Price T Rowe Associates Inc. MD Cuts Stock Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Price T Rowe Associates Inc. MD cut its stake in 2seventy bio, Inc. (NASDAQ:TSVT) by 37.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 18,225 shares of the company’s stock after selling 10,987 shares during the period. Price T Rowe Associates Inc. MD’s holdings in 2seventy bio were worth $54,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently bought and sold shares of TSVT. Rhumbline Advisers raised its holdings in shares of 2seventy bio by 9.5% in the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock worth $249,000 after buying an additional 7,379 shares during the last quarter. Dimensional Fund Advisors LP increased its position in shares of 2seventy bio by 68.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 475,118 shares of the company’s stock valued at $1,397,000 after acquiring an additional 193,305 shares during the period. Barclays PLC raised its stake in 2seventy bio by 12.7% in the 4th quarter. Barclays PLC now owns 90,795 shares of the company’s stock worth $267,000 after acquiring an additional 10,201 shares during the last quarter. American Century Companies Inc. raised its stake in 2seventy bio by 6.6% in the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company’s stock worth $275,000 after acquiring an additional 5,785 shares during the last quarter. Finally, Wells Fargo & Company MN lifted its position in 2seventy bio by 23.2% during the 4th quarter. Wells Fargo & Company MN now owns 32,532 shares of the company’s stock worth $96,000 after acquiring an additional 6,133 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of brokerages have recently weighed in on TSVT. Morgan Stanley cut their price objective on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday, March 14th. Leerink Partnrs downgraded shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. Leerink Partners reissued a “market perform” rating and set a $5.00 price target (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a research note on Saturday, May 10th. One equities research analyst has rated the stock with a sell rating and four have issued a hold rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus target price of $4.25.

Insider Activity

In related news, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction on Monday, March 17th. The shares were sold at an average price of $4.95, for a total value of $25,205.40. Following the transaction, the chief executive officer now directly owns 1,121,034 shares in the company, valued at $5,549,118.30. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The disclosure for this sale can be found here. Over the last quarter, insiders sold 5,152,093 shares of company stock valued at $25,400,018. 7.20% of the stock is currently owned by company insiders.

2seventy bio Price Performance

Shares of NASDAQ TSVT opened at $5.00 on Monday. The firm has a 50-day simple moving average of $4.97 and a 200-day simple moving average of $3.76. The stock has a market capitalization of $266.15 million, a price-to-earnings ratio of -2.69 and a beta of 1.04. 2seventy bio, Inc. has a 52 week low of $2.29 and a 52 week high of $5.30.

2seventy bio (NASDAQ:TSVT) last announced its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share for the quarter, topping the consensus estimate of ($0.10) by $0.11. The company had revenue of $22.94 million during the quarter, compared to analyst estimates of $13.96 million. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. As a group, equities research analysts expect that 2seventy bio, Inc. will post -1.46 EPS for the current year.

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 Abecma, a chimeric antigen receptor T-cell product candidates for the treatment of multiple myeloma.