2seventy bio, Inc. (NASDAQ:TSVT) Major Shareholder Sells $25,350,607.23 in Stock

2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm's stock in a transaction on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Large shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.

2seventy bio Price Performance

TSVT stock remained flat at $4.95 during trading on Monday. The company had a trading volume of 1,706,539 shares, compared to its average volume of 645,454. The business's fifty day moving average price is $2.76 and its 200-day moving average price is $3.69. 2seventy bio, Inc. has a 12 month low of $2.29 and a 12 month high of $5.99. The stock has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73.

Hedge Funds Weigh In On 2seventy bio

Several hedge funds and other institutional investors have recently modified their holdings of the business. Bank of America Corp DE boosted its position in shares of 2seventy bio by 317.1% during the 4th quarter. Bank of America Corp DE now owns 2,515,897 shares of the company's stock valued at $7,397,000 after acquiring an additional 1,912,771 shares during the last quarter. Regeneron Pharmaceuticals Inc. acquired a new position in 2seventy bio in the 4th quarter valued at about $3,689,000. Geode Capital Management LLC grew its stake in shares of 2seventy bio by 1.1% in the 3rd quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company's stock valued at $5,553,000 after buying an additional 13,144 shares during the period. State Street Corp increased its holdings in shares of 2seventy bio by 1.5% during the 3rd quarter. State Street Corp now owns 1,058,773 shares of the company's stock worth $4,997,000 after buying an additional 15,638 shares during the last quarter. Finally, Eversept Partners LP raised its position in shares of 2seventy bio by 0.6% during the 4th quarter. Eversept Partners LP now owns 1,003,678 shares of the company's stock valued at $2,951,000 after buying an additional 5,599 shares during the period. 93.90% of the stock is owned by hedge funds and other institutional investors.

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Analyst Ratings Changes

Several research firms have issued reports on TSVT. Leerink Partners reaffirmed 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. Morgan Stanley reduced their target price on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research report on Friday. Leerink Partnrs downgraded 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of 2seventy bio in a research note on Friday, March 7th. One research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has given a strong buy rating to the company's stock. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus 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.