Brokerages Set 2seventy bio, Inc. (NASDAQ:TSVT) Price Target at $12.86

2seventy bio, Inc. (NASDAQ:TSVTGet Free Report) has been assigned a consensus recommendation of “Moderate Buy” from the ten research firms that are currently covering the stock, MarketBeat.com reports. Five equities research analysts have rated the stock with a hold recommendation, four have given a buy recommendation and one has given a strong buy recommendation to the company. The average 1 year price target among analysts that have covered the stock in the last year is $12.86.

A number of analysts recently weighed in on TSVT shares. Canaccord Genuity Group raised shares of 2seventy bio to a “strong-buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group decreased their price target on shares of 2seventy bio from $12.00 to $11.00 and set a “buy” rating for the company in a research report on Thursday, May 9th. Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of 2seventy bio in a research report on Monday, March 18th. Finally, Citigroup increased their price target on shares of 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, April 8th.

Check Out Our Latest Stock Analysis on TSVT

Insider Activity

In related news, Director Casdin Capital, Llc acquired 330,000 shares of the business’s stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $5.07 per share, for a total transaction of $1,673,100.00. Following the completion of the acquisition, the director now directly owns 1,960,000 shares in the company, valued at approximately $9,937,200. The transaction was disclosed in a document filed with the SEC, which is available through this link. Corporate insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

Hedge funds have recently modified their holdings of the stock. Jacobs Levy Equity Management Inc. purchased a new position in shares of 2seventy bio during the 1st quarter valued at approximately $2,031,000. Public Employees Retirement System of Ohio increased its position in shares of 2seventy bio by 2,637.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 27,370 shares of the company’s stock worth $146,000 after purchasing an additional 26,370 shares during the last quarter. Price T Rowe Associates Inc. MD grew its position in 2seventy bio by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock valued at $155,000 after acquiring an additional 2,893 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund acquired a new position in shares of 2seventy bio during the first quarter worth about $9,291,000. Finally, Susquehanna Fundamental Investments LLC purchased a new stake in 2seventy bio during the first quarter worth approximately $740,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

2seventy bio Price Performance

NASDAQ:TSVT opened at $4.36 on Friday. 2seventy bio has a 1-year low of $1.53 and a 1-year high of $12.69. The company has a 50-day moving average of $4.81 and a 200 day moving average of $4.26. The firm has a market cap of $224.10 million, a PE ratio of -1.00 and a beta of 1.87.

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

2seventy bio Company Profile

(Get Free Report

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.

See Also

Analyst Recommendations for 2seventy bio (NASDAQ:TSVT)

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