Leerink Partnrs Downgrades 2seventy bio (NASDAQ:TSVT) to Hold

2seventy bio (NASDAQ:TSVT) was downgraded by research analysts at Leerink Partnrs from a “strong-buy” rating to a “hold” rating in a research note issued to investors on Tuesday,Zacks.com reports.

TSVT has been the subject of a number of other reports. Leerink Partners reissued a “market perform” rating and set a $5.00 price target (down from $9.00) on shares of 2seventy bio in a research note on Tuesday. Weiss Ratings reissued a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $6.83.

2seventy bio Price Performance

NASDAQ TSVT opened at $4.95 on Tuesday. The business has a 50-day moving average price of $2.64 and a 200-day moving average price of $3.68. 2seventy bio has a twelve month low of $2.29 and a twelve month 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.

Hedge Funds Weigh In On 2seventy bio

Institutional investors and hedge funds have recently modified their holdings of the stock. Toronto Dominion Bank bought a new stake in shares of 2seventy bio during the 4th quarter worth approximately $2,352,000. Western Standard LLC lifted its stake in shares of 2seventy bio by 175.7% during the 4th quarter. Western Standard LLC now owns 788,350 shares of the company’s stock worth $2,318,000 after acquiring an additional 502,419 shares during the last quarter. Stonepine Capital Management LLC lifted its stake in shares of 2seventy bio by 200.0% during the 4th quarter. Stonepine Capital Management LLC now owns 300,000 shares of the company’s stock worth $882,000 after acquiring an additional 200,000 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in shares of 2seventy bio during the 4th quarter worth approximately $913,000. Finally, ProShare Advisors LLC bought a new stake in shares of 2seventy bio during the 4th quarter worth approximately $48,000. Hedge funds and other 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.