Healthcare of Ontario Pension Plan Trust Fund Sells 268,100 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

Healthcare of Ontario Pension Plan Trust Fund cut its stake in 2seventy bio, Inc. (NASDAQ:TSVT) by 15.4% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,468,500 shares of the company’s stock after selling 268,100 shares during the period. Healthcare of Ontario Pension Plan Trust Fund owned approximately 2.85% of 2seventy bio worth $5,654,000 as of its most recent SEC filing.

Other hedge funds have also recently bought and sold shares of the company. Madison Avenue Partners LP raised its stake in shares of 2seventy bio by 17.4% in the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock valued at $7,493,000 after buying an additional 260,663 shares in the last quarter. Jacobs Levy Equity Management Inc. acquired a new position in shares of 2seventy bio in the 1st quarter valued at $2,031,000. Venator Management LLC raised its stake in shares of 2seventy bio by 49.2% in the 2nd quarter. Venator Management LLC now owns 485,000 shares of the company’s stock valued at $1,867,000 after buying an additional 160,000 shares in the last quarter. Goldman Sachs Group Inc. raised its stake in shares of 2seventy bio by 512.4% in the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after buying an additional 3,772,556 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC acquired a new position in shares of 2seventy bio in the 1st quarter valued at $740,000. 93.90% of the stock is owned by institutional investors.

Insider Activity

In other news, insider Jessica Snow sold 7,816 shares of the firm’s stock in a transaction dated 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 approximately $675,345.60. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on TSVT. Morgan Stanley dropped 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 note on Monday, July 29th. Wedbush reiterated a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a research report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have assigned a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, 2seventy bio presently has a consensus rating of “Moderate Buy” and an average price target of $9.00.

2seventy bio Trading Up 1.3 %

TSVT opened at $4.81 on Friday. The stock has a market capitalization of $247.72 million, a PE ratio of -1.11 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 firm has a 50-day moving average price of $4.60 and a two-hundred day moving average price of $4.54.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.29) earnings per share for the quarter, beating the consensus estimate of ($0.35) by $0.06. The firm had revenue of $8.97 million during 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, research analysts predict that 2seventy bio, Inc. will post -1.23 EPS for the current year.

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.