Stonepine Capital Management LLC Has $882,000 Stock Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Stonepine Capital Management LLC lifted its stake in 2seventy bio, Inc. (NASDAQ:TSVT) by 200.0% during the fourth quarter, Holdings Channel.com reports. The fund owned 300,000 shares of the company’s stock after buying an additional 200,000 shares during the period. Stonepine Capital Management LLC’s holdings in 2seventy bio were worth $882,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. China Universal Asset Management Co. Ltd. acquired a new stake in shares of 2seventy bio in the fourth quarter valued at about $32,000. BNP Paribas Financial Markets acquired a new stake in shares of 2seventy bio in the fourth quarter valued at about $35,000. ProShare Advisors LLC acquired a new stake in shares of 2seventy bio in the fourth quarter valued at about $48,000. Raymond James Financial Inc. acquired a new stake in shares of 2seventy bio in the fourth quarter valued at about $52,000. Finally, Intech Investment Management LLC increased its position in shares of 2seventy bio by 41.1% in the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock valued at $61,000 after acquiring an additional 6,030 shares during the last quarter. Institutional investors and hedge funds own 93.90% of the company’s stock.

2seventy bio Stock Performance

2seventy bio stock opened at $5.00 on Friday. 2seventy bio, Inc. has a 52 week low of $2.29 and a 52 week high of $5.30. The stock has a market capitalization of $266.15 million, a P/E ratio of -2.69 and a beta of 1.04. The stock has a 50-day simple moving average of $4.97 and a 200 day simple moving average of $3.77.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data on Wednesday, May 7th. The company reported $0.01 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 company had revenue of $22.94 million during the quarter, compared to analysts’ expectations of $13.96 million. Research analysts forecast that 2seventy bio, Inc. will post -1.46 earnings per share for the current year.

Wall Street Analyst Weigh In

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

Insider Transactions at 2seventy bio

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the business’s stock in a transaction that occurred on Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total value of $25,350,607.23. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO William D. Baird III sold 5,092 shares of the business’s stock in a transaction that occurred on Monday, March 17th. The shares were 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. This trade represents 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 worth $25,400,018 over the last quarter. Company insiders own 7.20% of the company’s stock.

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.