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 2seventy bio stock in a transaction on Monday, March 17th. The shares were 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 of the company’s stock, valued at $5,549,118.30. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website.

2seventy bio Price Performance

TSVT stock remained flat at $4.96 during midday trading on Wednesday. The company’s stock had a trading volume of 468,446 shares, compared to its average volume of 620,134. The firm’s fifty day simple moving average is $2.85 and its 200 day simple moving average is $3.69. 2seventy bio, Inc. has a one year low of $2.29 and a one year high of $5.99. The company has a market cap of $255.88 million, a PE ratio of -2.67 and a beta of 1.73.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Leerink Partners reissued a “market perform” rating and set a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. Weiss Ratings reiterated a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. Finally, Morgan Stanley cut their price target 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 research analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $6.67.

Institutional Inflows and Outflows

A number of hedge funds and other institutional investors have recently bought and sold shares of the company. Toronto Dominion Bank acquired a new position in 2seventy bio during the 4th quarter worth $2,352,000. Western Standard LLC increased its stake in shares of 2seventy bio by 175.7% in the fourth quarter. Western Standard LLC now owns 788,350 shares of the company’s stock worth $2,318,000 after purchasing an additional 502,419 shares during the period. Stonepine Capital Management LLC lifted its position in shares of 2seventy bio by 200.0% during the 4th quarter. Stonepine Capital Management LLC now owns 300,000 shares of the company’s stock worth $882,000 after purchasing an additional 200,000 shares during the last quarter. Point72 Asset Management L.P. bought a new stake in 2seventy bio during the 4th quarter valued at approximately $913,000. Finally, ProShare Advisors LLC bought a new stake in 2seventy bio during the 4th quarter valued at approximately $48,000. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.