seventy bio by 512.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock worth $19,253,000 after purchasing an additional 3,772,556 shares during the period. Newtyn Management LLC lifted its holdings in shares of 2seventy bio by 317.0% during the third quarter. Newtyn Management LLC now owns 3,076,490 shares of the company’s stock worth $12,060,000 after purchasing an additional 2,338,746 shares during the period. Wellington Management Group LLP lifted its holdings in shares of 2seventy bio by 4.0% during the third quarter. Wellington Management Group LLP now owns 2,994,471 shares of the company’s stock worth $11,738,000 after purchasing an additional 114,549 shares during the period. Finally, Madison Avenue Partners LP lifted its holdings in shares of 2seventy bio by 17.4% during the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after purchasing an additional 260,663 shares during the period. 93.90% of the stock is owned by institutional investors and hedge funds.

2seventy bio Price Performance

Shares of NASDAQ:TSVT opened at $4.76 on Monday. The firm has a market capitalization of $244.66 million, a PE ratio of -1.08 and a beta of 1.87. The firm’s 50-day moving average is $4.95 and its two-hundred day moving average is $4.04. 2seventy bio has a 1 year low of $1.53 and a 1 year high of $12.69.

2seventy bio (NASDAQ:TSVT) last released 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 firm had revenue of $10.68 million for the quarter, compared to analyst estimates of $13.91 million. During the same period in the prior year, the firm earned ($0.60) earnings per share. Analysts expect that 2seventy bio will post -1.39 EPS for the current fiscal year.

About 2seventy bio

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.