2seventy bio (NASDAQ:TSVT) PT Lowered to $6.00 at Morgan Stanley

2seventy bio (NASDAQ:TSVT) had its price target decreased by research analysts at Morgan Stanley from $7.00 to $6.00 in a report released on Monday, Benzinga reports. The brokerage presently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 26.05% from the stock’s current price.

Several other equities analysts have also weighed in on the stock. Wedbush reaffirmed a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a report on Thursday, June 27th. The Goldman Sachs Group lowered shares of 2seventy bio from a “neutral” rating to a “sell” rating and cut their price target for the stock from $5.00 to $2.00 in a report on Thursday, June 6th. Canaccord Genuity Group decreased their price target on shares of 2seventy bio from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Citigroup upped their price target on 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Finally, Canaccord Genuity Group raised 2seventy bio to a “strong-buy” rating in a report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 2seventy bio has a consensus rating of “Moderate Buy” and an average price target of $11.43.

2seventy bio Trading Down 0.6 %

NASDAQ TSVT traded down $0.03 on Monday, hitting $4.76. 214,071 shares of the company’s stock traded hands, compared to its average volume of 998,758. The firm has a market capitalization of $244.66 million, a PE ratio of -1.09 and a beta of 1.76. 2seventy bio has a 1-year low of $1.53 and a 1-year high of $8.08. The firm’s 50-day moving average price is $4.20 and its two-hundred day moving average price is $4.60.

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

Institutional Trading of 2seventy bio

Hedge funds and other institutional investors have recently modified their holdings of the business. Nisa Investment Advisors LLC purchased a new position in 2seventy bio during the second quarter worth about $52,000. Tower Research Capital LLC TRC boosted its position in shares of 2seventy bio by 15.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock worth $62,000 after purchasing an additional 1,925 shares during the period. SG Americas Securities LLC boosted its position in shares of 2seventy bio by 20.9% during the 4th quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock worth $117,000 after purchasing an additional 4,715 shares during the period. Public Employees Retirement System of Ohio increased its holdings in 2seventy bio by 2,637.0% in the 1st quarter. Public Employees Retirement System of Ohio now owns 27,370 shares of the company’s stock valued at $146,000 after purchasing an additional 26,370 shares during the last quarter. Finally, Price T Rowe Associates Inc. MD raised its position in 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 purchasing an additional 2,893 shares during the period. 93.90% of the stock is owned by institutional investors and hedge funds.

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.