Newtyn Management LLC Lowers Stock Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Newtyn Management LLC cut its holdings in shares of 2seventy bio, Inc. (NASDAQ:TSVT) by 0.2% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,534,836 shares of the company’s stock after selling 5,164 shares during the period. 2seventy bio comprises about 1.3% of Newtyn Management LLC’s portfolio, making the stock its 22nd biggest position. Newtyn Management LLC owned about 4.91% of 2seventy bio worth $7,452,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Bank of America Corp DE boosted its holdings in shares of 2seventy bio by 317.1% in the 4th quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock valued at $7,397,000 after buying an additional 1,912,771 shares in the last quarter. Regeneron Pharmaceuticals Inc. purchased a new stake in shares of 2seventy bio in the 4th quarter worth about $3,689,000. Monimus Capital Management LP acquired a new stake in 2seventy bio during the 4th quarter valued at $775,000. Dimensional Fund Advisors LP raised its position in shares of 2seventy bio by 68.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 475,118 shares of the company’s stock valued at $1,397,000 after buying an additional 193,305 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of 2seventy bio during the 4th quarter valued at about $275,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

2seventy bio Stock Performance

NASDAQ TSVT opened at $5.00 on Wednesday. The stock has a market cap of $266.15 million, a PE ratio of -2.69 and a beta of 1.04. 2seventy bio, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.30. The firm’s fifty day moving average price is $4.88 and its two-hundred day moving average price is $3.76.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, beating the consensus estimate of ($0.10) by $0.11. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The business had revenue of $22.94 million for the quarter, compared to analysts’ expectations of $13.96 million. As a group, sell-side analysts predict that 2seventy bio, Inc. will post -1.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts recently commented on TSVT shares. Leerink Partners reissued a “market perform” rating and issued a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a 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 on the stock in a research note on Friday, March 14th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 2seventy bio in a report on Saturday. Finally, Leerink Partnrs downgraded 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, 2seventy bio presently has a consensus rating of “Hold” and a consensus price target of $4.25.

Insider Buying and Selling at 2seventy bio

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the business’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 transaction of $25,205.40. Following the completion of the transaction, the chief executive officer now owns 1,121,034 shares in the company, valued at $5,549,118.30. The trade was a 0.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company’s stock in a transaction dated 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. Insiders sold 5,152,093 shares of company stock valued at $25,400,018 in the last quarter. Company insiders own 7.20% of the company’s stock.

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.