Raymond James Financial Inc. Purchases New Shares in 2seventy bio, Inc. (NASDAQ:TSVT)

Raymond James Financial Inc. acquired a new stake in shares of 2seventy bio, Inc. (NASDAQ:TSVT) during the fourth quarter, HoldingsChannel reports. The fund acquired 17,547 shares of the company’s stock, valued at approximately $52,000.

Several other institutional investors have also added to or reduced their stakes in TSVT. Wells Fargo & Company MN increased its position in shares of 2seventy bio by 23.2% during the fourth quarter. Wells Fargo & Company MN now owns 32,532 shares of the company’s stock valued at $96,000 after buying an additional 6,133 shares during the period. Venator Management LLC boosted its position in 2seventy bio by 9.5% during the 4th quarter. Venator Management LLC now owns 575,000 shares of the company’s stock valued at $1,690,000 after acquiring an additional 50,000 shares in the last quarter. American Century Companies Inc. grew its holdings in shares of 2seventy bio by 6.6% during the 4th quarter. American Century Companies Inc. now owns 93,552 shares of the company’s stock worth $275,000 after acquiring an additional 5,785 shares during the period. Intech Investment Management LLC grew its holdings in shares of 2seventy bio by 41.1% during the 4th quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock worth $61,000 after acquiring an additional 6,030 shares during the period. Finally, Monimus Capital Management LP bought a new position in shares of 2seventy bio in the 4th quarter worth approximately $775,000. 93.90% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

2seventy bio Price Performance

Shares of TSVT opened at $5.00 on Thursday. The stock has a market cap of $266.15 million, a P/E ratio of -2.69 and a beta of 1.04. The business’s 50 day moving average price is $4.92 and its 200-day moving average price is $3.77. 2seventy bio, Inc. has a 52 week low of $2.29 and a 52 week high of $5.30.

2seventy bio (NASDAQ:TSVT) last released its earnings results on Wednesday, May 7th. The company reported $0.01 EPS for the quarter, topping the consensus estimate of ($0.10) by $0.11. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. The business had revenue of $22.94 million for the quarter, compared to the consensus estimate of $13.96 million. On average, equities analysts anticipate that 2seventy bio, Inc. will post -1.46 EPS for the current year.

Insider Transactions at 2seventy bio

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the company’s 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 in the company, valued at $5,549,118.30. This represents a 0.45% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 5,152,093 shares of company stock worth $25,400,018. Corporate insiders own 7.20% of the company’s stock.

2seventy bio Company 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.