Citigroup Inc. Has $2.68 Million Stake in 2seventy bio, Inc. (NASDAQ:TSVT)

Citigroup Inc. lifted its position in shares of 2seventy bio, Inc. (NASDAQ:TSVT) by 307.3% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 262,976 shares of the company’s stock after acquiring an additional 198,403 shares during the quarter. Citigroup Inc. owned approximately 0.52% of 2seventy bio worth $2,682,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of TSVT. Metropolitan Life Insurance Co NY acquired a new stake in shares of 2seventy bio during the 1st quarter valued at $25,000. Ameritas Investment Partners Inc. bought a new position in 2seventy bio during the 1st quarter worth $30,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in 2seventy bio during the 2nd quarter worth $33,000. Zurcher Kantonalbank Zurich Cantonalbank raised its position in 2seventy bio by 110.7% during the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 5,239 shares of the company’s stock worth $53,000 after purchasing an additional 2,753 shares during the last quarter. Finally, Denali Advisors LLC bought a new position in 2seventy bio during the 4th quarter worth $56,000. Institutional investors and hedge funds own 98.49% of the company’s stock.

Analyst Upgrades and Downgrades

TSVT has been the subject of several analyst reports. The Goldman Sachs Group lowered their target price on 2seventy bio from $27.00 to $24.00 and set a “buy” rating for the company in a research report on Tuesday, August 15th. Morgan Stanley lowered 2seventy bio from an “overweight” rating to an “equal weight” rating and lowered their target price for the stock from $25.00 to $13.00 in a research report on Friday, July 28th. Guggenheim lowered their target price on 2seventy bio from $27.00 to $26.00 and set a “buy” rating for the company in a research report on Tuesday, August 15th. Finally, Wedbush lowered their price objective on 2seventy bio from $26.00 to $22.00 and set an “outperform” rating for the company in a research report on Friday, July 28th. One research analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat, 2seventy bio currently has a consensus rating of “Moderate Buy” and an average target price of $23.80.

2seventy bio Trading Down 4.4 %

TSVT stock opened at $4.94 on Wednesday. The stock has a 50-day moving average price of $7.79 and a 200-day moving average price of $9.68. 2seventy bio, Inc. has a 1-year low of $4.81 and a 1-year high of $17.56. The firm has a market cap of $249.30 million, a PE ratio of -1.16 and a beta of 1.31.

Insider Transactions at 2seventy bio

In other news, major shareholder Kynam Capital Management, Lp bought 86,414 shares of 2seventy bio stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $5.96 per share, for a total transaction of $515,027.44. Following the purchase, the insider now directly owns 5,142,111 shares in the company, valued at approximately $30,646,981.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, major shareholder Kynam Capital Management, Lp bought 86,414 shares of 2seventy bio stock in a transaction dated Thursday, August 10th. The stock was bought at an average cost of $5.96 per share, for a total transaction of $515,027.44. Following the purchase, the insider now directly owns 5,142,111 shares in the company, valued at approximately $30,646,981.56. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, insider Philip D. Gregory sold 6,159 shares of the firm’s stock in a transaction dated Tuesday, August 22nd. The shares were sold at an average price of $5.49, for a total value of $33,812.91. Following the completion of the sale, the insider now owns 257,250 shares of the company’s stock, valued at $1,412,302.50. The disclosure for this sale can be found here. In the last ninety days, insiders sold 42,434 shares of company stock valued at $245,719. Corporate insiders own 2.60% of the company’s stock.

About 2seventy bio

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 idecabtagene vicleucel; ide-cel or Abecma and bb21217; and chimeric antigen receptor-T cell product candidates for the treatment of multiple myeloma.