Monimus Capital Management LP Invests $775,000 in 2seventy bio, Inc. (NASDAQ:TSVT)

Monimus Capital Management LP bought a new position in 2seventy bio, Inc. (NASDAQ:TSVT) in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 263,644 shares of the company’s stock, valued at approximately $775,000. Monimus Capital Management LP owned 0.51% of 2seventy bio as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. GSA Capital Partners LLP purchased a new stake in shares of 2seventy bio during the third quarter worth $64,000. Intech Investment Management LLC purchased a new stake in shares of 2seventy bio during the third quarter worth $69,000. FMR LLC raised its holdings in shares of 2seventy bio by 22.0% during the third quarter. FMR LLC now owns 148,545 shares of the company’s stock worth $701,000 after acquiring an additional 26,738 shares in the last quarter. BBR Partners LLC raised its holdings in shares of 2seventy bio by 620.0% during the third quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock worth $850,000 after acquiring an additional 155,000 shares in the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of 2seventy bio during the third quarter worth $244,000. Institutional investors and hedge funds own 93.90% of the company’s stock.

Insider Activity

In other news, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 7.20% of the stock is owned by company insiders.

2seventy bio Stock Performance

Shares of 2seventy bio stock opened at $4.95 on Friday. The firm has a fifty day moving average of $2.72 and a two-hundred day moving average of $3.70. 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 52 week low of $2.29 and a 52 week high of $5.99.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the company. Leerink Partners restated a “market perform” rating and set a $5.00 target price (down from $9.00) on shares of 2seventy bio in a report on Tuesday. Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday. Finally, Morgan Stanley dropped their price objective on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a research note on Friday. One analyst has rated the stock with a sell rating, four have issued a hold rating, two have given a buy rating and one has issued a strong buy rating to the company’s stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $6.67.

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.