Brokerages Set 2seventy bio, Inc. (NASDAQ:TSVT) Target Price at $12.43

Shares of 2seventy bio, Inc. (NASDAQ:TSVT) have been given a consensus rating of “Moderate Buy” by the ten brokerages that are presently covering the firm, Marketbeat.com reports. One analyst has rated the stock with a sell rating, four have issued a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. The average 12-month price target among brokers that have updated their coverage on the stock in the last year is $12.43.

TSVT has been the subject of a number of research reports. The Goldman Sachs Group downgraded 2seventy bio from a “neutral” rating to a “sell” rating and lowered their price target for the company from $5.00 to $2.00 in a research report on Thursday, June 6th. Citigroup boosted their price target on 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a research note on Monday, April 8th. Canaccord Genuity Group raised 2seventy bio to a “strong-buy” rating in a report on Thursday, May 9th. Canaccord Genuity Group lowered their target price on 2seventy bio from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Finally, Wedbush reissued a “neutral” rating and issued a $5.00 price objective on shares of 2seventy bio in a report on Thursday, June 27th.

Institutional Investors Weigh In On 2seventy bio

Institutional investors have recently added to or reduced their stakes in the company. Madison Avenue Partners LP lifted its position in 2seventy bio by 17.4% in the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after purchasing an additional 260,663 shares during the period. Deutsche Bank AG lifted its position in 2seventy bio by 15.7% in the third quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock worth $102,000 after purchasing an additional 3,537 shares during the period. Goldman Sachs Group Inc. lifted its position in 2seventy bio by 512.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock worth $19,253,000 after purchasing an additional 3,772,556 shares during the period. Public Employees Retirement System of Ohio lifted its position in 2seventy bio by 112.6% in the third quarter. Public Employees Retirement System of Ohio now owns 84,757 shares of the company’s stock worth $332,000 after purchasing an additional 44,895 shares during the period. Finally, Graham Capital Management L.P. lifted its position in shares of 2seventy bio by 195.0% during the 3rd quarter. Graham Capital Management L.P. now owns 75,891 shares of the company’s stock valued at $297,000 after acquiring an additional 50,166 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

2seventy bio Stock Down 2.9 %

Shares of NASDAQ:TSVT opened at $4.77 on Friday. The company has a market cap of $245.18 million, a P/E ratio of -1.10 and a beta of 1.76. 2seventy bio has a 52 week low of $1.53 and a 52 week high of $10.89. The business has a fifty day simple moving average of $4.21 and a 200-day simple moving average of $4.57.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings data on Wednesday, May 8th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates 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%. Sell-side analysts expect that 2seventy bio will post -0.93 earnings per share for the current fiscal year.

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.