Insider Selling: 2seventy bio, Inc. (NASDAQ:TSVT) CEO Sells $25,205.40 in 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 sale, the chief executive officer now directly owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. The trade was a 0.45 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

2seventy bio Price Performance

Shares of TSVT opened at $4.95 on Friday. The company has a 50-day simple moving average of $2.99 and a 200-day simple moving average of $3.71. The company has a market capitalization of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio, Inc. has a 52-week low of $2.29 and a 52-week high of $5.99.

Hedge Funds Weigh In On 2seventy bio

A number of large investors have recently made changes to their positions in TSVT. GSA Capital Partners LLP purchased a new position in shares of 2seventy bio in the 3rd quarter valued at about $64,000. Intech Investment Management LLC purchased a new position in 2seventy bio during the 3rd quarter valued at about $69,000. FMR LLC increased its holdings in 2seventy bio by 22.0% during the 3rd quarter. FMR LLC now owns 148,545 shares of the company’s stock valued at $701,000 after acquiring an additional 26,738 shares in the last quarter. BBR Partners LLC increased its holdings in 2seventy bio by 620.0% during the 3rd quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock valued at $850,000 after acquiring an additional 155,000 shares in the last quarter. Finally, PDT Partners LLC purchased a new position in 2seventy bio during the 3rd quarter valued at about $244,000. Hedge funds and other institutional investors own 93.90% of the company’s stock.

Analysts Set New Price Targets

Several equities research analysts recently weighed in on the stock. Leerink Partnrs downgraded shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. Morgan Stanley cut 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 research note on Friday, March 14th. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. Finally, Leerink Partners reissued a “market perform” rating and issued a $5.00 price objective (down from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. 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 company’s stock. According to MarketBeat.com, the stock 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.