Intech Investment Management LLC Boosts Stock Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Intech Investment Management LLC raised its position in 2seventy bio, Inc. (NASDAQ:TSVT) by 41.1% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 20,688 shares of the company’s stock after purchasing an additional 6,030 shares during the period. Intech Investment Management LLC’s holdings in 2seventy bio were worth $61,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in TSVT. Regeneron Pharmaceuticals Inc. purchased a new position in shares of 2seventy bio during the fourth quarter valued at approximately $3,689,000. Western Standard LLC purchased a new position in shares of 2seventy bio during the 3rd quarter worth $1,350,000. Monimus Capital Management LP acquired a new stake in shares of 2seventy bio during the fourth quarter worth $775,000. PDT Partners LLC purchased a new stake in 2seventy bio in the 3rd quarter valued at about $244,000. Finally, FMR LLC grew its holdings in 2seventy bio by 22.0% in the third quarter. FMR LLC now owns 148,545 shares of the company’s stock valued at $701,000 after purchasing an additional 26,738 shares during the period. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several research analysts recently weighed in on the company. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Morgan Stanley dropped their price target 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. Leerink Partners reaffirmed a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Finally, Weiss Ratings reissued a “sell (e+)” rating on shares of 2seventy bio in a research report on Saturday, March 22nd. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat.com, 2seventy bio has a consensus rating of “Hold” and a consensus price target of $6.67.

2seventy bio Price Performance

Shares of TSVT opened at $4.95 on Friday. 2seventy bio, Inc. has a 12 month low of $2.29 and a 12 month high of $5.99. The stock’s 50-day moving average is $3.24 and its two-hundred day moving average is $3.73. The stock has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73.

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

Insider Activity

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the transaction, the chief executive officer now directly owns 1,121,034 shares of the company’s stock, valued at $5,549,118.30. This represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’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 disclosure for this sale can be found here. Over the last three months, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is currently owned by company 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.