Western Standard LLC lifted its position in shares of 2seventy bio, Inc. (NASDAQ:TSVT - Free Report) by 175.7% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 788,350 shares of the company's stock after purchasing an additional 502,419 shares during the quarter. 2seventy bio makes up about 1.5% of Western Standard LLC's investment portfolio, making the stock its 22nd largest position. Western Standard LLC owned 1.53% of 2seventy bio worth $2,318,000 at the end of the most recent reporting period.
Several other institutional investors also recently modified their holdings of TSVT. China Universal Asset Management Co. Ltd. acquired a new stake in shares of 2seventy bio during the 4th quarter worth approximately $32,000. Rhumbline Advisers grew its holdings in shares of 2seventy bio by 9.5% during the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock worth $249,000 after purchasing an additional 7,379 shares in the last quarter. Charles Schwab Investment Management Inc. lifted its position 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 buying an additional 15,061 shares during the period. Raymond James Financial Inc. bought a new position in shares of 2seventy bio during the 4th quarter worth approximately $52,000. Finally, Regeneron Pharmaceuticals Inc. bought a new position in shares of 2seventy bio during the 4th quarter worth approximately $3,689,000. Institutional investors and hedge funds own 93.90% of the company's stock.
2seventy bio Stock Performance
TSVT stock remained flat at $5.00 during midday trading on Friday. The company has a 50 day simple moving average of $4.97 and a two-hundred day simple moving average of $3.78. 2seventy bio, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.30. The firm has a market capitalization of $266.15 million, a P/E ratio of -2.69 and a beta of 1.04.
2seventy bio (NASDAQ:TSVT - Get Free Report) last released 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. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The firm had revenue of $22.94 million during the quarter, compared to analysts' expectations of $13.96 million. Analysts expect that 2seventy bio, Inc. will post -1.46 EPS for the current fiscal year.
Insider Activity at 2seventy bio
In other news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.95, for a total value of $25,205.40. Following the completion of the sale, the chief executive officer now directly owns 1,121,034 shares of the company's stock, valued at $5,549,118.30. This trade represents a 0.45% decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 5,152,093 shares of company stock valued at $25,400,018 in the last three months. Corporate insiders own 7.20% of the company's stock.
Wall Street Analysts Forecast Growth
Several equities analysts recently commented on TSVT shares. Leerink Partners restated a "market perform" rating and set a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a research 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. Leerink Partnrs downgraded 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley cut their target price on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating for the company in a research report on Friday, March 14th. One equities research 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 stock has a consensus rating of "Hold" and a consensus target price of $4.25.
View Our Latest Research Report on 2seventy bio
About 2seventy bio
(
Free Report)
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.
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