2seventy bio, Inc. (NASDAQ:TSVT) Receives $9.00 Consensus Target Price from Analysts

2seventy bio, Inc. (NASDAQ:TSVT) has been assigned an average rating of “Moderate Buy” from the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have assigned a buy rating and one has issued a strong buy rating on the company. The average 1 year target price among brokerages that have issued a report on the stock in the last year is $9.00.

Separately, Morgan Stanley cut their price target on shares of 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th.

2seventy bio Price Performance

Shares of 2seventy bio stock opened at $4.85 on Monday. The firm has a 50 day simple moving average of $4.76 and a 200 day simple moving average of $4.53. 2seventy bio has a fifty-two week low of $1.53 and a fifty-two week high of $6.40. The firm has a market cap of $249.78 million, a P/E ratio of -1.58 and a beta of 1.77.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings data on Wednesday, August 7th. The company reported ($0.29) EPS for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. 2seventy bio had a negative return on equity of 66.01% and a negative net margin of 354.16%. The firm had revenue of $8.97 million during the quarter, compared to analyst estimates of $11.43 million. On average, sell-side analysts expect that 2seventy bio will post -1.23 EPS for the current year.

Insider Buying and Selling

In related news, insider Jessica Snow sold 7,816 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $4.32, for a total value of $33,765.12. Following the completion of the sale, the insider now directly owns 156,330 shares in the company, valued at approximately $675,345.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. 7.20% of the stock is owned by corporate insiders.

Institutional Inflows and Outflows

Large investors have recently bought and sold shares of the stock. Goldman Sachs Group Inc. grew its stake in shares of 2seventy bio by 512.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after acquiring an additional 3,772,556 shares in the last quarter. Susquehanna Fundamental Investments LLC acquired a new position in shares of 2seventy bio during the 1st quarter worth approximately $740,000. Healthcare of Ontario Pension Plan Trust Fund bought a new position in shares of 2seventy bio during the first quarter worth approximately $9,291,000. Price T Rowe Associates Inc. MD raised its position in shares of 2seventy bio by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock valued at $155,000 after buying an additional 2,893 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake in shares of 2seventy bio by 2,637.0% in the first quarter. Public Employees Retirement System of Ohio now owns 27,370 shares of the company’s stock valued at $146,000 after buying an additional 26,370 shares during the period. 93.90% of the stock is owned by institutional investors.

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.