Insider Selling: 2seventy bio, Inc. (NASDAQ:TSVT) CFO Sells 2,592 Shares of Stock

2seventy bio, Inc. (NASDAQ:TSVT) CFO Victoria Eatwell sold 2,592 shares of the stock in a transaction on Monday, March 17th. The stock was sold at an average price of $4.95, for a total value of $12,830.40. Following the sale, the chief financial officer now directly owns 444,387 shares in the company, valued at approximately $2,199,715.65. This trade represents a 0.58 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link.

2seventy bio Stock Performance

2seventy bio stock remained flat at $4.96 during trading hours on Wednesday. The company’s stock had a trading volume of 468,446 shares, compared to its average volume of 620,134. The business has a 50 day moving average of $2.85 and a 200 day moving average of $3.69. 2seventy bio, Inc. has a 1 year low of $2.29 and a 1 year high of $5.99. The company has a market capitalization of $255.88 million, a PE ratio of -2.67 and a beta of 1.73.

Analyst Ratings Changes

A number of equities research analysts have issued reports on the stock. Morgan Stanley reduced their price objective 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 restated a “sell (d-)” rating on shares of 2seventy bio in a research report on Friday, March 7th. Leerink Partners restated a “market perform” rating and set a $5.00 target price (down from $9.00) on shares of 2seventy bio in a research note on Tuesday, March 11th. Finally, Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, March 11th. One 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. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $6.67.

Institutional Inflows and Outflows

Large investors have recently added to or reduced their stakes in the business. Erste Asset Management GmbH acquired a new position in 2seventy bio in the 3rd quarter valued at approximately $25,000. China Universal Asset Management Co. Ltd. acquired a new position in shares of 2seventy bio during the fourth quarter worth $32,000. Readystate Asset Management LP bought a new stake in shares of 2seventy bio in the third quarter worth $53,000. BNP Paribas Financial Markets acquired a new stake in 2seventy bio in the fourth quarter valued at $35,000. Finally, GSA Capital Partners LLP bought a new position in 2seventy bio during the 3rd quarter worth $64,000. Institutional investors 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.