Eversept Partners LP Boosts Stake in 2seventy bio, Inc. (NASDAQ:TSVT)

Eversept Partners LP grew its holdings in shares of 2seventy bio, Inc. (NASDAQ:TSVT) by 0.6% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 1,003,678 shares of the company’s stock after acquiring an additional 5,599 shares during the quarter. Eversept Partners LP owned about 1.95% of 2seventy bio worth $2,951,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently modified their holdings of TSVT. Rhumbline Advisers boosted its stake in shares of 2seventy bio by 9.5% during the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock valued at $249,000 after purchasing an additional 7,379 shares during the period. Geode Capital Management LLC grew its stake in shares of 2seventy bio by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock worth $5,553,000 after acquiring an additional 13,144 shares during the last quarter. State Street Corp raised its position in shares of 2seventy bio by 1.5% in the 3rd quarter. State Street Corp now owns 1,058,773 shares of the company’s stock worth $4,997,000 after purchasing an additional 15,638 shares during the last quarter. American Century Companies Inc. grew its position in 2seventy bio by 6.6% during the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company’s stock valued at $275,000 after purchasing an additional 5,785 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its stake in 2seventy bio by 3.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 428,660 shares of the company’s stock valued at $1,260,000 after purchasing an additional 15,061 shares in the last quarter. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently commented on TSVT shares. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research report on Tuesday, April 8th. Leerink Partnrs downgraded 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their price target on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. Finally, Leerink Partners restated a “market perform” rating and set a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $5.60.

Insider Transactions at 2seventy bio

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the 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 transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO William D. Baird III sold 5,092 shares of the firm’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. This trade represents a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 5,152,093 shares of company stock worth $25,400,018 in the last ninety days. Insiders own 7.20% of the company’s stock.

2seventy bio Trading Up 0.2 %

NASDAQ TSVT opened at $4.99 on Tuesday. 2seventy bio, Inc. has a 12 month low of $2.29 and a 12 month high of $5.30. The company’s 50-day moving average price is $4.11 and its 200-day moving average price is $3.75. The stock has a market cap of $261.17 million, a PE ratio of -2.68 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data on Tuesday, March 25th. The company reported ($0.31) earnings per share (EPS) for the quarter, missing the consensus estimate of ($0.23) by ($0.08). The business had revenue of $2.93 million for the quarter, compared to analysts’ expectations of $12.84 million. 2seventy bio had a negative net margin of 207.25% and a negative return on equity of 53.65%. As a group, sell-side analysts forecast that 2seventy bio, Inc. will post -1.46 earnings per share for the current year.

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