Public Employees Retirement System of Ohio Raises Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Public Employees Retirement System of Ohio grew its holdings in 2seventy bio, Inc. (NASDAQ:TSVT) by 112.6% during the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,757 shares of the company’s stock after purchasing an additional 44,895 shares during the quarter. Public Employees Retirement System of Ohio owned about 0.17% of 2seventy bio worth $332,000 as of its most recent SEC filing.

Other institutional investors have also bought and sold shares of the company. Metropolitan Life Insurance Co NY purchased a new position in 2seventy bio in the 1st quarter worth approximately $25,000. Ameritas Investment Partners Inc. purchased a new position in 2seventy bio in the 1st quarter worth approximately $30,000. Zurcher Kantonalbank Zurich Cantonalbank acquired a new stake in shares of 2seventy bio during the 2nd quarter worth approximately $33,000. US Bancorp DE increased its holdings in shares of 2seventy bio by 754.1% during the 2nd quarter. US Bancorp DE now owns 2,528 shares of the company’s stock worth $26,000 after buying an additional 2,232 shares during the last quarter. Finally, Group One Trading L.P. acquired a new stake in shares of 2seventy bio during the 1st quarter worth approximately $69,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at 2seventy bio

In other news, Director Casdin Capital, Llc acquired 330,000 shares of the firm’s stock in a transaction dated Monday, March 25th. The stock was acquired at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the transaction, the director now owns 1,960,000 shares in the company, valued at $9,937,200. The transaction was disclosed in a document filed with the SEC, which is available at this link. In related news, CEO Nick Leschly sold 72,312 shares of the business’s stock in a transaction on Wednesday, January 3rd. The shares were sold at an average price of $3.87, for a total value of $279,847.44. Following the completion of the sale, the chief executive officer now directly owns 1,087,030 shares of the company’s stock, valued at $4,206,806.10. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Casdin Capital, Llc purchased 330,000 shares of 2seventy bio stock in a transaction that occurred on Monday, March 25th. The stock was bought at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the completion of the transaction, the director now owns 1,960,000 shares of the company’s stock, valued at $9,937,200. The disclosure for this purchase can be found here. In the last three months, insiders sold 135,305 shares of company stock valued at $523,183. Insiders own 2.60% of the company’s stock.

Analysts Set New Price Targets

TSVT has been the subject of a number of recent analyst reports. Wedbush restated a “neutral” rating and set a $5.00 price target on shares of 2seventy bio in a report on Monday, March 18th. TD Cowen restated a “market perform” rating on shares of 2seventy bio in a report on Wednesday, January 31st. SVB Leerink upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $5.00 to $18.00 in a report on Wednesday, January 31st. Finally, Leerink Partnrs upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating in a report on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to data from MarketBeat, 2seventy bio has an average rating of “Hold” and an average price target of $13.33.

2seventy bio Stock Up 8.5 %

NASDAQ:TSVT opened at $5.38 on Thursday. The company has a fifty day simple moving average of $4.91 and a two-hundred day simple moving average of $3.84. The company has a market cap of $276.05 million, a price-to-earnings ratio of -1.22 and a beta of 1.84. 2seventy bio, Inc. has a 52 week low of $1.53 and a 52 week high of $12.69.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings data on Tuesday, March 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate of ($1.22) by $0.11. The business had revenue of $10.68 million during the quarter, compared to analysts’ expectations of $13.91 million. 2seventy bio had a negative net margin of 216.73% and a negative return on equity of 59.19%. During the same period in the previous year, the company earned ($0.60) EPS. On average, analysts expect that 2seventy bio, Inc. will post -1.36 EPS for the current 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 idecabtagene vicleucel; ide-cel or Abecma and bb21217; and chimeric antigen receptor-T cell product candidates for the treatment of multiple myeloma.