Healthcare of Ontario Pension Plan Trust Fund Acquires Shares of 1,736,600 2seventy bio, Inc. (NASDAQ:TSVT)

Healthcare of Ontario Pension Plan Trust Fund bought a new position in 2seventy bio, Inc. (NASDAQ:TSVT) during the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor bought 1,736,600 shares of the company’s stock, valued at approximately $9,291,000. Healthcare of Ontario Pension Plan Trust Fund owned about 3.38% of 2seventy bio as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Tower Research Capital LLC TRC lifted its holdings in 2seventy bio by 15.2% in the fourth quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock valued at $62,000 after acquiring an additional 1,925 shares during the period. SG Americas Securities LLC boosted its holdings in 2seventy bio by 20.9% during the fourth quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock worth $117,000 after buying an additional 4,715 shares in the last quarter. Pale Fire Capital SE grew its position in 2seventy bio by 67.5% during the fourth quarter. Pale Fire Capital SE now owns 40,688 shares of the company’s stock valued at $174,000 after buying an additional 16,400 shares during the period. Public Employees Retirement System of Ohio increased its holdings in 2seventy bio by 112.6% in the third quarter. Public Employees Retirement System of Ohio now owns 84,757 shares of the company’s stock valued at $332,000 after buying an additional 44,895 shares in the last quarter. Finally, Wedmont Private Capital acquired a new position in shares of 2seventy bio in the first quarter worth about $484,000. 93.90% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Citigroup upped their price target on 2seventy bio from $9.00 to $12.00 and gave the stock a “buy” rating in a report on Monday, April 8th. The Goldman Sachs Group lowered 2seventy bio from a “neutral” rating to a “sell” rating and decreased their target price for the company from $5.00 to $2.00 in a research report on Thursday, June 6th. Canaccord Genuity Group cut their price target on shares of 2seventy bio from $12.00 to $11.00 and set a “buy” rating for the company in a report on Thursday, May 9th. Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research report on Thursday, June 27th. Finally, Canaccord Genuity Group upgraded shares of 2seventy bio to a “strong-buy” rating in a research report on Thursday, May 9th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, four have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $12.43.

2seventy bio Stock Performance

Shares of NASDAQ:TSVT traded up $0.21 during midday trading on Thursday, hitting $4.59. The company’s stock had a trading volume of 210,600 shares, compared to its average volume of 1,007,928. 2seventy bio, Inc. has a 12-month low of $1.53 and a 12-month high of $10.02. The company has a market cap of $235.93 million, a P/E ratio of -1.01 and a beta of 1.76. The business’s 50 day simple moving average is $4.20 and its 200 day simple moving average is $4.59.

2seventy bio (NASDAQ:TSVT) last issued its earnings results 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). 2seventy bio had a negative return on equity of 67.59% and a negative net margin of 313.51%. The company had revenue of $12.44 million for the quarter, compared to analyst estimates of $11.93 million. On average, sell-side analysts predict that 2seventy bio, Inc. will post -0.93 earnings per share for the current fiscal year.

About 2seventy bio

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.