2seventy bio (NASDAQ:TSVT – Get Free Report) had its price objective dropped by investment analysts at Canaccord Genuity Group from $12.00 to $11.00 in a research note issued to investors on Thursday, Benzinga reports. The firm presently has a “buy” rating on the stock. Canaccord Genuity Group’s price objective would suggest a potential upside of 148.31% from the company’s previous close.
Other equities research analysts have also issued reports about the company. Leerink Partnrs raised 2seventy bio from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. SVB Leerink upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating and raised their price target for the stock from $5.00 to $18.00 in a research note on Wednesday, January 31st. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of 2seventy bio in a research note on Monday, March 18th. TD Cowen reissued a “market perform” rating on shares of 2seventy bio in a research report on Wednesday, January 31st. Finally, Citigroup upped their price target on 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, April 8th. Five equities research analysts have rated the stock with a hold rating and four have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $12.86.
View Our Latest Report on 2seventy bio
2seventy bio Stock Down 1.1 %
2seventy bio (NASDAQ:TSVT – Get Free Report) last posted its quarterly earnings results on Tuesday, March 5th. The company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.11. 2seventy bio had a negative return on equity of 59.19% and a negative net margin of 216.73%. The business had revenue of $10.68 million for the quarter, compared to the consensus estimate of $13.91 million. During the same period in the prior year, the business earned ($0.60) EPS. Analysts anticipate that 2seventy bio will post -1.39 EPS for the current year.
Insider Activity
In other news, Director Casdin Capital, Llc bought 300,000 shares of the stock in a transaction dated Thursday, March 21st. The stock was bought at an average price of $4.90 per share, for a total transaction of $1,470,000.00. Following the purchase, the director now directly owns 1,482,623 shares in the company, valued at approximately $7,264,852.70. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 2.60% of the company’s stock.
Institutional Investors Weigh In On 2seventy bio
A number of institutional investors and hedge funds have recently added to or reduced their stakes in TSVT. Tower Research Capital LLC TRC grew its holdings in 2seventy bio by 15.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock valued at $62,000 after buying an additional 1,925 shares in the last quarter. Deutsche Bank AG grew its position in shares of 2seventy bio by 15.7% during the third quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock valued at $102,000 after purchasing an additional 3,537 shares in the last quarter. SG Americas Securities LLC boosted its stake in 2seventy bio by 20.9% during the fourth quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock valued at $117,000 after buying an additional 4,715 shares during the last quarter. Exchange Traded Concepts LLC increased its stake in 2seventy bio by 34.0% in the 4th quarter. Exchange Traded Concepts LLC now owns 34,616 shares of the company’s stock worth $148,000 after acquiring an additional 8,778 shares during the last quarter. Finally, Brighton Jones LLC purchased a new stake in shares of 2seventy bio during the 3rd quarter worth approximately $60,000. Institutional investors own 93.90% of the company’s stock.
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.
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