SG Americas Securities LLC Takes $80,000 Position in 2seventy bio, Inc. (NASDAQ:TSVT)

SG Americas Securities LLC purchased a new position in 2seventy bio, Inc. (NASDAQ:TSVT) during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm purchased 16,890 shares of the company’s stock, valued at approximately $80,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of 2seventy bio during the first quarter worth approximately $9,291,000. Marshall Wace LLP increased its holdings in 2seventy bio by 50.4% during the 2nd quarter. Marshall Wace LLP now owns 667,023 shares of the company’s stock worth $2,568,000 after purchasing an additional 223,408 shares during the period. Venator Management LLC lifted its holdings 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 worth $1,867,000 after buying an additional 160,000 shares during the period. Jacobs Levy Equity Management Inc. purchased a new stake in shares of 2seventy bio in the 1st quarter worth $2,031,000. Finally, Bank of New York Mellon Corp grew its position in shares of 2seventy bio by 5.4% during the 2nd quarter. Bank of New York Mellon Corp now owns 196,959 shares of the company’s stock worth $758,000 after buying an additional 10,077 shares in the last quarter. Institutional investors own 93.90% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Morgan Stanley lowered 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. One research 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. Based on data from MarketBeat, 2seventy bio has an average rating of “Moderate Buy” and an average price target of $9.00.

Insider Transactions at 2seventy bio

In related news, insider Jessica Snow sold 7,816 shares of the business’s stock in a transaction on Wednesday, August 14th. The stock was sold at an average price of $4.32, for a total transaction of $33,765.12. Following the transaction, the insider now directly owns 156,330 shares in the company, valued at $675,345.60. The trade was a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Insiders own 7.20% of the company’s stock.

2seventy bio Price Performance

TSVT opened at $4.98 on Tuesday. The firm has a market capitalization of $256.47 million, a PE ratio of -1.62 and a beta of 1.77. The business’s 50-day moving average is $4.76 and its two-hundred day moving average is $4.51. 2seventy bio, Inc. has a 1 year low of $1.53 and a 1 year high of $6.40.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings data on Wednesday, August 7th. The company reported ($0.29) EPS for the quarter, topping the consensus estimate 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 firm had revenue of $8.97 million during the quarter, compared to analyst estimates of $11.43 million. As a group, sell-side analysts expect that 2seventy bio, Inc. will post -1.23 EPS for the current year.

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.