Bank of New York Mellon Corp Sells 2,893 Shares of 2seventy bio, Inc. (NASDAQ:TSVT)

Bank of New York Mellon Corp reduced its holdings in shares of 2seventy bio, Inc. (NASDAQ:TSVTFree Report) by 1.6% in the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 181,327 shares of the company’s stock after selling 2,893 shares during the quarter. Bank of New York Mellon Corp’s holdings in 2seventy bio were worth $711,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in the business. Exchange Traded Concepts LLC boosted its stake in shares of 2seventy bio by 114.7% during the 3rd quarter. Exchange Traded Concepts LLC now owns 25,838 shares of the company’s stock worth $101,000 after acquiring an additional 13,802 shares during the period. SG Americas Securities LLC acquired a new stake in 2seventy bio during the 3rd quarter worth approximately $89,000. Virginia Retirement Systems ET AL acquired a new stake in 2seventy bio during the 2nd quarter worth approximately $145,000. California State Teachers Retirement System lifted its holdings in 2seventy bio by 7.6% during the 2nd quarter. California State Teachers Retirement System now owns 56,441 shares of the company’s stock worth $571,000 after purchasing an additional 3,969 shares during the last quarter. Finally, Nuveen Asset Management LLC lifted its holdings in 2seventy bio by 31.1% during the 2nd quarter. Nuveen Asset Management LLC now owns 97,912 shares of the company’s stock worth $991,000 after purchasing an additional 23,231 shares during the last quarter. 98.49% of the stock is currently owned by institutional investors.

2seventy bio Price Performance

Shares of NASDAQ TSVT opened at $5.99 on Friday. The stock has a market capitalization of $303.24 million, a PE ratio of -1.53 and a beta of 1.88. The business has a fifty day moving average price of $3.86 and a two-hundred day moving average price of $4.02. 2seventy bio, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $14.41.

2seventy bio (NASDAQ:TSVTGet Free Report) last posted its quarterly earnings results on Tuesday, November 14th. The company reported ($1.00) EPS for the quarter, topping analysts’ consensus estimates of ($1.31) by $0.31. 2seventy bio had a negative return on equity of 47.12% and a negative net margin of 126.06%. The company had revenue of $12.03 million during the quarter, compared to analysts’ expectations of $26.39 million. On average, equities analysts expect that 2seventy bio, Inc. will post -3.95 EPS for the current year.

Insider Transactions at 2seventy bio

In other news, insider Philip D. Gregory sold 25,613 shares of the business’s stock in a transaction on Wednesday, January 3rd. The stock was sold at an average price of $3.87, for a total transaction of $99,122.31. Following the completion of the transaction, the insider now owns 231,637 shares of the company’s stock, valued at approximately $896,435.19. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other 2seventy bio news, insider Philip D. Gregory sold 25,613 shares of the stock in a transaction dated Wednesday, January 3rd. The stock was sold at an average price of $3.87, for a total value of $99,122.31. Following the completion of the transaction, the insider now directly owns 231,637 shares in the company, valued at $896,435.19. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, COO William D. Baird III sold 33,651 shares of the firm’s stock in a transaction that occurred on Wednesday, January 3rd. The shares were sold at an average price of $3.87, for a total transaction of $130,229.37. Following the completion of the transaction, the chief operating officer now owns 162,715 shares of the company’s stock, valued at approximately $629,707.05. The disclosure for this sale can be found here. In the last quarter, insiders sold 135,305 shares of company stock valued at $523,183. Corporate insiders own 2.60% of the company’s stock.

Wall Street Analyst Weigh In

TSVT has been the subject of several research reports. Wedbush cut 2seventy bio from an “outperform” rating to a “neutral” rating in a report on Monday, November 20th. Leerink Partnrs raised 2seventy bio from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. SVB Leerink raised 2seventy bio from a “market perform” rating to an “outperform” rating and lifted their price objective for the company from $5.00 to $18.00 in a report on Wednesday, January 31st. Finally, TD Cowen reaffirmed a “market perform” rating on shares of 2seventy bio in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $13.17.

Check Out Our Latest Research Report on 2seventy bio

2seventy bio Company Profile

(Free Report)

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 idecabtagene vicleucel; ide-cel or Abecma and bb21217; and chimeric antigen receptor-T cell product candidates for the treatment of multiple myeloma.

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Institutional Ownership by Quarter for 2seventy bio (NASDAQ:TSVT)

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