2seventy bio, Inc. (NASDAQ:TSVT) Shares Sold by Exchange Traded Concepts LLC

Exchange Traded Concepts LLC lessened its holdings in 2seventy bio, Inc. (NASDAQ:TSVT) by 36.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 34,816 shares of the company’s stock after selling 20,064 shares during the period. Exchange Traded Concepts LLC owned 0.07% of 2seventy bio worth $164,000 at the end of the most recent reporting period.

Several other large investors have also modified their holdings of the business. Goldman Sachs Group Inc. grew 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 buying an additional 3,772,556 shares during the last quarter. Susquehanna Fundamental Investments LLC purchased a new stake in 2seventy bio during the 1st quarter worth about $740,000. Healthcare of Ontario Pension Plan Trust Fund purchased a new stake in 2seventy bio during the 1st quarter worth about $9,291,000. Price T Rowe Associates Inc. MD lifted its holdings 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 purchasing an additional 2,893 shares in the last quarter. Finally, Public Employees Retirement System of Ohio boosted its stake 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 worth $146,000 after purchasing an additional 26,370 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

2seventy bio Stock Down 0.4 %

Shares of TSVT opened at $4.97 on Tuesday. The firm has a market cap of $255.96 million, a price-to-earnings ratio of -1.62 and a beta of 1.77. The business’s 50 day moving average is $4.72 and its two-hundred day moving average is $4.52. 2seventy bio, Inc. has a 52-week low of $1.53 and a 52-week high of $6.40.

2seventy bio (NASDAQ:TSVT) last issued its earnings results on Wednesday, August 7th. The company reported ($0.29) earnings per share for the quarter, topping analysts’ consensus estimates of ($0.35) by $0.06. 2seventy bio had a negative net margin of 354.16% and a negative return on equity of 66.01%. The company had revenue of $8.97 million for the quarter, compared to analysts’ expectations of $11.43 million. On average, equities analysts expect that 2seventy bio, Inc. will post -1.23 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on TSVT shares. Wedbush reissued a “neutral” rating and set a $5.00 price target on shares of 2seventy bio in a research note on Thursday, June 27th. Morgan Stanley decreased their price target 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. One equities research analyst has rated the stock with a sell rating, three have issued a hold rating, four have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat, 2seventy bio currently has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

Insider Buying and Selling at 2seventy bio

In related news, insider Jessica Snow sold 7,816 shares of the 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 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 Securities & Exchange Commission, which is accessible through the SEC website. 7.20% of the stock is currently owned by company 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.