2seventy bio, Inc. (NASDAQ:TSVT) Stock Holdings Increased by Bank of New York Mellon Corp

Bank of New York Mellon Corp boosted its stake in shares of 2seventy bio, Inc. (NASDAQ:TSVT) by 5.4% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 196,959 shares of the company’s stock after buying an additional 10,077 shares during the period. Bank of New York Mellon Corp owned about 0.38% of 2seventy bio worth $758,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in TSVT. Pale Fire Capital SE increased its holdings in 2seventy bio by 67.5% in the fourth quarter. Pale Fire Capital SE now owns 40,688 shares of the company’s stock worth $174,000 after buying an additional 16,400 shares during the last quarter. Engine Capital Management LP boosted its stake in shares of 2seventy bio by 337.1% in the 4th quarter. Engine Capital Management LP now owns 1,494,304 shares of the company’s stock valued at $6,381,000 after purchasing an additional 1,152,434 shares in the last quarter. Madison Avenue Partners LP grew its stake in 2seventy bio by 17.4% during the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after buying an additional 260,663 shares during the last quarter. Goldman Sachs Group Inc. increased its holdings in 2seventy bio by 512.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after purchasing an additional 3,772,556 shares in the last quarter. Finally, Wedmont Private Capital acquired a new stake in shares of 2seventy bio in the first quarter valued at $484,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

2seventy bio Price Performance

TSVT stock opened at $5.05 on Monday. The stock has a market capitalization of $259.60 million, a PE ratio of -1.16 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 company’s 50-day moving average is $4.58 and its 200-day moving average is $4.52.

2seventy bio (NASDAQ:TSVT) last released its earnings results on Wednesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating the consensus estimate of ($0.35) by $0.06. 2seventy bio had a negative return on equity of 66.01% and a negative net margin of 354.16%. The company had revenue of $8.97 million during the quarter, compared to analyst estimates of $11.43 million. On average, analysts anticipate that 2seventy bio, Inc. will post -0.79 earnings per share for the current fiscal year.

Insider Buying and Selling at 2seventy bio

In other news, insider Jessica Snow sold 7,816 shares of the company’s stock in a transaction on Wednesday, August 14th. The shares were sold at an average price of $4.32, for a total value of $33,765.12. Following the transaction, the insider now owns 156,330 shares of the company’s stock, valued at $675,345.60. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

TSVT has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded shares of 2seventy bio from a “neutral” rating to a “sell” rating and dropped their price target for the stock from $5.00 to $2.00 in a research note on Thursday, June 6th. Wedbush reaffirmed 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 dropped their target price on 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus 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.