Venator Management LLC Has $1.69 Million Stake in 2seventy bio, Inc. (NASDAQ:TSVT)

Venator Management LLC lifted its stake in 2seventy bio, Inc. (NASDAQ:TSVT) by 9.5% in the 4th quarter, Holdings Channel reports. The institutional investor owned 575,000 shares of the company’s stock after acquiring an additional 50,000 shares during the period. 2seventy bio comprises about 0.5% of Venator Management LLC’s holdings, making the stock its 17th biggest position. Venator Management LLC’s holdings in 2seventy bio were worth $1,690,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Erste Asset Management GmbH bought a new stake in shares of 2seventy bio during the third quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. bought a new position in shares of 2seventy bio during the 4th quarter worth about $32,000. Raymond James Financial Inc. acquired a new stake in shares of 2seventy bio during the 4th quarter valued at about $52,000. Readystate Asset Management LP bought a new position in 2seventy bio during the third quarter worth about $53,000. Finally, Intech Investment Management LLC boosted its holdings in 2seventy bio by 41.1% during the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after purchasing an additional 6,030 shares in the last quarter. 93.90% of the stock is currently owned by institutional investors.

Insider Activity at 2seventy bio

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm’s stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, CEO William D. Baird III sold 5,092 shares of 2seventy bio stock in a transaction dated Monday, March 17th. The stock was 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 of the company’s stock, valued at approximately $5,549,118.30. The trade was a 0.45 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 5,152,093 shares of company stock valued at $25,400,018 over the last quarter. Corporate insiders own 7.20% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on TSVT shares. Leerink Partnrs cut 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. Leerink Partners reiterated a “market perform” rating and set a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Weiss Ratings restated a “sell (e+)” rating on shares of 2seventy bio in a research note on Saturday, March 22nd. Finally, Morgan Stanley dropped their target price on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research report on Friday, March 14th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average target price of $6.67.

2seventy bio Stock Performance

Shares of TSVT stock opened at $4.95 on Monday. 2seventy bio, Inc. has a 52 week low of $2.29 and a 52 week high of $5.99. The stock has a market capitalization of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. The stock’s fifty day moving average is $3.24 and its 200-day moving average is $3.72.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data on Tuesday, March 25th. The company reported ($0.31) EPS for the quarter, missing analysts’ consensus estimates of ($0.23) by ($0.08). 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The company had revenue of $2.93 million for the quarter, compared to the consensus estimate of $12.84 million. As a group, analysts forecast that 2seventy bio, Inc. will post -1.46 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.