2seventy bio’s (TSVT) Neutral Rating Reaffirmed at Wedbush

Wedbush reaffirmed their neutral rating on shares of 2seventy bio (NASDAQ:TSVT) in a report issued on Thursday morning, Benzinga reports. They currently have a $5.00 price objective on the stock.

TSVT has been the subject of several other research reports. Canaccord Genuity Group cut their target price on shares of 2seventy bio from $12.00 to $11.00 and set a buy rating for the company in a research note on Thursday, May 9th. The Goldman Sachs Group downgraded shares of 2seventy bio from a neutral rating to a sell rating and cut their target price for the company from $5.00 to $2.00 in a research note on Thursday, June 6th. Citigroup boosted their target price on shares of 2seventy bio from $9.00 to $12.00 and gave the company a buy rating in a research note on Monday, April 8th. Finally, Canaccord Genuity Group raised shares of 2seventy bio to a strong-buy rating in a research note on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat, the stock presently has an average rating of Moderate Buy and an average target price of $12.43.

2seventy bio Stock Up 2.4 %

NASDAQ:TSVT opened at $3.85 on Thursday. The company has a market capitalization of $197.89 million, a PE ratio of -0.89 and a beta of 1.80. 2seventy bio has a 52-week low of $1.53 and a 52-week high of $11.29. The stock has a fifty day simple moving average of $4.32 and a 200-day simple moving average of $4.54.

2seventy bio (NASDAQ:TSVT) last announced its earnings results on Wednesday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.09). 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. The firm had revenue of $12.44 million during the quarter, compared to analyst estimates of $11.93 million. As a group, equities analysts anticipate that 2seventy bio will post -0.93 earnings per share for the current year.

Institutional Trading of 2seventy bio

A number of institutional investors have recently modified their holdings of TSVT. Goldman Sachs Group Inc. grew its holdings in shares of 2seventy bio by 512.4% during the 4th 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. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in shares of 2seventy bio during the 1st quarter worth about $9,291,000. Engine Capital Management LP grew its holdings in shares of 2seventy bio by 337.1% during the 4th quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock worth $6,381,000 after purchasing an additional 1,152,434 shares during the period. Kynam Capital Management LP grew its holdings in shares of 2seventy bio by 21.7% during the 3rd quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock worth $23,339,000 after purchasing an additional 1,063,119 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new stake in shares of 2seventy bio during the 1st quarter worth about $2,031,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

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.