William D. Baird III Sells 5,092 Shares of 2seventy bio, Inc. (NASDAQ:TSVT) Stock

by · The Cerbat Gem

2seventy bio, Inc. (NASDAQ:TSVT – Get Free Report) CEO William D. Baird III sold 5,092 shares of the firm’s stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the completion of the sale, the chief executive officer now owns 1,121,034 shares in the company, valued at $5,549,118.30. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link.

2seventy bio Stock Performance

Shares of 2seventy bio stock remained flat at $4.96 during midday trading on Wednesday. The company had a trading volume of 468,446 shares, compared to its average volume of 620,134. The firm has a 50 day simple moving average of $2.85 and a 200 day simple moving average of $3.69. The company has a market capitalization of $255.88 million, a price-to-earnings ratio of -2.67 and a beta of 1.73. 2seventy bio, Inc. has a 1-year low of $2.29 and a 1-year high of $5.99.

Analyst Upgrades and Downgrades

Several equities analysts recently issued reports on the company. Leerink Partners restated a “market perform” rating and set a $5.00 price target (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a research report on Friday, March 7th. Leerink Partnrs cut 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Finally, Morgan Stanley decreased their price target 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 analyst has rated the stock with a sell rating, four have issued a hold rating, two have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus price target of $6.67.

Check Out Our Latest Research Report on TSVT

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently made changes to their positions in the stock. Bank of America Corp DE grew its holdings in shares of 2seventy bio by 317.1% in the 4th quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock worth $7,397,000 after purchasing an additional 1,912,771 shares during the last quarter. Regeneron Pharmaceuticals Inc. bought a new stake in 2seventy bio during the fourth quarter worth about $3,689,000. Geode Capital Management LLC grew its stake in 2seventy bio by 1.1% during the third 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 during the last quarter. State Street Corp raised its stake in shares of 2seventy bio by 1.5% in the third quarter. State Street Corp now owns 1,058,773 shares of the company’s stock valued at $4,997,000 after acquiring an additional 15,638 shares during the last quarter. Finally, Eversept Partners LP boosted its holdings in shares of 2seventy bio by 0.6% in the 4th quarter. Eversept Partners LP now owns 1,003,678 shares of the company’s stock worth $2,951,000 after acquiring an additional 5,599 shares in the last quarter. 93.90% of the stock is owned by institutional investors.

2seventy bio Company Profile

(Get Free Report)

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.

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