Citigroup Increases 2seventy bio (NASDAQ:TSVT) Price Target to $12.00

2seventy bio (NASDAQ:TSVT) had its target price upped by Citigroup from $9.00 to $12.00 in a research report report published on Monday, Benzinga reports. They currently have a buy rating on the stock.

Several other research firms have also commented on TSVT. SVB Leerink raised shares of 2seventy bio from a market perform rating to an outperform rating and increased their target price for the company from $5.00 to $18.00 in a research note on Wednesday, January 31st. Wedbush reissued a neutral rating and set a $5.00 target price 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 note on Wednesday, January 31st. Finally, Leerink Partnrs raised shares of 2seventy bio from a market perform rating to an outperform rating in a research note on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat, 2seventy bio has an average rating of Hold and an average target price of $13.17.

2seventy bio Trading Up 5.5 %

Shares of NASDAQ:TSVT opened at $5.52 on Monday. The company has a 50 day moving average of $5.28 and a 200-day moving average of $3.97. The firm has a market cap of $283.23 million, a P/E ratio of -1.25 and a beta of 1.84. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $12.69.

2seventy bio (NASDAQ:TSVT) last issued 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 net margin of 216.73% and a negative return on equity of 59.19%. The company had revenue of $10.68 million during the quarter, compared to analyst estimates of $13.91 million. During the same period in the prior year, the business posted ($0.60) EPS. Equities research analysts forecast that 2seventy bio will post -1.36 EPS for the current year.

Insider Transactions at 2seventy bio

In related news, Director Casdin Capital, Llc purchased 330,000 shares of the company’s stock in a transaction dated Monday, March 25th. The shares were acquired at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the completion of the purchase, the director now owns 1,960,000 shares of the company’s stock, valued at approximately $9,937,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 2.60% of the stock is owned by insiders.

Institutional Investors Weigh In On 2seventy bio

Several large investors have recently made changes to their positions in TSVT. Exchange Traded Concepts LLC grew its position in 2seventy bio by 114.7% in the third quarter. Exchange Traded Concepts LLC now owns 25,838 shares of the company’s stock worth $101,000 after acquiring an additional 13,802 shares in the last quarter. Deutsche Bank AG boosted its holdings in 2seventy bio by 15.7% in the third quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock worth $102,000 after purchasing an additional 3,537 shares in the last quarter. Public Employees Retirement System of Ohio boosted its holdings in 2seventy bio by 112.6% in the third quarter. Public Employees Retirement System of Ohio now owns 84,757 shares of the company’s stock worth $332,000 after purchasing an additional 44,895 shares in the last quarter. Graham Capital Management L.P. boosted its holdings in 2seventy bio by 195.0% in the third quarter. Graham Capital Management L.P. now owns 75,891 shares of the company’s stock worth $297,000 after purchasing an additional 50,166 shares in the last quarter. Finally, Wellington Management Group LLP boosted its holdings in 2seventy bio by 4.0% in the third quarter. Wellington Management Group LLP now owns 2,994,471 shares of the company’s stock worth $11,738,000 after purchasing an additional 114,549 shares in the last quarter. 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.