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

2seventy bio (NASDAQ:TSVT) had its price objective decreased by Morgan Stanley from $6.00 to $5.00 in a research note released on Friday,Benzinga reports. Morgan Stanley currently has an equal weight rating on the stock.

TSVT has been the topic of several other research reports. Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Leerink Partners reaffirmed a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.67.

2seventy bio Stock Performance

TSVT opened at $4.95 on Friday. The company has a fifty day moving average price of $2.76 and a two-hundred day moving average price of $3.69. The firm has a market capitalization of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio has a 52 week low of $2.29 and a 52 week high of $5.99.

Insider Transactions at 2seventy bio

In other 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 transaction of $25,350,607.23. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 7.20% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently added to or reduced their stakes in TSVT. Erste Asset Management GmbH bought a new position in 2seventy bio in the 3rd quarter valued at about $25,000. China Universal Asset Management Co. Ltd. acquired a new position in 2seventy bio during the fourth quarter valued at approximately $32,000. Readystate Asset Management LP bought a new stake in 2seventy bio during the third quarter worth $53,000. BNP Paribas Financial Markets acquired a new position in shares of 2seventy bio during the 4th quarter worth $35,000. Finally, GSA Capital Partners LLP acquired a new stake in 2seventy bio in the third quarter valued at about $64,000. 93.90% of the stock is owned by institutional investors and hedge funds.

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.