Arizona State Retirement System Takes $95,000 Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Arizona State Retirement System purchased a new stake in shares of 2seventy bio, Inc. (NASDAQ:TSVT – Get Rating) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,152 shares of the company’s stock, valued at approximately $95,000.

Several other institutional investors and hedge funds have also recently modified their holdings of TSVT. Metropolitan Life Insurance Co NY bought a new stake in shares of 2seventy bio during the first quarter valued at approximately $25,000. Ameritas Investment Partners Inc. bought a new position in 2seventy bio in the first quarter worth approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new position in 2seventy bio in the second quarter worth approximately $33,000. Point72 Hong Kong Ltd raised its stake in 2seventy bio by 371.0% in the third quarter. Point72 Hong Kong Ltd now owns 3,688 shares of the company’s stock worth $54,000 after buying an additional 2,905 shares in the last quarter. Finally, Royal Bank of Canada raised its stake in 2seventy bio by 25.9% in the third quarter. Royal Bank of Canada now owns 4,430 shares of the company’s stock worth $66,000 after buying an additional 910 shares in the last quarter. Institutional investors own 89.47% of the company’s stock.

Analyst Ratings Changes

Separately, Wedbush reissued an “outperform” rating and issued a $26.00 price objective (up previously from $24.00) on shares of 2seventy bio in a research note on Thursday, May 4th. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the stock has a consensus rating of “Buy” and an average target price of $29.00.

2seventy bio Trading Down 4.4 %

Shares of TSVT stock opened at $11.42 on Friday. The business’s fifty day simple moving average is $10.12 and its 200-day simple moving average is $11.68. The company has a market cap of $573.28 million, a PE ratio of -2.09 and a beta of 1.57. 2seventy bio, Inc. has a 12-month low of $8.25 and a 12-month high of $18.88.

2seventy bio (NASDAQ:TSVT – Get Rating) last issued its quarterly earnings results on Thursday, March 16th. The company reported ($0.60) earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of ($1.53) by $0.93. The business had revenue of $56.18 million for the quarter, compared to the consensus estimate of $16.72 million. 2seventy bio had a negative return on equity of 60.95% and a negative net margin of 172.80%. On average, equities analysts forecast that 2seventy bio, Inc. will post -4.33 earnings per share for the current year.

About 2seventy bio

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2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. Its products pipeline includes idecabtagene vicleucel; ide-cel or Abecma and bb21217; and CAR-T cell product candidates for the treatment of multiple myeloma.