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

2seventy bio, Inc. (NASDAQ:TSVT) CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction that occurred 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 transaction, the chief executive officer now owns 1,121,034 shares of the company’s stock, valued at approximately $5,549,118.30. The trade was a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink.

2seventy bio Stock Down 0.2 %

2seventy bio stock opened at $4.95 on Friday. The company has a market cap of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73. The firm’s fifty day moving average is $2.94 and its 200 day moving average is $3.71. 2seventy bio, Inc. has a 52-week low of $2.29 and a 52-week high of $5.99.

Institutional Investors Weigh In On 2seventy bio

Hedge funds have recently bought and sold shares of the business. Erste Asset Management GmbH purchased a new stake in 2seventy bio during the third quarter valued at $25,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of 2seventy bio in the fourth quarter valued at $32,000. BNP Paribas Financial Markets purchased a new stake in shares of 2seventy bio in the fourth quarter valued at $35,000. ProShare Advisors LLC purchased a new stake in shares of 2seventy bio in the fourth quarter valued at $48,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of 2seventy bio in the fourth quarter valued at $52,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on TSVT. Leerink Partners reissued a “market perform” rating and issued a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Weiss Ratings reissued a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. Leerink Partnrs downgraded shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Morgan Stanley lowered their target price 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. One analyst has rated the stock with a sell rating, four have given a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company’s stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $6.67.

2seventy bio Company 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.