2seventy bio, Inc. (NASDAQ:TSVT) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP decreased its stake in shares of 2seventy bio, Inc. (NASDAQ:TSVT) by 82.8% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 515,955 shares of the company’s stock after selling 2,478,516 shares during the period. Wellington Management Group LLP owned about 1.02% of 2seventy bio worth $2,203,000 as of its most recent filing with the SEC.

Other hedge funds have also bought and sold shares of the company. Madison Avenue Partners LP lifted its position in shares of 2seventy bio by 17.4% in the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock worth $7,493,000 after buying an additional 260,663 shares during the last quarter. Deutsche Bank AG lifted its holdings in 2seventy bio by 15.7% in the third quarter. Deutsche Bank AG now owns 26,134 shares of the company’s stock worth $102,000 after acquiring an additional 3,537 shares during the last quarter. Goldman Sachs Group Inc. boosted its stake in 2seventy bio by 512.4% in the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after acquiring an additional 3,772,556 shares during the period. Public Employees Retirement System of Ohio grew its holdings in shares of 2seventy bio by 112.6% during the third quarter. Public Employees Retirement System of Ohio now owns 84,757 shares of the company’s stock valued at $332,000 after purchasing an additional 44,895 shares during the last quarter. Finally, Graham Capital Management L.P. raised its position in shares of 2seventy bio by 195.0% during the 3rd quarter. Graham Capital Management L.P. now owns 75,891 shares of the company’s stock worth $297,000 after purchasing an additional 50,166 shares during the period. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

TSVT has been the subject of a number of recent research reports. The Goldman Sachs Group downgraded 2seventy bio from a “neutral” rating to a “sell” rating and lowered their price objective for the stock from $5.00 to $2.00 in a research note on Thursday, June 6th. Canaccord Genuity Group raised shares of 2seventy bio to a “strong-buy” rating in a research note on Thursday, May 9th. Canaccord Genuity Group dropped their price target on shares of 2seventy bio from $12.00 to $11.00 and set a “buy” rating on the stock in a research note on Thursday, May 9th. Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research report on Thursday, June 27th. Finally, Citigroup lifted their target price on 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a research note on Monday, April 8th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating, four have given a buy rating and one has assigned a strong buy rating to the company. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average price target of $12.43.

2seventy bio Stock Up 5.2 %

Shares of 2seventy bio stock opened at $4.05 on Tuesday. The business has a fifty day simple moving average of $4.30 and a 200-day simple moving average of $4.55. The firm has a market cap of $208.17 million, a price-to-earnings ratio of -0.93 and a beta of 1.76. 2seventy bio, Inc. has a fifty-two week low of $1.53 and a fifty-two week high of $11.29.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings data on Wednesday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing the consensus estimate of ($0.72) by ($0.09). The business had revenue of $12.44 million for the quarter, compared to the consensus estimate of $11.93 million. 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. Analysts anticipate that 2seventy bio, Inc. will post -0.93 earnings per share for the current fiscal 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.