2seventy bio’s (TSVT) Sell (D-) Rating Reiterated at Weiss Ratings

Weiss Ratings reaffirmed their sell (d-) rating on shares of 2seventy bio (NASDAQ:TSVT) in a research note issued to investors on Tuesday morning,Weiss Ratings reports.

A number of other brokerages have also recently commented on TSVT. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. 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, March 14th. Finally, Leerink Partners reissued a “market perform” rating and issued a $5.00 target price (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, 2seventy bio presently has an average rating of “Hold” and a consensus price target of $5.60.

2seventy bio Stock Performance

NASDAQ:TSVT opened at $4.96 on Tuesday. The stock has a market capitalization of $259.60 million, a PE ratio of -2.67 and a beta of 1.04. 2seventy bio has a fifty-two week low of $2.29 and a fifty-two week high of $5.52. The company has a fifty day moving average of $3.76 and a two-hundred day moving average of $3.74.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings results on Tuesday, March 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08). 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The firm had revenue of $2.93 million during the quarter, compared to analyst estimates of $12.84 million. Research analysts forecast that 2seventy bio will post -1.46 earnings per share for the current year.

Insiders Place Their Bets

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO William D. Baird III sold 5,092 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the transaction, the chief executive officer now owns 1,121,034 shares of the company’s stock, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 5,152,093 shares of company stock valued at $25,400,018 over the last ninety days. Company insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

A number of institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE lifted its holdings in shares of 2seventy bio by 317.1% in the 4th quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock worth $7,397,000 after acquiring an additional 1,912,771 shares during the last quarter. Regeneron Pharmaceuticals Inc. acquired a new position in 2seventy bio during the fourth quarter worth $3,689,000. Geode Capital Management LLC lifted its stake in 2seventy bio by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock worth $5,553,000 after purchasing an additional 13,144 shares in the last quarter. State Street Corp boosted its position in shares of 2seventy bio by 1.5% during the third quarter. State Street Corp now owns 1,058,773 shares of the company’s stock worth $4,997,000 after buying an additional 15,638 shares during the period. Finally, Eversept Partners LP grew its stake in shares of 2seventy bio by 0.6% in the fourth quarter. Eversept Partners LP now owns 1,003,678 shares of the company’s stock valued at $2,951,000 after buying an additional 5,599 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.