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

2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) CEO William D. Baird III sold 5,092 shares of the 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 of the company's stock, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

2seventy bio Stock Performance

NASDAQ TSVT remained flat at $4.95 on Friday. 665,244 shares of the company's stock were exchanged, compared to its average volume of 605,066. The firm has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio, Inc. has a twelve month low of $2.29 and a twelve month high of $5.99. The stock has a 50 day moving average price of $2.99 and a 200-day moving average price of $3.70.

Hedge Funds Weigh In On 2seventy bio

Large investors have recently added to or reduced their stakes in the business. GSA Capital Partners LLP bought a new position in shares of 2seventy bio during the third quarter valued at about $64,000. Intech Investment Management LLC bought a new position in 2seventy bio during the 3rd quarter worth approximately $69,000. FMR LLC increased its stake in 2seventy bio by 22.0% in the 3rd quarter. FMR LLC now owns 148,545 shares of the company's stock worth $701,000 after purchasing an additional 26,738 shares during the period. BBR Partners LLC lifted its position in 2seventy bio by 620.0% in the third quarter. BBR Partners LLC now owns 180,000 shares of the company's stock valued at $850,000 after purchasing an additional 155,000 shares during the last quarter. Finally, PDT Partners LLC purchased a new stake in shares of 2seventy bio during the third quarter valued at approximately $244,000. Hedge funds and other institutional investors own 93.90% of the company's stock.

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Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Morgan Stanley dropped their price objective on 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. Leerink Partnrs lowered shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a report on Tuesday, March 11th. Leerink Partners reiterated a "market perform" rating and set a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Finally, Weiss Ratings restated a "sell (d-)" rating on shares of 2seventy bio in a research report on Friday, March 7th. One equities research analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Hold" and an average target price 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.