Deutsche Bank AG Has $1.10 Million Stock Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Deutsche Bank AG lessened its holdings in 2seventy bio, Inc. (NASDAQ:TSVT) by 72.0% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 372,311 shares of the company’s stock after selling 958,639 shares during the quarter. Deutsche Bank AG owned 0.72% of 2seventy bio worth $1,095,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. China Universal Asset Management Co. Ltd. bought a new stake in 2seventy bio in the 4th quarter valued at about $32,000. BNP Paribas Financial Markets acquired a new stake in shares of 2seventy bio in the fourth quarter valued at approximately $35,000. Raymond James Financial Inc. acquired a new stake in shares of 2seventy bio in the fourth quarter valued at approximately $52,000. Intech Investment Management LLC boosted its stake in shares of 2seventy bio by 41.1% in the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after buying an additional 6,030 shares during the period. Finally, Wells Fargo & Company MN boosted its stake in shares of 2seventy bio by 23.2% in the fourth quarter. Wells Fargo & Company MN now owns 32,532 shares of the company’s stock valued at $96,000 after buying an additional 6,133 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CEO William D. Baird III sold 5,092 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the sale, the chief executive officer now owns 1,121,034 shares of the company’s stock, valued at $5,549,118.30. This trade represents a 0.45% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’s stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The disclosure for this sale can be found here. In the last three months, insiders have sold 5,152,093 shares of company stock worth $25,400,018. Corporate insiders own 7.20% of the company’s stock.

2seventy bio Stock Performance

Shares of TSVT opened at $5.00 on Monday. 2seventy bio, Inc. has a 52-week low of $2.29 and a 52-week high of $5.30. The firm has a market cap of $266.15 million, a price-to-earnings ratio of -2.69 and a beta of 1.04. The business’s fifty day moving average is $4.97 and its 200-day moving average is $3.77.

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

Analyst Upgrades and Downgrades

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

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.