Weiss Ratings Reaffirms Sell (D-) Rating for 2seventy bio (NASDAQ:TSVT)

2seventy bio (NASDAQ:TSVT)‘s stock had its “sell (d-)” rating reissued by stock analysts at Weiss Ratings in a research note issued to investors on Wednesday,Weiss Ratings reports.

2seventy bio Trading Up 4.3 %

NASDAQ:TSVT opened at $2.68 on Wednesday. The firm has a market capitalization of $138.26 million, a PE ratio of -1.44 and a beta of 1.74. The stock has a 50 day moving average of $2.70 and a 200-day moving average of $3.84. 2seventy bio has a 52 week low of $2.29 and a 52 week high of $6.00.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently bought and sold shares of the company. Bank of America Corp DE increased its holdings in shares of 2seventy bio by 317.1% during the fourth quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock valued at $7,397,000 after purchasing an additional 1,912,771 shares during the period. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of 2seventy bio in the fourth quarter valued at $3,689,000. Toronto Dominion Bank acquired a new stake in shares of 2seventy bio in the fourth quarter valued at $2,352,000. Western Standard LLC boosted its stake in 2seventy bio by 175.7% during the fourth quarter. Western Standard LLC now owns 788,350 shares of the company’s stock valued at $2,318,000 after buying an additional 502,419 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new position in 2seventy bio during the fourth quarter worth about $913,000. 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.