2seventy bio, Inc. (NASDAQ:TSVT) Receives Average Recommendation of “Moderate Buy” from Brokerages

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have earned a consensus rating of “Moderate Buy” from the ten ratings firms that are presently covering the stock, MarketBeat reports. One investment analyst has rated the stock with a sell recommendation, four have issued a hold recommendation, four have assigned a buy recommendation and one has assigned a strong buy recommendation to the company. The average twelve-month price target among analysts that have issued a report on the stock in the last year is $11.43.

TSVT has been the subject of a number of research reports. Morgan Stanley reduced their price target on shares of 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating for the company in a report on Monday, July 29th. The Goldman Sachs Group downgraded 2seventy bio from a “neutral” rating to a “sell” rating and reduced their target price for the company from $5.00 to $2.00 in a research note on Thursday, June 6th. Wedbush reaffirmed a “neutral” rating and set a $5.00 price target on shares of 2seventy bio in a research note on Thursday, June 27th. Canaccord Genuity Group upgraded 2seventy bio to a “strong-buy” rating in a report on Thursday, May 9th. Finally, Canaccord Genuity Group lowered their target price on 2seventy bio from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th.

Institutional Investors Weigh In On 2seventy bio

Institutional investors and hedge funds have recently bought and sold shares of the stock. Nisa Investment Advisors LLC purchased a new stake in shares of 2seventy bio in the second quarter valued at about $52,000. Tower Research Capital LLC TRC increased its stake in 2seventy bio by 15.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock valued at $62,000 after buying an additional 1,925 shares during the last quarter. BBR Partners LLC lifted its position in shares of 2seventy bio by 66.7% during the 2nd quarter. BBR Partners LLC now owns 25,000 shares of the company’s stock worth $96,000 after buying an additional 10,000 shares in the last quarter. SG Americas Securities LLC increased its position in shares of 2seventy bio by 20.9% during the fourth quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock valued at $117,000 after acquiring an additional 4,715 shares during the last quarter. Finally, Public Employees Retirement System of Ohio lifted its holdings in 2seventy bio by 2,637.0% during the first quarter. Public Employees Retirement System of Ohio now owns 27,370 shares of the company’s stock worth $146,000 after acquiring an additional 26,370 shares during the period. 93.90% of the stock is owned by hedge funds and other institutional investors.

2seventy bio Stock Up 3.8 %

Shares of TSVT stock opened at $4.38 on Wednesday. The firm has a 50 day moving average of $4.20 and a 200-day moving average of $4.69. The company has a market cap of $225.57 million, a price-to-earnings ratio of -1.01 and a beta of 1.77. 2seventy bio has a 52 week low of $1.53 and a 52 week high of $6.79.

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.