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 firm’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 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 filing with the SEC, which is available at this hyperlink.

2seventy bio Stock Performance

Shares of NASDAQ TSVT opened at $4.96 on Thursday. The firm has a market cap of $255.88 million, a PE ratio of -2.67 and a beta of 1.73. The firm has a fifty day moving average of $2.85 and a 200 day moving average of $3.69. 2seventy bio, Inc. has a one year low of $2.29 and a one year high of $5.99.

Analyst Ratings Changes

TSVT has been the topic of a number of recent analyst reports. 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. Leerink Partnrs cut shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Morgan Stanley lowered their target price on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. Finally, Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. 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 issued a strong buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $6.67.

Institutional Investors Weigh In On 2seventy bio

Several institutional investors and hedge funds have recently added to or reduced their stakes in TSVT. Erste Asset Management GmbH purchased a new stake in shares of 2seventy bio during the third quarter worth $25,000. China Universal Asset Management Co. Ltd. purchased a new stake in shares of 2seventy bio during the fourth quarter worth $32,000. BNP Paribas Financial Markets purchased a new stake in shares of 2seventy bio during the fourth quarter worth $35,000. ProShare Advisors LLC purchased a new stake in shares of 2seventy bio during the fourth quarter worth $48,000. Finally, Raymond James Financial Inc. purchased a new stake in shares of 2seventy bio during the fourth quarter worth $52,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

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.