Wedbush Reaffirms Neutral Rating for 2seventy bio (NASDAQ:TSVT)

Wedbush reissued their neutral rating on shares of 2seventy bio (NASDAQ:TSVT) in a research note released on Thursday morning, Benzinga reports. They currently have a $5.00 target price on the stock.

Several other analysts have also issued reports on TSVT. Canaccord Genuity Group reduced their price objective on shares of 2seventy bio from $12.00 to $11.00 and set a buy rating on the stock in a report on Thursday, May 9th. Citigroup boosted their price objective on shares of 2seventy bio from $9.00 to $12.00 and gave the company a buy rating in a report on Monday, April 8th. The Goldman Sachs Group lowered shares of 2seventy bio from a neutral rating to a sell rating and reduced their price objective for the company from $5.00 to $2.00 in a report on Thursday, June 6th. Finally, Canaccord Genuity Group upgraded shares of 2seventy bio to a strong-buy rating in a report on Thursday, May 9th. One analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $12.43.

2seventy bio Trading Up 2.4 %

Shares of TSVT stock opened at $3.85 on Thursday. The company’s 50-day moving average price is $4.32 and its 200-day moving average price is $4.54. The stock has a market cap of $197.89 million, a price-to-earnings ratio of -0.89 and a beta of 1.80. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $11.29.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings results on Wednesday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.09). The firm had revenue of $12.44 million for the quarter, compared to analyst estimates 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, equities research analysts predict that 2seventy bio will post -0.93 EPS for the current year.

Institutional Trading of 2seventy bio

A number of institutional investors and hedge funds have recently bought and sold shares of TSVT. Tower Research Capital LLC TRC increased its stake in shares of 2seventy bio by 15.2% during the fourth quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock worth $62,000 after buying an additional 1,925 shares during the period. ELCO Management Co. LLC purchased a new stake in shares of 2seventy bio during the third quarter worth approximately $67,000. Acadian Asset Management LLC purchased a new stake in shares of 2seventy bio during the third quarter worth approximately $89,000. Deutsche Bank AG increased its stake in shares of 2seventy bio by 15.7% during the third quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock worth $102,000 after buying an additional 3,537 shares during the period. Finally, SG Americas Securities LLC increased its stake in shares of 2seventy bio by 20.9% during the fourth quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock worth $117,000 after buying an additional 4,715 shares during the period. 93.90% of the stock is currently owned by hedge funds and other 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.