Jessica Snow Sells 2,298 Shares of 2seventy bio, Inc. (NASDAQ:TSVT) Stock

2seventy bio, Inc. (NASDAQ:TSVT) COO Jessica Snow sold 2,298 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 value of $11,375.10. Following the completion of the sale, the chief operating officer now directly owns 254,193 shares in the company, valued at $1,258,255.35. This represents a 0.90 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website.

2seventy bio Stock Performance

Shares of NASDAQ TSVT opened at $4.95 on Friday. 2seventy bio, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.99. The firm has a market capitalization of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. The stock’s 50-day simple moving average is $2.99 and its 200-day simple moving average is $3.71.

Wall Street Analyst Weigh In

TSVT has been the topic of a number of analyst reports. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research report on Friday, March 7th. Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. Morgan Stanley cut 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, March 14th. Finally, Leerink Partners reissued a “market perform” rating and set a $5.00 target price (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, two have issued a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $6.67.

Institutional Inflows and Outflows

Institutional investors have recently added to or reduced their stakes in the company. BBR Partners LLC increased its position in 2seventy bio by 620.0% during the third quarter. BBR Partners LLC now owns 180,000 shares of the company’s stock worth $850,000 after buying an additional 155,000 shares during the period. Rhumbline Advisers increased its position in 2seventy bio by 9.5% during the fourth quarter. Rhumbline Advisers now owns 84,670 shares of the company’s stock worth $249,000 after buying an additional 7,379 shares during the period. Geode Capital Management LLC increased its position in 2seventy bio by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company’s stock worth $5,553,000 after buying an additional 13,144 shares during the period. GSA Capital Partners LLP acquired a new position in 2seventy bio during the third quarter worth approximately $64,000. Finally, FMR LLC increased its position in 2seventy bio by 22.0% during the third quarter. FMR LLC now owns 148,545 shares of the company’s stock worth $701,000 after buying an additional 26,738 shares during the period. Institutional investors and hedge funds 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.