2seventy bio (NASDAQ:TSVT) Downgraded to “Hold” Rating by Leerink Partnrs

2seventy bio (NASDAQ:TSVT) was downgraded by investment analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a research report issued to clients and investors on Tuesday,Zacks.com reports.

TSVT has been the topic of a number of other reports. Leerink Partners reiterated a “market perform” rating and issued a $5.00 price target (down from $9.00) on shares of 2seventy bio in a report on Tuesday. Weiss Ratings reiterated a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.83.

2seventy bio Price Performance

Shares of NASDAQ TSVT opened at $4.95 on Tuesday. The business has a fifty day simple moving average of $2.64 and a two-hundred day simple moving average of $3.68. 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 twelve month low of $2.29 and a twelve month high of $5.99.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSVT. GSA Capital Partners LLP purchased a new position in 2seventy bio during the 3rd quarter worth $64,000. Intech Investment Management LLC purchased a new stake in 2seventy bio during the 3rd quarter valued at about $69,000. FMR LLC grew its stake in 2seventy bio by 22.0% during the 3rd quarter. FMR LLC now owns 148,545 shares of the company’s stock valued at $701,000 after purchasing an additional 26,738 shares during the last quarter. BBR Partners LLC grew its stake in 2seventy bio by 620.0% during the 3rd quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock valued at $850,000 after purchasing an additional 155,000 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in 2seventy bio during the 3rd quarter valued at about $244,000. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

About 2seventy bio

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.