2seventy bio (TSVT) to Cut 40% Staff
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Goldman Sachs Downgrades 2Seventy Bio Inc. (TSVT) to Neutral, 'Monitoring execution on Abecma and the pipeline'
September 13, 2023 7:58 AM EDTGoldman Sachs analyst Salveen Richter downgraded 2Seventy Bio Inc. (NASDAQ: TSVT) from Buy to Neutral with a price target of $5.00.
The analyst comments "
TSVT announced a strategic restructuring, including a 40% workforce reduction, to prioritize Abecma growth, streamline pipeline advancement and preserve cash runway and lowered US FY23 Abecma revenue guidance for a second time (previously in conjunction with BMYs 2Q23 earnings)... More
