2seventy Bio price target lowered to $25 from $28 at Morgan Stanley

Morgan Stanley analyst Vikram Purohit lowered the firm’s price target on 2seventy Bio to $25 from $28 and keeps an Overweight rating on the shares. The firm has updated its BCMA CAR-T market model and modestly lowered uptake for Abecma in the third-line and later setting in the outer years of its projection period to account for competitive pressure from Carvykti, the analyst tells investors.