Charles Schwab Investment Management Inc. Has $1.26 Million Position in 2seventy bio, Inc. (NASDAQ:TSVT)

Charles Schwab Investment Management Inc. grew its holdings in 2seventy bio, Inc. (NASDAQ:TSVT) by 3.6% in the fourth quarter, HoldingsChannel reports. The institutional investor owned 428,660 shares of the company’s stock after acquiring an additional 15,061 shares during the period. Charles Schwab Investment Management Inc.’s holdings in 2seventy bio were worth $1,260,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Rhumbline Advisers raised its position in 2seventy bio by 9.5% in the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock worth $249,000 after purchasing an additional 7,379 shares in the last quarter. China Universal Asset Management Co. Ltd. bought a new stake in shares of 2seventy bio in the 4th quarter valued at approximately $32,000. Geode Capital Management LLC raised its holdings in shares of 2seventy bio by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock worth $5,553,000 after buying an additional 13,144 shares in the last quarter. XTX Topco Ltd lifted its position in shares of 2seventy bio by 61.1% during the 3rd quarter. XTX Topco Ltd now owns 24,416 shares of the company’s stock worth $115,000 after buying an additional 9,257 shares during the period. Finally, Wellington Management Group LLP boosted its stake in 2seventy bio by 9.0% in the 3rd quarter. Wellington Management Group LLP now owns 262,040 shares of the company’s stock valued at $1,237,000 after buying an additional 21,673 shares in the last quarter. 93.90% of the stock is owned by institutional investors.

2seventy bio Price Performance

2seventy bio stock opened at $4.95 on Friday. The stock has a 50-day simple moving average of $3.24 and a 200 day simple moving average of $3.72. The stock has a market capitalization of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73. 2seventy bio, Inc. has a 12-month low of $2.29 and a 12-month high of $5.99.

2seventy bio (NASDAQ:TSVT) last announced its earnings results on Tuesday, March 25th. The company reported ($0.31) earnings per share 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 during the quarter, compared to the consensus estimate of $12.84 million. As a group, sell-side analysts anticipate that 2seventy bio, Inc. will post -1.46 EPS for the current year.

Insider Buying and Selling

In related news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the transaction, the chief executive officer now owns 1,121,034 shares in the company, 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 5,152,093 shares of company stock worth $25,400,018 in the last quarter. Insiders own 7.20% of the company’s stock.

Analyst Upgrades and Downgrades

TSVT has been the subject of several recent analyst reports. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Weiss Ratings reaffirmed a “sell (e+)” rating on shares of 2seventy bio in a report on Saturday, March 22nd. Leerink Partners reissued a “market perform” rating and set a $5.00 price target (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Finally, Morgan Stanley decreased their price objective on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday, March 14th. One research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $6.67.

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.