Weiss Ratings Reaffirms “Sell (E+)” Rating for 2seventy bio (NASDAQ:TSVT)

2seventy bio (NASDAQ:TSVT)‘s stock had its “sell (e+)” rating reaffirmed by stock analysts at Weiss Ratings in a research note issued to investors on Saturday,Weiss Ratings reports.

Several other research analysts have also weighed in on TSVT. Morgan Stanley lowered their price target on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research report on Friday, March 14th. Leerink Partners reaffirmed a “market perform” rating and set a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat.com, 2seventy bio has an average rating of “Hold” and a consensus target price of $6.67.

2seventy bio Stock Performance

NASDAQ TSVT opened at $4.95 on Friday. The stock has a market capitalization of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73. The stock’s 50 day moving average price is $2.99 and its two-hundred day moving average price is $3.70. 2seventy bio has a 52 week low of $2.29 and a 52 week high of $5.99.

Insider Buying and Selling

In related news, CEO William D. Baird III sold 5,092 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the transaction, the chief executive officer now directly owns 1,121,034 shares of the company’s stock, valued at approximately $5,549,118.30. The trade was a 0.45 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’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 disclosure for this sale can be found here. In the last three months, insiders have sold 5,152,093 shares of company stock valued at $25,400,018. 7.20% of the stock is owned by insiders.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently added to or reduced their stakes in the company. Toronto Dominion Bank acquired a new position in 2seventy bio in the 4th quarter valued at $2,352,000. Western Standard LLC grew its holdings in 2seventy bio by 175.7% in the 4th quarter. Western Standard LLC now owns 788,350 shares of the company’s stock valued at $2,318,000 after buying an additional 502,419 shares in the last quarter. Stonepine Capital Management LLC grew its holdings in 2seventy bio by 200.0% in the 4th quarter. Stonepine Capital Management LLC now owns 300,000 shares of the company’s stock valued at $882,000 after buying an additional 200,000 shares in the last quarter. Point72 Asset Management L.P. acquired a new position in 2seventy bio in the 4th quarter valued at $913,000. Finally, ProShare Advisors LLC acquired a new position in 2seventy bio in the 4th quarter valued at $48,000. 93.90% of the stock is owned by institutional investors and hedge funds.

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.