SkyView Investment Advisors LLC Acquires 2,500 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

SkyView Investment Advisors LLC raised its stake in shares of 2seventy bio, Inc. (NASDAQ:TSVT) by 25.0% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,500 shares of the company’s stock after purchasing an additional 2,500 shares during the period. SkyView Investment Advisors LLC’s holdings in 2seventy bio were worth $48,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of TSVT. Goldman Sachs Group Inc. increased its position in shares of 2seventy bio by 512.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after purchasing an additional 3,772,556 shares during the last quarter. Madison Avenue Partners LP boosted its stake in shares of 2seventy bio by 17.4% during the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after purchasing an additional 260,663 shares during the period. Healthcare of Ontario Pension Plan Trust Fund bought a new position in 2seventy bio during the 1st quarter valued at about $9,291,000. Engine Capital Management LP raised its position in 2seventy bio by 337.1% in the 4th quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock worth $6,381,000 after purchasing an additional 1,152,434 shares during the period. Finally, Marshall Wace LLP lifted its stake in 2seventy bio by 50.4% in the second quarter. Marshall Wace LLP now owns 667,023 shares of the company’s stock worth $2,568,000 after purchasing an additional 223,408 shares during the last quarter. 93.90% of the stock is owned by institutional investors.

Insider Transactions at 2seventy bio

In related news, insider Jessica Snow sold 7,816 shares of the firm’s stock in a transaction dated Wednesday, August 14th. The stock was sold at an average price of $4.32, for a total transaction of $33,765.12. Following the sale, the insider now owns 156,330 shares of the company’s stock, valued at $675,345.60. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Corporate insiders own 7.20% of the company’s stock.

2seventy bio Price Performance

Shares of 2seventy bio stock opened at $4.93 on Monday. The stock has a market cap of $253.43 million, a price-to-earnings ratio of -1.13 and a beta of 1.77. The firm’s 50-day moving average is $4.58 and its two-hundred day moving average is $4.52. 2seventy bio, Inc. has a 1 year low of $1.53 and a 1 year high of $6.40.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data on Wednesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06. The company had revenue of $8.97 million for the quarter, compared to analyst estimates of $11.43 million. 2seventy bio had a negative net margin of 354.16% and a negative return on equity of 66.01%. On average, equities analysts expect that 2seventy bio, Inc. will post -1.33 earnings per share for the current year.

Analyst Ratings Changes

A number of research firms have recently commented on TSVT. The Goldman Sachs Group cut 2seventy bio from a “neutral” rating to a “sell” rating and cut their target price for the company from $5.00 to $2.00 in a research note on Thursday, June 6th. Morgan Stanley decreased their target price on 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating for the company in a research report on Monday, July 29th. Finally, Wedbush restated a “neutral” rating and issued a $5.00 price target on shares of 2seventy bio in a report on Thursday, June 27th. One research analyst has rated the stock with a sell rating, three have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

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.