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

Dimensional Fund Advisors LP increased its position in shares of 2seventy bio, Inc. (NASDAQ:TSVT - Free Report) by 68.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 475,118 shares of the company's stock after acquiring an additional 193,305 shares during the period. Dimensional Fund Advisors LP owned about 0.92% of 2seventy bio worth $1,397,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently bought and sold shares of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of 2seventy bio in the fourth quarter worth about $32,000. Raymond James Financial Inc. bought a new position in shares of 2seventy bio in the fourth quarter valued at approximately $52,000. Intech Investment Management LLC lifted its stake in shares of 2seventy bio by 41.1% in the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock worth $61,000 after buying an additional 6,030 shares during the last quarter. Wells Fargo & Company MN boosted its holdings in shares of 2seventy bio by 23.2% during the 4th quarter. Wells Fargo & Company MN now owns 32,532 shares of the company's stock worth $96,000 after buying an additional 6,133 shares during the period. Finally, Rhumbline Advisers grew its stake in 2seventy bio by 9.5% in the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock valued at $249,000 after buying an additional 7,379 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company's stock.

Analyst Ratings Changes

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

2seventy bio Stock Performance

NASDAQ TSVT remained flat at $5.00 during trading hours on Monday. The stock's 50 day simple moving average is $4.97 and its two-hundred day simple moving average is $3.76. The company has a market capitalization of $266.15 million, a P/E ratio of -2.69 and a beta of 1.04. 2seventy bio, Inc. has a 12 month low of $2.29 and a 12 month high of $5.30.

2seventy bio (NASDAQ:TSVT - Get Free Report) last announced its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, beating analysts' consensus estimates of ($0.10) by $0.11. The business had revenue of $22.94 million for the quarter, compared to the consensus estimate of $13.96 million. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. On average, analysts predict that 2seventy bio, Inc. will post -1.46 EPS for the current year.

Insider Activity at 2seventy bio

In other news, CEO William D. Baird III sold 5,092 shares of the business'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 sale, the chief executive officer now directly owns 1,121,034 shares in the company, 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 the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company's stock in a transaction dated Tuesday, March 11th. The stock was 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. In the last three months, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is owned by company insiders.

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.