Engine Capital Management LP grew its stake in shares of 2seventy bio, Inc. (NASDAQ:TSVT – Free Report) by 337.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,494,304 shares of the company’s stock after purchasing an additional 1,152,434 shares during the quarter. 2seventy bio makes up approximately 1.1% of Engine Capital Management LP’s investment portfolio, making the stock its 19th largest position. Engine Capital Management LP owned approximately 2.95% of 2seventy bio worth $6,381,000 as of its most recent filing with the Securities and Exchange Commission.
A number of other hedge funds have also recently made changes to their positions in TSVT. Tower Research Capital LLC TRC lifted its holdings in shares of 2seventy bio by 15.2% in the 4th quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock worth $62,000 after buying an additional 1,925 shares during the period. Deutsche Bank AG grew its holdings in 2seventy bio by 15.7% during the 3rd quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock worth $102,000 after acquiring an additional 3,537 shares in the last quarter. SG Americas Securities LLC raised its holdings in shares of 2seventy bio by 20.9% in the 4th quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock valued at $117,000 after purchasing an additional 4,715 shares in the last quarter. Exchange Traded Concepts LLC boosted its stake in shares of 2seventy bio by 34.0% during the fourth quarter. Exchange Traded Concepts LLC now owns 34,616 shares of the company’s stock valued at $148,000 after purchasing an additional 8,778 shares in the last quarter. Finally, Pale Fire Capital SE increased its holdings in 2seventy bio by 67.5% during the fourth quarter. Pale Fire Capital SE now owns 40,688 shares of the company’s stock valued at $174,000 after buying an additional 16,400 shares during the period. 93.90% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
A number of equities research analysts have recently weighed in on TSVT shares. Wedbush reissued a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a report on Monday, March 18th. Canaccord Genuity Group raised shares of 2seventy bio to a “strong-buy” rating in a report on Thursday, May 9th. Citigroup raised their target price on 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research report on Monday, April 8th. The Goldman Sachs Group downgraded 2seventy bio from a “neutral” rating to a “sell” rating and reduced their target price for the stock from $5.00 to $2.00 in a research note on Thursday. Finally, Canaccord Genuity Group cut their price target on shares of 2seventy bio from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, four have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average price target of $12.43.
2seventy bio Stock Down 5.2 %
Shares of 2seventy bio stock traded down $0.21 during trading hours on Friday, reaching $3.92. 474,382 shares of the company’s stock were exchanged, compared to its average volume of 491,649. The business has a fifty day moving average of $4.68 and a two-hundred day moving average of $4.36. The company has a market capitalization of $201.23 million, a P/E ratio of -0.90 and a beta of 1.80. 2seventy bio, Inc. has a 1 year low of $1.53 and a 1 year high of $12.69.
2seventy bio (NASDAQ:TSVT – Get Free Report) last released its quarterly earnings data on Wednesday, May 8th. The company reported ($0.81) EPS for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.09). The business had revenue of $12.44 million during the quarter, compared to analyst estimates of $11.93 million. 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. As a group, research analysts predict that 2seventy bio, Inc. will post -0.93 EPS for the current year.
Insider Buying and Selling
In related news, Director Casdin Capital, Llc bought 330,000 shares of the business’s stock in a transaction on Monday, March 25th. The stock was acquired at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the purchase, the director now directly owns 1,960,000 shares of the company’s stock, valued at $9,937,200. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Over the last 90 days, insiders have sold 1,831 shares of company stock worth $7,665. 7.20% of the stock is owned by corporate insiders.
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.