Stonepine Capital Management LLC Boosts Stock Holdings in 2seventy bio, Inc. (NASDAQ:TSVT)

Stonepine Capital Management LLC lifted its holdings in 2seventy bio, Inc. (NASDAQ:TSVT - Free Report) by 200.0% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 300,000 shares of the company's stock after purchasing an additional 200,000 shares during the period. Stonepine Capital Management LLC owned about 0.58% of 2seventy bio worth $882,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Bank of America Corp DE boosted its position in 2seventy bio by 317.1% during the fourth quarter. Bank of America Corp DE now owns 2,515,897 shares of the company's stock worth $7,397,000 after purchasing an additional 1,912,771 shares in the last quarter. Regeneron Pharmaceuticals Inc. acquired a new position in shares of 2seventy bio during the 4th quarter worth approximately $3,689,000. Toronto Dominion Bank acquired a new position in shares of 2seventy bio during the 4th quarter worth approximately $2,352,000. Point72 Asset Management L.P. purchased a new position in shares of 2seventy bio during the 4th quarter valued at approximately $913,000. Finally, Monimus Capital Management LP acquired a new stake in 2seventy bio in the 4th quarter valued at $775,000. Hedge funds and other institutional investors own 93.90% of the company's stock.

Insiders Place Their Bets

In other news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the sale, the chief executive officer now directly owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. The trade was a 0.45% decrease in their position. 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. 7.20% of the stock is currently owned by insiders.

2seventy bio Price Performance

TSVT stock remained flat at $5.00 during mid-day trading on Friday. The stock's fifty day simple moving average is $4.97 and its two-hundred day simple moving average is $3.79. 2seventy bio, Inc. has a 52-week low of $2.29 and a 52-week high of $5.30. The firm has a market cap of $266.15 million, a PE ratio of -2.69 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT - Get Free Report) last posted its quarterly earnings results on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, beating 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 firm had revenue of $22.94 million during the quarter, compared to analysts' expectations of $13.96 million. As a group, analysts forecast that 2seventy bio, Inc. will post -1.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have issued reports on the stock. Leerink Partnrs downgraded shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. Morgan Stanley lowered their price objective on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a report on Friday, March 14th. Weiss Ratings reiterated a "sell (d-)" rating on shares of 2seventy bio in a research note on Saturday, May 10th. Finally, Leerink Partners reissued a "market perform" rating and set a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the stock. Based on data from MarketBeat, 2seventy bio presently has an average rating of "Hold" and a consensus price target of $4.25.

2seventy bio 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.