2seventy bio, Inc. (NASDAQ:TSVT) Receives $13.17 Average Target Price from Brokerages

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have received an average rating of “Hold” from the eight research firms that are currently covering the stock, MarketBeat reports. Five research analysts have rated the stock with a hold recommendation and three have given a buy recommendation to the company. The average 1-year price target among brokers that have issued ratings on the stock in the last year is $13.17.

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

2seventy bio Stock Performance

NASDAQ TSVT opened at $4.60 on Monday. The company has a market capitalization of $236.46 million, a PE ratio of -1.04 and a beta of 1.84. 2seventy bio has a 52-week low of $1.53 and a 52-week high of $12.69. The company has a 50-day simple moving average of $4.97 and a 200 day simple moving average of $4.03.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $10.68 million during the quarter, compared to analyst estimates of $13.91 million. During the same quarter last year, the business posted ($0.60) EPS. As a group, analysts forecast that 2seventy bio will post -1.39 EPS for the current fiscal year.

Insider Buying and Selling

In other news, Director Casdin Capital, Llc purchased 330,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was purchased at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the acquisition, the director now directly owns 1,960,000 shares in the company, valued at $9,937,200. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. 2.60% of the stock is currently owned by insiders.

Institutional Trading of 2seventy bio

Institutional investors and hedge funds have recently modified their holdings of the business. Goldman Sachs Group Inc. grew 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 in the last quarter. Newtyn Management LLC lifted its position in 2seventy bio by 317.0% during the third quarter. Newtyn Management LLC now owns 3,076,490 shares of the company’s stock valued at $12,060,000 after purchasing an additional 2,338,746 shares during the last quarter. Engine Capital Management LP grew its stake in 2seventy bio by 337.1% in the 4th quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock worth $6,381,000 after buying an additional 1,152,434 shares in the last quarter. Kynam Capital Management LP increased its holdings in shares of 2seventy bio by 21.7% in the 3rd quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock worth $23,339,000 after buying an additional 1,063,119 shares during the last quarter. Finally, Madison Avenue Partners LP increased its holdings in shares of 2seventy bio by 17.4% in the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after buying an additional 260,663 shares during the last quarter. 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.