2seventy bio (NASDAQ:TSVT – Get Free Report) had its price target increased by equities researchers at Citigroup from $9.00 to $12.00 in a research report issued to clients and investors on Monday, Benzinga reports. The brokerage currently has a “buy” rating on the stock. Citigroup’s target price would indicate a potential upside of 117.79% from the company’s current price.
Several other analysts also recently issued reports on TSVT. SVB Leerink upgraded 2seventy bio from a “market perform” rating to an “outperform” rating and increased their target price for the stock from $5.00 to $18.00 in a research report on Wednesday, January 31st. Leerink Partnrs upgraded 2seventy bio from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Wedbush restated a “neutral” rating and set a $5.00 price target on shares of 2seventy bio in a research note on Monday, March 18th. Finally, TD Cowen restated a “market perform” rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and three have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $13.17.
2seventy bio Stock Up 12.0 %
TSVT stock traded up $0.59 on Monday, reaching $5.51. 1,718,694 shares of the company’s stock were exchanged, compared to its average volume of 1,482,967. The stock has a fifty day moving average of $5.19 and a 200-day moving average of $3.91. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $12.69. The firm has a market cap of $282.72 million, a PE ratio of -1.25 and a beta of 1.84.
2seventy bio (NASDAQ:TSVT – Get Free Report) last posted its earnings results on Tuesday, March 5th. The company reported ($1.11) EPS for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.11. The company had revenue of $10.68 million for the quarter, compared to the consensus estimate of $13.91 million. 2seventy bio had a negative return on equity of 59.19% and a negative net margin of 216.73%. During the same period in the previous year, the business earned ($0.60) earnings per share. On average, equities research analysts predict that 2seventy bio will post -1.36 EPS for the current fiscal year.
Insider Buying and Selling at 2seventy bio
In other 2seventy bio news, Director Casdin Capital, Llc bought 300,000 shares of the business’s stock in a transaction on Thursday, March 21st. The shares were purchased at an average price of $4.90 per share, with a total value of $1,470,000.00. Following the purchase, the director now directly owns 1,482,623 shares of the company’s stock, valued at $7,264,852.70. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 2.60% of the stock is owned by company insiders.
Institutional Investors Weigh In On 2seventy bio
Institutional investors and hedge funds have recently modified their holdings of the stock. Vanguard Group Inc. grew its holdings in shares of 2seventy bio by 6.7% during the fourth quarter. Vanguard Group Inc. now owns 3,985,770 shares of the company’s stock valued at $17,019,000 after buying an additional 251,893 shares in the last quarter. Goldman Sachs Group Inc. grew its holdings in shares of 2seventy bio by 512.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after buying an additional 3,772,556 shares in the last quarter. Madison Avenue Partners LP grew its holdings in shares of 2seventy bio by 17.4% during the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock valued at $7,493,000 after buying an additional 260,663 shares in the last quarter. Barclays PLC grew its holdings in shares of 2seventy bio by 93.8% during the fourth quarter. Barclays PLC now owns 83,552 shares of the company’s stock valued at $356,000 after buying an additional 40,434 shares in the last quarter. Finally, Voya Investment Management LLC grew its stake in 2seventy bio by 22.9% in the fourth quarter. Voya Investment Management LLC now owns 61,413 shares of the company’s stock valued at $262,000 after purchasing an additional 11,439 shares in the last quarter. 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.