Weiss Ratings Reiterates “Sell (E+)” Rating for 2seventy bio (NASDAQ:TSVT)

2seventy bio (NASDAQ:TSVT)‘s stock had its “sell (e+)” rating reissued by equities researchers at Weiss Ratings in a research report issued to clients and investors on Saturday,Weiss Ratings reports.

Other analysts have also issued reports about the company. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Morgan Stanley lowered their price objective on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 2seventy bio presently has an average rating of “Hold” and a consensus price target of $6.67.

2seventy bio Price Performance

Shares of TSVT stock opened at $4.95 on Friday. The stock has a 50-day moving average price of $2.99 and a 200 day moving average price of $3.70. The firm has a market cap of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73. 2seventy bio has a 12 month low of $2.29 and a 12 month high of $5.99.

Insider Transactions at 2seventy bio

In other news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through the SEC website. Also, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $4.95, for a total value of $25,205.40. Following the transaction, the chief executive officer now owns 1,121,034 shares in the company, valued at $5,549,118.30. This trade represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is currently owned by company insiders.

Hedge Funds Weigh In On 2seventy bio

Several institutional investors have recently modified their holdings of TSVT. GSA Capital Partners LLP bought a new position in shares of 2seventy bio during the 3rd quarter valued at about $64,000. Intech Investment Management LLC bought a new position in shares of 2seventy bio during the 3rd quarter valued at about $69,000. FMR LLC lifted its holdings in shares of 2seventy bio by 22.0% during the 3rd quarter. FMR LLC now owns 148,545 shares of the company’s stock valued at $701,000 after purchasing an additional 26,738 shares in the last quarter. BBR Partners LLC lifted its stake in 2seventy bio by 620.0% in the 3rd quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock valued at $850,000 after acquiring an additional 155,000 shares in the last quarter. Finally, PDT Partners LLC bought a new stake in 2seventy bio in the 3rd quarter valued at approximately $244,000. 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.