Nisa Investment Advisors LLC Invests $52,000 in 2seventy bio, Inc. (NASDAQ:TSVT)

Nisa Investment Advisors LLC bought a new stake in shares of 2seventy bio, Inc. (NASDAQ:TSVT) in the second quarter, Holdings Channel reports. The fund bought 13,561 shares of the company’s stock, valued at approximately $52,000.

Several other hedge funds also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its stake 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 worth $19,253,000 after purchasing an additional 3,772,556 shares during the period. Healthcare of Ontario Pension Plan Trust Fund acquired a new stake in 2seventy bio during the first quarter valued at $9,291,000. Engine Capital Management LP increased its holdings in 2seventy bio by 337.1% in the fourth quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock valued at $6,381,000 after buying an additional 1,152,434 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of 2seventy bio in the first quarter worth about $2,031,000. Finally, Madison Avenue Partners LP raised its position in shares of 2seventy bio by 17.4% in the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after acquiring an additional 260,663 shares during the period. 93.90% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Jessica Snow sold 7,816 shares of the business’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 transaction, the insider now directly owns 156,330 shares in the company, valued at $675,345.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders sold 9,645 shares of company stock worth $41,408 over the last three months. Insiders own 7.20% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Canaccord Genuity Group upgraded 2seventy bio to a “strong-buy” rating in a research note on Thursday, May 9th. The Goldman Sachs Group cut 2seventy bio from a “neutral” rating to a “sell” rating and cut their price objective for the company from $5.00 to $2.00 in a research report on Thursday, June 6th. Canaccord Genuity Group decreased their target price on 2seventy bio from $12.00 to $11.00 and set a “buy” rating on the stock in a research report on Thursday, May 9th. Wedbush reissued a “neutral” rating and issued a $5.00 price target on shares of 2seventy bio in a research note on Thursday, June 27th. Finally, Morgan Stanley reduced their price objective 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 research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, 2seventy bio currently has an average rating of “Moderate Buy” and an average target price of $9.00.

2seventy bio Stock Performance

Shares of TSVT stock opened at $4.75 on Monday. 2seventy bio, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $6.40. The stock’s fifty day moving average is $4.29 and its two-hundred day moving average is $4.67. The firm has a market capitalization of $244.63 million, a P/E ratio of -1.09 and a beta of 1.77.

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.