American International Group Inc. Purchases 6,130 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

American International Group Inc. grew its position in 2seventy bio, Inc. (NASDAQ:TSVT) by 34.0% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 24,175 shares of the company’s stock after purchasing an additional 6,130 shares during the quarter. American International Group Inc.’s holdings in 2seventy bio were worth $245,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of TSVT. Metropolitan Life Insurance Co NY bought a new position in 2seventy bio during the first quarter worth $25,000. Ameritas Investment Partners Inc. bought a new position in 2seventy bio during the first quarter worth $30,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in 2seventy bio during the second quarter worth $33,000. Group One Trading L.P. bought a new position in 2seventy bio during the first quarter worth $69,000. Finally, Cubist Systematic Strategies LLC increased its position in 2seventy bio by 896.6% during the first quarter. Cubist Systematic Strategies LLC now owns 4,106 shares of the company’s stock worth $42,000 after acquiring an additional 3,694 shares during the period. Institutional investors own 98.49% of the company’s stock.

2seventy bio Stock Performance

Shares of NASDAQ:TSVT opened at $1.74 on Tuesday. 2seventy bio, Inc. has a 52 week low of $1.65 and a 52 week high of $16.17. The company’s fifty day moving average is $3.35 and its 200-day moving average is $7.14. The company has a market capitalization of $88.09 million, a PE ratio of -0.45 and a beta of 1.49.

Wall Street Analysts Forecast Growth

A number of equities analysts recently issued reports on TSVT shares. SVB Leerink lowered shares of 2seventy bio from an “outperform” rating to a “market perform” rating and set a $6.00 target price on the stock. in a research report on Monday, October 30th. Morgan Stanley lowered shares of 2seventy bio from an “overweight” rating to an “equal weight” rating and dropped their target price for the stock from $25.00 to $13.00 in a research report on Friday, July 28th. Citigroup initiated coverage on shares of 2seventy bio in a research note on Thursday, October 12th. They set a “buy” rating and a $13.00 price target on the stock. The Goldman Sachs Group downgraded shares of 2seventy bio from a “buy” rating to a “neutral” rating and set a $5.00 price target on the stock. in a research note on Wednesday, September 13th. Finally, Leerink Partnrs downgraded shares of 2seventy bio from an “outperform” rating to a “market perform” rating in a research note on Monday, October 30th. Six equities research analysts have rated the stock with a hold rating and one has assigned a buy rating to the company. According to MarketBeat, 2seventy bio currently has a consensus rating of “Hold” and a consensus price target of $11.17.

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