2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm's stock in a transaction dated Tuesday, March 11th. The stock was sold at an average price of $4.93, for a total transaction of $25,350,607.23. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Major shareholders that own at least 10% of a company's stock are required to disclose their transactions with the SEC.
2seventy bio Price Performance
TSVT stock opened at $4.95 on Friday. The company has a 50-day simple moving average of $2.68 and a 200 day simple moving average of $3.69. The company has a market capitalization of $255.36 million, a P/E ratio of -2.66 and a beta of 1.73. 2seventy bio, Inc. has a fifty-two week low of $2.29 and a fifty-two week high of $5.99.
Institutional Trading of 2seventy bio
A number of institutional investors have recently made changes to their positions in the stock. BBR Partners LLC raised its holdings 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 purchasing an additional 155,000 shares in the last quarter. Rhumbline Advisers raised its stake in shares of 2seventy bio by 9.5% in the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock worth $249,000 after buying an additional 7,379 shares in the last quarter. Geode Capital Management LLC lifted its holdings in shares of 2seventy bio by 1.1% in the third quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company's stock valued at $5,553,000 after buying an additional 13,144 shares during the period. GSA Capital Partners LLP acquired a new stake in shares of 2seventy bio in the third quarter valued at $64,000. Finally, FMR LLC lifted its holdings in shares of 2seventy bio by 22.0% in the third quarter. FMR LLC now owns 148,545 shares of the company's stock valued at $701,000 after buying an additional 26,738 shares during the period. 93.90% of the stock is owned by institutional investors and hedge funds.
Analyst Upgrades and Downgrades
Several analysts recently issued reports on the company. Leerink Partners reissued a "market perform" rating and issued a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a report on Tuesday. Weiss Ratings reiterated a "sell (d-)" rating on shares of 2seventy bio in a research report on Friday, March 7th. Finally, Leerink Partnrs cut shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and an average price target of $6.83.
View Our Latest Stock Report on 2seventy bio
About 2seventy bio
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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.
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