2seventy bio (NASDAQ:TSVT) Lowered to Hold Rating by Leerink Partnrs

Leerink Partnrs cut shares of 2seventy bio (NASDAQ:TSVT) from a strong-buy rating to a hold rating in a research note issued to investors on Tuesday morning,Zacks.com reports.

Other equities research analysts have also issued reports about the company. Leerink Partners restated a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research note on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $6.83.

2seventy bio Stock Performance

Shares of TSVT opened at $4.95 on Tuesday. The firm has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio has a 1-year low of $2.29 and a 1-year high of $5.99. The firm has a fifty day simple moving average of $2.64 and a two-hundred day simple moving average of $3.68.

Institutional Inflows and Outflows

Several hedge funds have recently bought and sold shares of TSVT. Erste Asset Management GmbH bought a new position in 2seventy bio in the 3rd quarter worth $25,000. China Universal Asset Management Co. Ltd. bought a new position in 2seventy bio in the 4th quarter worth $32,000. BNP Paribas Financial Markets bought a new position in 2seventy bio in the 4th quarter worth $35,000. ProShare Advisors LLC bought a new position in 2seventy bio in the 4th quarter worth $48,000. Finally, Raymond James Financial Inc. bought a new position in 2seventy bio in the 4th quarter worth $52,000. 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.