Morgan Stanley Cuts 2seventy bio (NASDAQ:TSVT) Price Target to $5.00

2seventy bio (NASDAQ:TSVT) had its target price decreased by Morgan Stanley from $6.00 to $5.00 in a research note published on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

A number of other research analysts also recently commented on TSVT. Leerink Partnrs downgraded 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Leerink Partners reiterated a “market perform” rating and set a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.67.

2seventy bio Price Performance

Shares of NASDAQ:TSVT opened at $4.95 on Friday. The company has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio has a fifty-two week low of $2.29 and a fifty-two week high of $5.99. The firm has a 50-day simple moving average of $2.76 and a 200 day simple moving average of $3.69.

Insider Transactions at 2seventy bio

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

Institutional Investors Weigh In On 2seventy bio

Institutional investors have recently added to or reduced their stakes in the company. Erste Asset Management GmbH acquired a new stake in shares of 2seventy bio during the 3rd quarter worth approximately $25,000. China Universal Asset Management Co. Ltd. acquired a new stake in 2seventy bio during the fourth quarter worth $32,000. BNP Paribas Financial Markets bought a new stake in 2seventy bio in the 4th quarter valued at $35,000. ProShare Advisors LLC acquired a new position in shares of 2seventy bio in the 4th quarter valued at $48,000. Finally, Raymond James Financial Inc. bought a new position in shares of 2seventy bio during the 4th quarter worth approximately $52,000. 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.