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

Madison Avenue Partners LP lessened its holdings in 2seventy bio, Inc. (NASDAQ:TSVT - Free Report) by 77.4% during the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 579,895 shares of the company's stock after selling 1,983,327 shares during the period. 2seventy bio makes up approximately 0.2% of Madison Avenue Partners LP's portfolio, making the stock its 14th biggest holding. Madison Avenue Partners LP owned 1.12% of 2seventy bio worth $1,705,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of TSVT. Rhumbline Advisers boosted its stake in 2seventy bio by 9.5% in the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock valued at $249,000 after acquiring an additional 7,379 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of 2seventy bio by 41.1% during the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company's stock worth $61,000 after purchasing an additional 6,030 shares during the last quarter. American Century Companies Inc. raised its holdings in shares of 2seventy bio by 6.6% in the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company's stock worth $275,000 after purchasing an additional 5,785 shares during the period. Charles Schwab Investment Management Inc. lifted its stake in 2seventy bio by 3.6% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 428,660 shares of the company's stock valued at $1,260,000 after purchasing an additional 15,061 shares during the last quarter. Finally, Barclays PLC lifted its stake in 2seventy bio by 12.7% in the fourth 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. 93.90% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have issued reports on the company. Leerink Partners reissued a "market perform" rating and issued a $5.00 target price (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Leerink Partnrs lowered 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 research note on Friday, March 14th. Finally, Weiss Ratings reiterated a "sell (d-)" rating on shares of 2seventy bio in a research report on Saturday. 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, the company presently has an average rating of "Hold" and a consensus price target of $4.25.

2seventy bio Stock Performance

Shares of NASDAQ TSVT opened at $5.00 on Wednesday. 2seventy bio, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.30. The stock has a market cap of $266.15 million, a PE ratio of -2.69 and a beta of 1.04. The stock has a fifty day moving average of $4.88 and a 200-day moving average of $3.76.

2seventy bio (NASDAQ:TSVT - Get Free Report) last issued its earnings results on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, topping 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 business had revenue of $22.94 million during the quarter, compared to the consensus estimate of $13.96 million. On average, sell-side analysts predict that 2seventy bio, Inc. will post -1.46 EPS for the current year.

Insider Activity

In related 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 transaction of $25,205.40. Following the completion of the transaction, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. Over the last ninety days, 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.

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