Morgan Stanley Lowers 2seventy bio (NASDAQ:TSVT) Price Target to $5.00

2seventy bio (NASDAQ:TSVT) had its price target reduced by equities researchers at Morgan Stanley from $6.00 to $5.00 in a research report issued to clients and investors on Friday,Benzinga reports. The firm currently has an “equal weight” rating on the stock. Morgan Stanley’s price objective points to a potential upside of 1.01% from the stock’s previous close.

A number of other analysts also recently weighed in on TSVT. Leerink Partnrs downgraded 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. Finally, Leerink Partners reissued a “market perform” rating and issued a $5.00 price target (down from $9.00) on shares of 2seventy bio in a research note on Tuesday. One 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 assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $6.67.

2seventy bio Stock Performance

2seventy bio stock opened at $4.95 on Friday. The firm has a 50 day moving average price of $2.72 and a two-hundred day moving average price of $3.70. 2seventy bio has a 52-week low of $2.29 and a 52-week high of $5.99. The firm has a market cap of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73.

Insider Buying and Selling

In other news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On 2seventy bio

Several institutional investors and hedge funds have recently bought and sold shares of the company. Erste Asset Management GmbH purchased a new position in shares of 2seventy bio in the third quarter worth about $25,000. China Universal Asset Management Co. Ltd. bought a new stake in shares of 2seventy bio during the fourth quarter valued at about $32,000. BNP Paribas Financial Markets purchased a new stake in shares of 2seventy bio in the fourth quarter worth about $35,000. ProShare Advisors LLC purchased a new position in 2seventy bio during the fourth quarter valued at approximately $48,000. Finally, Raymond James Financial Inc. bought a new position in 2seventy bio in the 4th quarter worth about $52,000. 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.