Brokerages Set 2seventy bio, Inc. (NASDAQ:TSVT) PT at $9.00

2seventy bio, Inc. (NASDAQ:TSVT) has been given a consensus rating of “Moderate Buy” by the nine ratings firms that are covering the stock, Marketbeat Ratings reports. One research analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the company. The average 12-month target price among brokers that have updated their coverage on the stock in the last year is $9.00.

Separately, Weiss Ratings reiterated a “sell (e+)” rating on shares of 2seventy bio in a research report on Saturday.

Institutional Investors Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently made changes to their positions in TSVT. Western Standard LLC bought a new position in 2seventy bio during the third quarter worth about $1,350,000. Marshall Wace LLP raised its position in 2seventy bio by 50.4% in the 2nd quarter. Marshall Wace LLP now owns 667,023 shares of the company’s stock worth $2,568,000 after purchasing an additional 223,408 shares during the last quarter. BBR Partners LLC raised its position in 2seventy bio by 620.0% in the 3rd quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock worth $850,000 after purchasing an additional 155,000 shares during the last quarter. Stonepine Capital Management LLC bought a new position in 2seventy bio in the 2nd quarter worth approximately $385,000. Finally, Susquehanna Fundamental Investments LLC grew its holdings in 2seventy bio by 39.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 192,319 shares of the company’s stock worth $740,000 after acquiring an additional 54,076 shares during the period. 93.90% of the stock is owned by institutional investors and hedge funds.

2seventy bio Price Performance

Shares of NASDAQ TSVT opened at $2.45 on Friday. 2seventy bio has a 1-year low of $2.35 and a 1-year high of $6.40. The business has a 50-day moving average of $3.24 and a 200-day moving average of $4.14. The company has a market capitalization of $126.40 million, a price-to-earnings ratio of -1.32 and a beta of 1.76.

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.