Point72 Asset Management L.P. Takes $913,000 Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Point72 Asset Management L.P. bought a new stake in 2seventy bio, Inc. (NASDAQ:TSVT) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor bought 310,637 shares of the company’s stock, valued at approximately $913,000. Point72 Asset Management L.P. owned about 0.60% of 2seventy bio as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of TSVT. ProShare Advisors LLC purchased a new stake in 2seventy bio in the 4th quarter worth approximately $48,000. Graham Capital Management L.P. raised its stake in 2seventy bio by 130.5% in the 4th quarter. Graham Capital Management L.P. now owns 32,426 shares of the company’s stock valued at $95,000 after purchasing an additional 18,357 shares during the last quarter. Bank of America Corp DE raised its stake in 2seventy bio by 317.1% in the 4th quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock valued at $7,397,000 after purchasing an additional 1,912,771 shares during the last quarter. BNP Paribas Financial Markets acquired a new stake in shares of 2seventy bio in the 4th quarter worth $35,000. Finally, PDT Partners LLC increased its stake in shares of 2seventy bio by 25.2% in the 4th quarter. PDT Partners LLC now owns 64,769 shares of the company’s stock worth $190,000 after acquiring an additional 13,056 shares during the last quarter. Hedge funds and other institutional investors own 93.90% of the company’s stock.

2seventy bio Stock Performance

Shares of NASDAQ TSVT opened at $5.00 on Friday. The stock has a market cap of $266.15 million, a P/E ratio of -2.69 and a beta of 1.04. The stock has a 50 day moving average of $4.97 and a two-hundred day moving average of $3.79. 2seventy bio, Inc. has a twelve month low of $2.29 and a twelve month high of $5.30.

2seventy bio (NASDAQ:TSVT) last released its earnings results on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 predict that 2seventy bio, Inc. will post -1.46 earnings per share for the current year.

Insider Buying and Selling

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $25,205.40. Following the sale, the chief executive officer now owns 1,121,034 shares of the company’s stock, valued at approximately $5,549,118.30. This represents a 0.45% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company’s stock in a transaction on Tuesday, March 11th. The shares were 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. Insiders have sold 5,152,093 shares of company stock valued at $25,400,018 over the last quarter. Company insiders own 7.20% of the company’s stock.

Analyst Ratings Changes

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

About 2seventy bio

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.