2seventy bio (NASDAQ:TSVT – Get Rating) was downgraded by Zacks Investment Research from a “hold” rating to a “sell” rating in a note issued to investors on Wednesday, Zacks.com reports.
According to Zacks, “2seventy bio Inc. is a cell and gene therapy company. It focuses on the research, development, and commercialization of treatments for cancer. 2seventy bio Inc. is based in Cambridge, Massachusetts. “
A number of other analysts have also recently weighed in on the stock. The Goldman Sachs Group assumed coverage on shares of 2seventy bio in a report on Monday, May 2nd. They issued a “buy” rating and a $26.00 price target on the stock. Morgan Stanley reduced their price target on 2seventy bio to $31.00 and set an “overweight” rating on the stock in a research report on Tuesday, May 17th. Finally, SVB Leerink began coverage on 2seventy bio in a report on Thursday, February 10th. They set an “outperform” rating and a $38.00 price objective for the company. One equities research analyst has rated the stock with a sell rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $32.83.
Shares of NASDAQ TSVT opened at $12.40 on Wednesday. The stock has a 50 day moving average price of $14.72 and a 200 day moving average price of $19.46. 2seventy bio has a 52-week low of $10.57 and a 52-week high of $64.00.
2seventy bio (NASDAQ:TSVT – Get Rating) last announced its quarterly earnings results on Thursday, May 12th. The company reported ($3.20) earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of ($1.73) by ($1.47). The company had revenue of $8.43 million during the quarter, compared to analysts’ expectations of $22.66 million. The business’s revenue for the quarter was down 29.2% compared to the same quarter last year. During the same period last year, the firm earned ($3.73) EPS. Analysts anticipate that 2seventy bio will post -8.9 EPS for the current year.
Hedge funds and other institutional investors have recently bought and sold shares of the business. Parametrica Management Ltd acquired a new stake in shares of 2seventy bio during the first quarter worth $252,000. GSA Capital Partners LLP acquired a new stake in 2seventy bio during the 1st quarter worth about $183,000. JPMorgan Chase & Co. purchased a new stake in 2seventy bio during the 1st quarter valued at about $8,237,000. Bank of New York Mellon Corp acquired a new position in shares of 2seventy bio in the first quarter valued at about $1,493,000. Finally, Group One Trading L.P. purchased a new position in shares of 2seventy bio in the first quarter worth about $69,000. 50.43% of the stock is owned by institutional investors and hedge funds.
About 2seventy bio (Get Rating)
2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. Its products pipeline includes idecabtagene vicleucel; ide-cel or Abecma and bb21217; and CAR-T cell product candidates for the treatment of multiple myeloma.