DAFNA Capital Management LLC Sells 200,777 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

DAFNA Capital Management LLC lowered its stake in 2seventy bio, Inc. (NASDAQ:TSVT - Free Report) by 31.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 429,252 shares of the company's stock after selling 200,777 shares during the period. DAFNA Capital Management LLC owned approximately 0.83% of 2seventy bio worth $1,262,000 at the end of the most recent reporting period.

Several other hedge funds also recently made changes to their positions in TSVT. Rhumbline Advisers increased its stake in 2seventy bio by 9.5% in the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock valued at $249,000 after purchasing an additional 7,379 shares during the last quarter. Intech Investment Management LLC increased its stake in 2seventy bio by 41.1% during the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock valued at $61,000 after buying an additional 6,030 shares during the period. American Century Companies Inc. grew its stake in shares of 2seventy bio by 6.6% in the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company's stock worth $275,000 after purchasing an additional 5,785 shares during the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of 2seventy bio by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 428,660 shares of the company's stock worth $1,260,000 after acquiring an additional 15,061 shares in the last quarter. Finally, Barclays PLC increased its position in shares of 2seventy bio by 12.7% in the fourth quarter. Barclays PLC now owns 90,795 shares of the company's stock worth $267,000 after acquiring an additional 10,201 shares in the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.

2seventy bio Price Performance

Shares of NASDAQ TSVT traded up $0.01 during mid-day trading on Tuesday, reaching $5.00. 1,158,184 shares of the company's stock were exchanged, compared to its average volume of 624,330. The firm has a market capitalization of $266.15 million, a price-to-earnings ratio of -2.69 and a beta of 1.04. 2seventy bio, Inc. has a 52 week low of $2.29 and a 52 week high of $5.30. The firm has a 50-day moving average price of $4.83 and a two-hundred day moving average price of $3.75.

2seventy bio (NASDAQ:TSVT - Get Free Report) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.11. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The company had revenue of $22.94 million during the quarter, compared to analyst estimates of $13.96 million. As a group, sell-side analysts forecast that 2seventy bio, Inc. will post -1.46 EPS for the current fiscal year.

Insider Activity at 2seventy bio

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the transaction, the chief executive officer now directly owns 1,121,034 shares of the company's stock, valued at approximately $5,549,118.30. This trade represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The disclosure for this sale can be found here. Insiders sold a total of 5,152,093 shares of company stock worth $25,400,018 over the last quarter. 7.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Leerink Partnrs downgraded 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Morgan Stanley cut their price target on shares of 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Leerink Partners reissued a "market perform" rating and issued a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of 2seventy bio in a research note on Saturday. One research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, 2seventy bio presently has an average rating of "Hold" and an average price target of $4.25.

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.