2seventy bio, Inc. (NASDAQ:TSVT) Position Boosted by Venator Management LLC

Venator Management LLC increased its holdings in 2seventy bio, Inc. (NASDAQ:TSVT) by 9.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 575,000 shares of the company’s stock after purchasing an additional 50,000 shares during the quarter. 2seventy bio accounts for 0.5% of Venator Management LLC’s holdings, making the stock its 17th biggest position. Venator Management LLC owned about 1.11% of 2seventy bio worth $1,690,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the business. Erste Asset Management GmbH acquired a new position in shares of 2seventy bio in the 3rd quarter valued at $25,000. American Century Companies Inc. raised its holdings in 2seventy bio by 6.6% during the 4th 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. Intech Investment Management LLC lifted its stake in 2seventy bio by 41.1% during the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after buying an additional 6,030 shares in the last quarter. Rhumbline Advisers boosted its holdings in shares of 2seventy bio by 9.5% in the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock worth $249,000 after buying an additional 7,379 shares during the period. Finally, XTX Topco Ltd raised its holdings in shares of 2seventy bio by 61.1% during the third quarter. XTX Topco Ltd now owns 24,416 shares of the company’s stock valued at $115,000 after acquiring an additional 9,257 shares during the period. 93.90% of the stock is owned by institutional investors and hedge funds.

2seventy bio Price Performance

Shares of TSVT stock opened at $4.95 on Monday. 2seventy bio, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.99. The stock’s 50-day moving average is $3.24 and its two-hundred day moving average is $3.72. The firm has a market cap of $255.36 million, a P/E ratio of -2.66 and a beta of 1.73.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08). The firm had revenue of $2.93 million during the quarter, compared to analyst estimates of $12.84 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. As a group, research analysts expect that 2seventy bio, Inc. will post -1.46 EPS for the current year.

Insider Activity

In other 2seventy bio news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 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 completion of the transaction, the chief executive officer now directly owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several research firms have weighed in on TSVT. Weiss Ratings reiterated a “sell (e+)” rating on shares of 2seventy bio in a research report on Saturday, March 22nd. Leerink Partners reiterated a “market perform” rating and set a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Morgan Stanley reduced their price objective on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Finally, Leerink Partnrs cut 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $6.67.

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.