2seventy bio (NASDAQ:TSVT) Given Sell (D-) Rating at Weiss Ratings

Weiss Ratings reiterated their sell (d-) rating on shares of 2seventy bio (NASDAQ:TSVT) in a research note released on Saturday morning,Weiss Ratings reports.

Several other analysts have also issued reports on the stock. Leerink Partners restated a “market perform” rating and issued a $5.00 price target (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Leerink Partnrs downgraded 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley cut their price target on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. One research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $4.25.

2seventy bio Stock Down 0.2 %

Shares of NASDAQ:TSVT opened at $4.99 on Friday. The company has a market cap of $265.62 million, a price-to-earnings ratio of -2.68 and a beta of 1.04. The business has a 50 day moving average price of $4.79 and a 200 day moving average price of $3.76. 2seventy bio has a twelve month low of $2.29 and a twelve month high of $5.30.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.11. The company had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $13.96 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. Analysts anticipate that 2seventy bio will post -1.46 EPS for the current year.

Insider Activity at 2seventy bio

In other news, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction that occurred 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 sale, the chief executive officer now directly owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The disclosure for this sale can be found here. Insiders have sold a total of 5,152,093 shares of company stock valued at $25,400,018 over the last quarter. 7.20% of the stock is owned by company insiders.

Hedge Funds Weigh In On 2seventy bio

Institutional investors have recently added to or reduced their stakes in the company. ABC Arbitrage SA bought a new position in shares of 2seventy bio in the first quarter valued at approximately $992,000. Concurrent Investment Advisors LLC bought a new position in 2seventy bio in the 1st quarter valued at $88,000. Toronto Dominion Bank bought a new position in 2seventy bio in the 4th quarter valued at $2,352,000. Western Standard LLC boosted its stake in 2seventy bio by 175.7% in the fourth quarter. Western Standard LLC now owns 788,350 shares of the company’s stock worth $2,318,000 after purchasing an additional 502,419 shares in the last quarter. Finally, Stonepine Capital Management LLC grew its holdings in shares of 2seventy bio by 200.0% during the fourth quarter. Stonepine Capital Management LLC now owns 300,000 shares of the company’s stock worth $882,000 after purchasing an additional 200,000 shares during the last quarter. 93.90% of the stock is owned by institutional investors.

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.