Insider Selling: 2seventy bio, Inc. (NASDAQ:TSVT) COO Sells $11,375.10 in Stock

2seventy bio, Inc. (NASDAQ:TSVT) COO Jessica Snow sold 2,298 shares of the company’s stock in a transaction on 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 owns 254,193 shares of the company’s stock, valued at approximately $1,258,255.35. The trade was a 0.90 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link.

2seventy bio Stock Performance

NASDAQ TSVT opened at $4.95 on Friday. The stock has a fifty day simple moving average of $2.99 and a 200-day simple moving average of $3.71. 2seventy bio, Inc. has a twelve month low of $2.29 and a twelve 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

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

Analyst Upgrades and Downgrades

Several analysts have issued reports on the company. Weiss Ratings restated a “sell (d-)” rating on shares of 2seventy bio in a report on Friday, March 7th. Leerink Partners restated a “market perform” rating and issued a $5.00 target price (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Leerink Partnrs cut 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. Finally, Morgan Stanley lowered their price target on 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a report on Friday, March 14th. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus 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.