William D. Baird III Sells 3,222 Shares of 2seventy bio, Inc. (NASDAQ:TSVT) Stock

2seventy bio, Inc. (NASDAQ:TSVTGet Rating) CFO William D. Baird III sold 3,222 shares of the business’s stock in a transaction on Monday, January 9th. The stock was sold at an average price of $10.33, for a total value of $33,283.26. Following the transaction, the chief financial officer now owns 79,874 shares of the company’s stock, valued at approximately $825,098.42. The sale was disclosed in a legal filing with the SEC, which is accessible through the SEC website.

2seventy bio Trading Up 1.5 %

NASDAQ:TSVT opened at $10.53 on Friday. The firm has a market capitalization of $399.27 million, a price-to-earnings ratio of -1.10 and a beta of 1.31. 2seventy bio, Inc. has a 1-year low of $8.44 and a 1-year high of $22.88. The business’s fifty day moving average price is $12.91 and its 200 day moving average price is $14.13.

2seventy bio (NASDAQ:TSVTGet Rating) last posted its quarterly earnings results on Monday, November 7th. The company reported ($1.76) earnings per share for the quarter, missing the consensus estimate of ($1.74) by ($0.02). The business had revenue of $13.41 million for the quarter, compared to analyst estimates of $10.67 million. 2seventy bio had a negative net margin of 568.59% and a negative return on equity of 77.38%. Equities analysts forecast that 2seventy bio, Inc. will post -8.76 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research firms have recently commented on TSVT. SVB Leerink dropped their price objective on 2seventy bio from $41.00 to $34.00 and set an “outperform” rating on the stock in a research note on Tuesday. Guggenheim initiated coverage on 2seventy bio in a research note on Monday, October 31st. They issued a “buy” rating and a $30.00 price objective on the stock. Finally, Morgan Stanley boosted their target price on 2seventy bio from $27.00 to $29.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 8th.

Institutional Inflows and Outflows

A number of institutional investors and hedge funds have recently bought and sold shares of the company. State Street Corp purchased a new position in 2seventy bio in the first quarter valued at about $53,909,000. BlackRock Inc. grew its stake in 2seventy bio by 2.1% in the third quarter. BlackRock Inc. now owns 2,582,136 shares of the company’s stock valued at $37,570,000 after purchasing an additional 53,200 shares in the last quarter. Wellington Management Group LLP purchased a new position in 2seventy bio in the first quarter valued at about $42,854,000. Vanguard Group Inc. boosted its stake in shares of 2seventy bio by 1.1% during the 3rd quarter. Vanguard Group Inc. now owns 2,355,933 shares of the company’s stock worth $34,279,000 after acquiring an additional 25,850 shares in the last quarter. Finally, RTW Investments LP bought a new stake in shares of 2seventy bio during the 1st quarter worth about $20,975,000. Hedge funds and other institutional investors own 89.47% of the company’s stock.

About 2seventy bio

(Get Rating)

2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development, and commercialization of treatments for cancer in the United States. Its products pipeline includes idecabtagene vicleucel; ide-cel or Abecma and bb21217; and CAR-T cell product candidates for the treatment of multiple myeloma.

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