2seventy bio, Inc. (NASDAQ:TSVT) Position Decreased by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lowered its holdings in 2seventy bio, Inc. (NASDAQ:TSVT) by 36.6% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 34,816 shares of the company’s stock after selling 20,064 shares during the quarter. Exchange Traded Concepts LLC’s holdings in 2seventy bio were worth $164,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. SkyView Investment Advisors LLC lifted its position in shares of 2seventy bio by 25.0% during the 2nd quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the company’s stock valued at $48,000 after acquiring an additional 2,500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of 2seventy bio by 11.1% during the first quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock worth $155,000 after purchasing an additional 2,893 shares during the period. BBR Partners LLC lifted its holdings in shares of 2seventy bio by 66.7% during the second quarter. BBR Partners LLC now owns 25,000 shares of the company’s stock valued at $96,000 after purchasing an additional 10,000 shares during the last quarter. Bank of New York Mellon Corp lifted its holdings in shares of 2seventy bio by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 196,959 shares of the company’s stock valued at $758,000 after purchasing an additional 10,077 shares during the last quarter. Finally, American Century Companies Inc. boosted its position in shares of 2seventy bio by 16.6% in the 2nd quarter. American Century Companies Inc. now owns 79,953 shares of the company’s stock valued at $308,000 after purchasing an additional 11,363 shares during the period. 93.90% of the stock is currently owned by institutional investors.

2seventy bio Trading Down 0.4 %

Shares of NASDAQ:TSVT opened at $4.97 on Tuesday. The stock has a market capitalization of $255.96 million, a PE ratio of -1.62 and a beta of 1.77. 2seventy bio, Inc. has a 1 year low of $1.53 and a 1 year high of $6.40. The firm has a fifty day moving average price of $4.72 and a 200 day moving average price of $4.52.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, topping the consensus estimate of ($0.35) by $0.06. 2seventy bio had a negative net margin of 354.16% and a negative return on equity of 66.01%. The business had revenue of $8.97 million during the quarter, compared to the consensus estimate of $11.43 million. On average, sell-side analysts forecast that 2seventy bio, Inc. will post -1.23 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other news, insider Jessica Snow sold 7,816 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $4.32, for a total transaction of $33,765.12. Following the completion of the transaction, the insider now owns 156,330 shares of the company’s stock, valued at approximately $675,345.60. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Company insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on TSVT shares. Wedbush reaffirmed a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research note on Thursday, June 27th. Morgan Stanley reduced their price target on shares of 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. One equities research analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price 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.