Madison Avenue Partners LP Sells 1,983,327 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

Madison Avenue Partners LP lessened its position in shares of 2seventy bio, Inc. (NASDAQ:TSVT - Free Report) by 77.4% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 579,895 shares of the company's stock after selling 1,983,327 shares during the period. 2seventy bio accounts for 0.2% of Madison Avenue Partners LP's investment portfolio, making the stock its 14th largest position. Madison Avenue Partners LP owned about 1.12% of 2seventy bio worth $1,705,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Rhumbline Advisers raised its stake in 2seventy bio by 9.5% during the fourth 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. Dimensional Fund Advisors LP increased its holdings in shares of 2seventy bio by 68.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 475,118 shares of the company's stock worth $1,397,000 after buying an additional 193,305 shares during the last quarter. Barclays PLC lifted its stake in shares of 2seventy bio by 12.7% in the 4th quarter. Barclays PLC now owns 90,795 shares of the company's stock valued at $267,000 after purchasing an additional 10,201 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of 2seventy bio by 6.6% in the fourth quarter. American Century Companies Inc. now owns 93,552 shares of the company's stock worth $275,000 after buying an additional 5,785 shares during the period. Finally, Intech Investment Management LLC increased its holdings in shares of 2seventy bio by 41.1% in the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock valued at $61,000 after acquiring an additional 6,030 shares during the period. Hedge funds and other institutional investors own 93.90% of the company's stock.

Insider Transactions at 2seventy bio

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the 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 document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, 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 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 disclosure for this sale can be found here. Over the last quarter, insiders sold 5,152,093 shares of company stock valued at $25,400,018. 7.20% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

TSVT has been the subject of several analyst reports. Leerink Partnrs cut 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. Leerink Partners reiterated a "market perform" rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Morgan Stanley lowered their price target 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. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of 2seventy bio in a research report on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating and four have given a hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $4.25.

2seventy bio Stock Performance

Shares of 2seventy bio stock remained flat at $5.00 during trading on Monday. The business's 50-day simple moving average is $4.97 and its 200 day simple moving average is $3.76. The stock has a market cap of $266.15 million, a price-to-earnings 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 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 company had revenue of $22.94 million for the quarter, compared to analysts' expectations of $13.96 million. Equities analysts forecast that 2seventy bio, Inc. will post -1.46 earnings per share for the current fiscal year.

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.