Leerink Partners lifts 2seventy bio Inc [TSVT] price estimate. Who else is bullish?

2seventy bio Inc [NASDAQ: TSVT] jumped around 0.05 points on Monday, while shares priced at $1.82 at the close of the session, up 2.82%. The company report on November 20, 2023 at 6:59 AM that Bristol Myers Squibb and 2seventy bio Provide Update on U.S. FDA Review of sBLA for Abecma (idecabtagene vicleucel) in Earlier Lines of Therapy for Triple-Class Exposed Relapsed or Refractory Multiple Myeloma.

Bristol Myers Squibb (NYSE: BMY) and 2seventy bio, Inc. (Nasdaq: TSVT) today announced the U.S. Food and Drug Administration’s (FDA) Oncologic Drugs Advisory Committee (ODAC) will meet to review data supporting the supplemental Biologics License Application (sBLA) for Abecma (idecabtagene vicleucel) for earlier lines of triple-class exposed relapsed or refractory multiple myeloma (RRMM) based on results from the pivotal Phase 3 KarMMa-3 study. The date of the ODAC meeting has not yet been confirmed by the FDA. The FDA also informed the companies that a decision on the application will not be made by the Prescription Drug User Fee Act (PDUFA) target action date of December 16, 2023.

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The companies anticipate that the committee will review data related to the secondary endpoint of overall survival (OS). The companies look forward to continuing discussions with the FDA and participating in the ODAC meeting to reinforce the potential of Abecma to deliver significantly improved outcomes in patients with triple-class exposed RRMM in earlier lines of treatment. The ODAC meeting has no impact on the currently approved indication for Abecma for adult patients with triple-class exposed RRMM after four or more prior lines of therapy.

2seventy bio Inc stock is now -80.58% down from its year-to-date (YTD) trading value. TSVT Stock saw the intraday high of $1.8904 and lowest of $1.73 per share. The company’s 52-week high price is 16.17, which means current price is +18.57% above from all time high which was touched on 02/06/23.

Compared to the average trading volume of 1.81M shares, TSVT reached a trading volume of 5396182 in the most recent trading day, which is why market watchdogs consider the stock to be active.

What do top market gurus say about 2seventy bio Inc [TSVT]?

Based on careful and fact-backed analyses by Wall Street experts, the current consensus on the target price for TSVT shares is $8.20 per share. Analysis on target price and performance of stocks is usually carefully studied by market experts, and the current Wall Street consensus on TSVT stock is a recommendation set at 2.14. This rating represents a strong Buy recommendation, on the scale from 1 to 5, where 5 would mean strong sell, 4 represents Sell, 3 is Hold, and 2 indicates Buy.

Leerink Partners have made an estimate for 2seventy bio Inc shares, keeping their opinion on the stock as Market Perform, with their previous recommendation back on October 30, 2023.

The Average True Range (ATR) for 2seventy bio Inc is set at 0.31, with the Price to Sales ratio for TSVT stock in the period of the last 12 months amounting to 0.63. The Price to Book ratio for the last quarter was 0.30, with the Price to Cash per share for the same quarter was set at 4.95.

How has TSVT stock performed recently?

2seventy bio Inc [TSVT] fell into the red zone at the end of the last week, falling into a negative trend and dropping by -14.55. With this latest performance, TSVT shares dropped by -28.63% in over the last four-week period, additionally sinking by -84.81% over the last 6 months – not to mention a drop of -88.31% in the past year of trading.

Overbought and oversold stocks can be easily traced with the Relative Strength Index (RSI), where an RSI result of over 70 would be overbought, and any rate below 30 would indicate oversold conditions. An RSI rate of 50 would represent a neutral market momentum. The current RSI for TSVT stock in for the last two-week period is set at 31.49, with the RSI for the last a single of trading hit 33.11, and the three-weeks RSI is set at 31.15 for 2seventy bio Inc [TSVT]. The present Moving Average for the last 50 days of trading for this stock 3.1219, while it was recorded at 1.7280 for the last single week of trading, and 7.9105 for the last 200 days.

2seventy bio Inc [TSVT]: Deeper insight into the fundamentals

Operating Margin for any stock indicates how profitable investing would be, and 2seventy bio Inc [TSVT] shares currently have an operating margin of -287.34 and a Gross Margin at +58.74. 2seventy bio Inc’s Net Margin is presently recorded at -277.77.

Return on Total Capital for TSVT is now -43.01, given the latest momentum, and Return on Invested Capital for the company is -42.30. Return on Equity for this stock declined to -75.83, with Return on Assets sitting at -35.89. When it comes to the capital structure of this company, 2seventy bio Inc [TSVT] has a Total Debt to Total Equity ratio set at 87.02. Additionally, TSVT Total Debt to Total Capital is recorded at 46.53, with Total Debt to Total Assets ending up at 41.14. Long-Term Debt to Equity for the company is recorded at 83.43, with the Long-Term Debt to Total Capital now at 44.61.

Reflecting on the efficiency of the workforce at the company, 2seventy bio Inc [TSVT] managed to generate an average of -$598,007 per employee.2seventy bio Inc’s liquidity data is similarly interesting compelling, with a Quick Ratio of 4.08 and a Current Ratio set at 4.08.

Insider trade positions for 2seventy bio Inc [TSVT]

The top three institutional holders of TSVT stocks are: VANGUARD GROUP INC with ownership of 1.3 billion shares, which is approximately 8.2579%. BLACKROCK INC., holding 1.04 billion shares of the stock with an approximate value of $201.66 billion in TSVT stocks shares; and BERKSHIRE HATHAWAY INC, currently with $177.59 billion in TSVT stock with ownership which is approximately 5.7994%.