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

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

TSVT has been the topic of a number of other reports. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. Finally, Leerink Partners reiterated a “market perform” rating and issued a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a research note on Tuesday. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, 2seventy bio presently has a consensus rating of “Hold” and a consensus target price of $6.67.

2seventy bio Price Performance

NASDAQ TSVT opened at $4.95 on Friday. 2seventy bio has a 1 year low of $2.29 and a 1 year high of $5.99. The stock has a market capitalization of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. The business’s 50-day moving average is $2.72 and its 200 day moving average is $3.70.

Insider Activity

In other news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 7.20% of the company’s stock.

Institutional Inflows and Outflows

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

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.