Dimensional Fund Advisors LP Buys 193,305 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

Dimensional Fund Advisors LP lifted its stake in 2seventy bio, Inc. (NASDAQ:TSVT - Free Report) by 68.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 475,118 shares of the company's stock after buying an additional 193,305 shares during the period. Dimensional Fund Advisors LP owned about 0.92% of 2seventy bio worth $1,397,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of TSVT. Regeneron Pharmaceuticals Inc. acquired a new stake in shares of 2seventy bio in the 4th quarter valued at approximately $3,689,000. Monimus Capital Management LP acquired a new stake in 2seventy bio in the fourth quarter worth $775,000. Venator Management LLC raised its holdings in 2seventy bio by 9.5% in the fourth quarter. Venator Management LLC now owns 575,000 shares of the company's stock worth $1,690,000 after purchasing an additional 50,000 shares during the period. Raymond James Financial Inc. bought a new position in shares of 2seventy bio during the fourth quarter worth $52,000. Finally, Charles Schwab Investment Management Inc. grew its holdings in shares of 2seventy bio by 3.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 428,660 shares of the company's stock valued at $1,260,000 after buying an additional 15,061 shares during the period. Institutional investors and hedge funds own 93.90% of the company's stock.

2seventy bio Price Performance

Shares of NASDAQ TSVT opened at $5.00 on Thursday. The company has a 50 day simple moving average of $4.97 and a 200 day simple moving average of $3.78. The firm has a market cap of $266.15 million, a PE ratio of -2.69 and a beta of 1.04. 2seventy bio, Inc. has a 1 year low of $2.29 and a 1 year high of $5.30.

2seventy bio (NASDAQ:TSVT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, topping analysts' consensus estimates 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 business had revenue of $22.94 million during the quarter, compared to the consensus estimate of $13.96 million. As a group, research analysts anticipate that 2seventy bio, Inc. will post -1.46 earnings per share for the current fiscal year.

Insider Buying and Selling at 2seventy bio

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the completion of the sale, the chief executive officer now owns 1,121,034 shares of the company's stock, valued at $5,549,118.30. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm's 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 valued at $25,400,018 in the last three months. Company insiders own 7.20% of the company's stock.

Analysts Set New Price Targets

Several brokerages recently commented on TSVT. Weiss Ratings reaffirmed a "sell (d-)" rating on shares of 2seventy bio in a research note on Saturday, May 10th. Morgan Stanley dropped their price target on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Friday, March 14th. Leerink Partnrs cut 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. Finally, Leerink Partners reissued a "market perform" rating and set a $5.00 target price (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $4.25.

2seventy bio Company Profile

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.