2seventy bio’s (TSVT) Market Perform Rating Reiterated at Leerink Partners

Leerink Partners reissued their market perform rating on shares of 2seventy bio (NASDAQ:TSVT) in a report published on Tuesday morning,Benzinga reports. The firm currently has a $5.00 price target on the stock, down from their previous price target of $9.00.

Separately, Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $6.83.

2seventy bio Stock Performance

Shares of TSVT opened at $4.95 on Tuesday. 2seventy bio has a 12 month low of $2.29 and a 12 month high of $5.99. The firm has a fifty day simple moving average of $2.68 and a 200 day simple moving average of $3.69. The stock has a market capitalization of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73.

Insiders Place Their Bets

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Insiders own 7.20% of the company’s stock.

Institutional Trading of 2seventy bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSVT. Erste Asset Management GmbH bought a new position in shares of 2seventy bio in the third quarter valued at about $25,000. Northern Trust Corp raised its position in shares of 2seventy bio by 1.4% in the fourth quarter. Northern Trust Corp now owns 408,083 shares of the company’s stock valued at $1,200,000 after purchasing an additional 5,470 shares during the period. Eversept Partners LP raised its position in shares of 2seventy bio by 0.6% in the fourth quarter. Eversept Partners LP now owns 1,003,678 shares of the company’s stock valued at $2,951,000 after purchasing an additional 5,599 shares during the period. American Century Companies Inc. raised its position in shares of 2seventy bio by 6.6% in the fourth quarter. American Century Companies Inc. now owns 93,552 shares of the company’s stock valued at $275,000 after purchasing an additional 5,785 shares during the period. Finally, Intech Investment Management LLC raised its position in shares of 2seventy bio by 41.1% in the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after purchasing an additional 6,030 shares during the period. 93.90% of the stock is owned by 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.