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

2seventy bio, Inc. (NASDAQ:TSVT) CEO William D. Baird III sold 5,092 shares of the stock in a transaction on Monday, March 17th. The shares were 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 directly owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website.

2seventy bio Price Performance

Shares of 2seventy bio stock opened at $4.95 on Friday. 2seventy bio, Inc. has a 1 year low of $2.29 and a 1 year high of $5.99. The firm’s 50-day moving average is $2.94 and its two-hundred day moving average is $3.71. The stock has a market cap of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73.

Institutional Inflows and Outflows

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Erste Asset Management GmbH bought a new position in 2seventy bio during the 3rd quarter worth about $25,000. China Universal Asset Management Co. Ltd. bought a new position in 2seventy bio during the 4th quarter worth about $32,000. Readystate Asset Management LP bought a new position in 2seventy bio during the 3rd quarter worth about $53,000. BNP Paribas Financial Markets bought a new position in 2seventy bio during the 4th quarter worth about $35,000. Finally, GSA Capital Partners LLP bought a new position in 2seventy bio during the 3rd quarter worth about $64,000. 93.90% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the stock. Weiss Ratings reissued a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. Morgan Stanley cut 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 report on Friday, March 14th. Finally, Leerink Partners restated a “market perform” rating and issued a $5.00 price target (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target 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.