Stonepine Capital Management LLC Makes New $385,000 Investment in 2seventy bio, Inc. (NASDAQ:TSVT)

Stonepine Capital Management LLC bought a new position in shares of 2seventy bio, Inc. (NASDAQ:TSVT) in the second quarter, according to the company in its most recent filing with the SEC. The fund bought 100,000 shares of the company’s stock, valued at approximately $385,000. 2seventy bio accounts for 0.4% of Stonepine Capital Management LLC’s investment portfolio, making the stock its 22nd biggest position. Stonepine Capital Management LLC owned about 0.19% of 2seventy bio as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also recently bought and sold shares of TSVT. SkyView Investment Advisors LLC grew its stake in 2seventy bio by 25.0% during the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the company’s stock worth $48,000 after buying an additional 2,500 shares during the period. Susquehanna Fundamental Investments LLC boosted its position in 2seventy bio by 39.1% during the 2nd quarter. Susquehanna Fundamental Investments LLC now owns 192,319 shares of the company’s stock worth $740,000 after purchasing an additional 54,076 shares during the period. Marshall Wace LLP increased its holdings in 2seventy bio by 50.4% in the 2nd quarter. Marshall Wace LLP now owns 667,023 shares of the company’s stock valued at $2,568,000 after purchasing an additional 223,408 shares in the last quarter. Venator Management LLC raised its position in 2seventy bio by 49.2% in the second quarter. Venator Management LLC now owns 485,000 shares of the company’s stock valued at $1,867,000 after purchasing an additional 160,000 shares during the period. Finally, American Century Companies Inc. boosted its position in shares of 2seventy bio by 16.6% in the second quarter. American Century Companies Inc. now owns 79,953 shares of the company’s stock worth $308,000 after buying an additional 11,363 shares during the period. Institutional investors and hedge funds own 93.90% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have recently weighed in on the stock. The Goldman Sachs Group downgraded shares of 2seventy bio from a “neutral” rating to a “sell” rating and decreased their target price for the company from $5.00 to $2.00 in a research note on Thursday, June 6th. Morgan Stanley cut their price objective on 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research note on Monday, July 29th. Finally, Wedbush reiterated a “neutral” rating and issued a $5.00 price target on shares of 2seventy bio in a report on Thursday, June 27th. One analyst has rated the stock with a sell rating, three have given a hold rating, four have given a buy rating and one has given a strong buy rating to the company’s stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average price target of $9.00.

2seventy bio Stock Performance

NASDAQ:TSVT opened at $4.72 on Tuesday. The business has a 50 day simple moving average of $4.58 and a 200 day simple moving average of $4.52. 2seventy bio, Inc. has a 12-month low of $1.53 and a 12-month high of $6.40.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate of ($0.35) by $0.06. The business had revenue of $8.97 million during the quarter, compared to analyst estimates 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, equities research analysts predict that 2seventy bio, Inc. will post -1.33 EPS for the current year.

Insider Buying and Selling at 2seventy bio

In related news, insider Jessica Snow sold 7,816 shares of the firm’s stock in a transaction that occurred on 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 directly owns 156,330 shares in the company, valued at approximately $675,345.60. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. 7.20% of the stock is owned by company insiders.

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.