2seventy bio, Inc. (NASDAQ:TSVT) Shares Acquired by Western Standard LLC

Western Standard LLC increased its position in 2seventy bio, Inc. (NASDAQ:TSVT) by 175.7% in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor owned 788,350 shares of the company’s stock after purchasing an additional 502,419 shares during the period. 2seventy bio accounts for about 1.5% of Western Standard LLC’s investment portfolio, making the stock its 22nd biggest holding. Western Standard LLC owned about 1.53% of 2seventy bio worth $2,318,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of TSVT. Bank of America Corp DE lifted its holdings in 2seventy bio by 317.1% during the 4th quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock worth $7,397,000 after buying an additional 1,912,771 shares during the last quarter. Regeneron Pharmaceuticals Inc. bought a new position in 2seventy bio during the fourth quarter worth $3,689,000. Toronto Dominion Bank bought a new position in 2seventy bio during the fourth quarter worth $2,352,000. Point72 Asset Management L.P. acquired a new position in 2seventy bio in the fourth quarter worth $913,000. Finally, Monimus Capital Management LP bought a new stake in 2seventy bio during the fourth quarter valued at $775,000. 93.90% of the stock is currently owned by institutional investors and hedge funds.

2seventy bio Stock Performance

NASDAQ TSVT opened at $5.00 on Tuesday. 2seventy bio, Inc. has a 1 year low of $2.29 and a 1 year high of $5.30. The stock’s 50-day moving average price is $4.97 and its two-hundred day moving average price is $3.77. The company has a market cap of $266.15 million, a PE ratio of -2.69 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT) last issued its earnings results on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.11. The business had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $13.96 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. Research analysts forecast that 2seventy bio, Inc. will post -1.46 EPS for the current fiscal year.

Insiders Place Their Bets

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the stock in a transaction that occurred 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 completion of the sale, the chief executive officer now owns 1,121,034 shares in the company, valued at $5,549,118.30. This represents a 0.45% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 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. In the last ninety days, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

TSVT has been the subject of a number of recent research reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research report on Saturday, May 10th. Leerink Partners reissued a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Finally, Morgan Stanley dropped their price objective on 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. One analyst has rated the stock with a sell rating and four have assigned a hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price 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.