Dimensional Fund Advisors LP Sells 24,371 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

Dimensional Fund Advisors LP trimmed its holdings in shares of 2seventy bio, Inc. (NASDAQ:TSVT) by 10.6% during the second quarter, HoldingsChannel reports. The firm owned 204,845 shares of the company’s stock after selling 24,371 shares during the quarter. Dimensional Fund Advisors LP’s holdings in 2seventy bio were worth $789,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Nisa Investment Advisors LLC purchased a new position in 2seventy bio in the second quarter valued at approximately $52,000. BBR Partners LLC raised its stake in shares of 2seventy bio by 66.7% in the second quarter. BBR Partners LLC now owns 25,000 shares of the company’s stock valued at $96,000 after buying an additional 10,000 shares during the period. Public Employees Retirement System of Ohio lifted its position in shares of 2seventy bio by 2,637.0% during the 1st quarter. Public Employees Retirement System of Ohio now owns 27,370 shares of the company’s stock valued at $146,000 after buying an additional 26,370 shares during the last quarter. Price T Rowe Associates Inc. MD raised its stake in 2seventy bio by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock valued at $155,000 after acquiring an additional 2,893 shares during the period. Finally, American Century Companies Inc. raised its stake in 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 acquiring an additional 11,363 shares during the period. 93.90% of the stock is owned by hedge funds and other institutional investors.

2seventy bio Trading Up 3.9 %

Shares of 2seventy bio stock opened at $5.01 on Monday. The company’s 50-day moving average price is $4.63 and its 200-day moving average price is $4.53. The company has a market cap of $258.02 million, a price-to-earnings ratio of -1.63 and a beta of 1.77. 2seventy bio, Inc. has a 12-month low of $1.53 and a 12-month high of $6.40.

2seventy bio (NASDAQ:TSVT) last posted its earnings results 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. The business had revenue of $8.97 million for the quarter, compared to analysts’ expectations 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, sell-side analysts predict that 2seventy bio, Inc. will post -1.23 earnings per share for the current year.

Analysts Set New Price Targets

Several equities analysts have recently weighed in on TSVT shares. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of 2seventy bio in a research note on Thursday, June 27th. Morgan Stanley cut 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 report on Monday, July 29th. One 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 company’s stock. Based on data from MarketBeat, 2seventy bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Insider Activity at 2seventy bio

In other 2seventy bio 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 value of $33,765.12. Following the sale, the insider now owns 156,330 shares of the company’s stock, valued at $675,345.60. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. 7.20% of the stock is owned by corporate 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.