2seventy bio, Inc. (NASDAQ:TSVT) Director Buys $1,673,100.00 in Stock

2seventy bio, Inc. (NASDAQ:TSVT) Director Casdin Capital, Llc acquired 330,000 shares of the stock in a transaction dated Monday, March 25th. The shares were purchased at an average price of $5.07 per share, for a total transaction of $1,673,100.00. Following the completion of the purchase, the director now directly owns 1,960,000 shares in the company, valued at $9,937,200. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link.

Casdin Capital, Llc also recently made the following trade(s):

• On Thursday, March 21st, Casdin Capital, Llc acquired 300,000 shares of 2seventy bio stock. The shares were purchased at an average price of $4.90 per share, for a total transaction of $1,470,000.00.

2seventy bio Stock Performance

Shares of TSVT stock opened at $5.38 on Thursday. The company has a market capitalization of $276.05 million, a price-to-earnings ratio of -1.22 and a beta of 1.84. The company has a 50-day simple moving average of $4.91 and a 200 day simple moving average of $3.84. 2seventy bio, Inc. has a 52 week low of $1.53 and a 52 week high of $12.69.

2seventy bio (NASDAQ:TSVT) last announced its earnings results on Tuesday, March 5th. The company reported ($1.11) EPS for the quarter, topping the consensus estimate of ($1.22) by $0.11. The business had revenue of $10.68 million during the quarter, compared to the consensus estimate of $13.91 million. 2seventy bio had a negative net margin of 216.73% and a negative return on equity of 59.19%. During the same quarter in the previous year, the firm posted ($0.60) EPS. Sell-side analysts forecast that 2seventy bio, Inc. will post -1.36 EPS for the current year.

Wall Street Analyst Weigh In

Several research firms have recently weighed in on TSVT. Leerink Partnrs upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. Wedbush restated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a research note on Monday, March 18th. TD Cowen restated a “market perform” rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Finally, SVB Leerink raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating and lifted their target price for the stock from $5.00 to $18.00 in a report on Wednesday, January 31st. Five equities research analysts have rated the stock with a hold rating and three have given a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $13.33.

Institutional Trading of 2seventy bio

A number of institutional investors have recently bought and sold shares of TSVT. Metropolitan Life Insurance Co NY bought a new stake in 2seventy bio in the 1st quarter valued at about $25,000. US Bancorp DE boosted its holdings in 2seventy bio by 754.1% in the 2nd quarter. US Bancorp DE now owns 2,528 shares of the company’s stock valued at $26,000 after purchasing an additional 2,232 shares during the period. Ameritas Investment Partners Inc. bought a new stake in 2seventy bio in the 1st quarter valued at about $30,000. Zurcher Kantonalbank Zurich Cantonalbank bought a new stake in 2seventy bio in the 2nd quarter valued at about $33,000. Finally, Diversified Trust Co bought a new stake in 2seventy bio in the 3rd quarter valued at about $41,000. Institutional investors own 93.90% of the company’s stock.

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 idecabtagene vicleucel; ide-cel or Abecma and bb21217; and chimeric antigen receptor-T cell product candidates for the treatment of multiple myeloma.