2seventy bio (NASDAQ:TSVT) Downgraded to “Sell” at The Goldman Sachs Group

The Goldman Sachs Group lowered shares of 2seventy bio (NASDAQ:TSVTFree Report) from a neutral rating to a sell rating in a report released on Thursday morning, MarketBeat reports. The Goldman Sachs Group currently has $2.00 target price on the stock, down from their previous target price of $5.00.

Several other research firms have also commented on TSVT. Canaccord Genuity Group decreased their price objective 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. Canaccord Genuity Group upgraded shares of 2seventy bio to a strong-buy rating in a research note on Thursday, May 9th. Citigroup raised their price target on shares of 2seventy bio from $9.00 to $12.00 and gave the stock a buy rating in a research note on Monday, April 8th. Finally, Wedbush restated a neutral rating and set a $5.00 price target on shares of 2seventy bio in a research note on Monday, March 18th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of Moderate Buy and an average price target of $12.43.

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2seventy bio Stock Performance

NASDAQ:TSVT opened at $4.13 on Thursday. The firm has a market cap of $212.28 million, a price-to-earnings ratio of -0.95 and a beta of 1.80. 2seventy bio has a 52 week low of $1.53 and a 52 week high of $12.69. The firm has a 50-day moving average price of $4.71 and a two-hundred day moving average price of $4.33.

2seventy bio (NASDAQ:TSVTGet Free Report) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.81) EPS for the quarter, missing the consensus estimate of ($0.72) by ($0.09). The firm had revenue of $12.44 million during the quarter, compared to analysts’ expectations of $11.93 million. 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. As a group, sell-side analysts forecast that 2seventy bio will post -0.93 earnings per share for the current year.

Insider Buying and Selling

In other 2seventy bio news, Director Casdin Capital, Llc acquired 330,000 shares of the business’s stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the acquisition, the director now owns 1,960,000 shares in the company, valued at $9,937,200. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In the last ninety days, insiders sold 1,831 shares of company stock valued at $7,665. Company insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

Several large investors have recently bought and sold shares of the company. Kynam Capital Management LP boosted its holdings in 2seventy bio by 21.7% in the 3rd quarter. Kynam Capital Management LP now owns 5,953,825 shares of the company’s stock valued at $23,339,000 after purchasing an additional 1,063,119 shares during the period. Goldman Sachs Group Inc. boosted its holdings in 2seventy bio by 512.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after purchasing an additional 3,772,556 shares during the period. Newtyn Management LLC boosted its holdings in 2seventy bio by 317.0% in the 3rd 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 period. Wellington Management Group LLP boosted its holdings in 2seventy bio by 4.0% in the 3rd quarter. Wellington Management Group LLP now owns 2,994,471 shares of the company’s stock valued at $11,738,000 after purchasing an additional 114,549 shares during the period. Finally, Madison Avenue Partners LP boosted its holdings in 2seventy bio by 17.4% in the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock valued at $7,493,000 after purchasing an additional 260,663 shares during the period. 93.90% of the stock is owned by institutional investors.

About 2seventy bio

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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.

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