2seventy bio (NASDAQ:TSVT) Cut to “Hold” at Leerink Partnrs

Leerink Partnrs cut shares of 2seventy bio (NASDAQ:TSVT) from a strong-buy rating to a hold rating in a research note published on Tuesday,Zacks.com reports.

TSVT has been the subject of a number of other research reports. Leerink Partners reaffirmed a “market perform” rating and set a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $6.83.

2seventy bio Stock Performance

Shares of NASDAQ TSVT opened at $4.95 on Tuesday. The company has a 50 day simple moving average of $2.68 and a two-hundred day simple moving average of $3.69. 2seventy bio has a fifty-two week low of $2.29 and a fifty-two week high of $5.99. The company has a market capitalization of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73.

Insider Transactions at 2seventy bio

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Company insiders own 7.20% of the company’s stock.

Hedge Funds Weigh In On 2seventy bio

Institutional investors have recently bought and sold shares of the stock. BBR Partners LLC increased its holdings 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 acquiring an additional 155,000 shares in the last quarter. Rhumbline Advisers raised its position in shares of 2seventy bio by 9.5% during the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock valued at $249,000 after purchasing an additional 7,379 shares during the period. Geode Capital Management LLC boosted its holdings in 2seventy bio by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock worth $5,553,000 after buying an additional 13,144 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of 2seventy bio during the third quarter worth about $64,000. Finally, FMR LLC raised its stake in 2seventy bio by 22.0% during the 3rd quarter. FMR LLC now owns 148,545 shares of the company’s stock valued at $701,000 after purchasing an additional 26,738 shares during the period. 93.90% of the stock is owned by institutional investors.

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.