2seventy bio, Inc. (NASDAQ:TSVT) Director Purchases $1,470,000.00 in Stock

2seventy bio, Inc. (NASDAQ:TSVT) Director Casdin Capital, Llc acquired 300,000 shares of the stock in a transaction that occurred on Thursday, March 21st. The shares were bought at an average cost of $4.90 per share, for a total transaction of $1,470,000.00. Following the completion of the transaction, the director now directly owns 1,482,623 shares of the company’s stock, valued at approximately $7,264,852.70. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website.

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

• On Monday, March 25th, Casdin Capital, Llc acquired 330,000 shares of 2seventy bio stock. The shares were bought at an average cost of $5.07 per share, for a total transaction of $1,673,100.00.

2seventy bio Trading Up 8.5 %

Shares of 2seventy bio stock opened at $5.38 on Thursday. The firm has a fifty day simple moving average of $4.91 and a 200-day simple moving average of $3.84. 2seventy bio, Inc. has a 1-year low of $1.53 and a 1-year high of $12.69. The stock has a market capitalization of $276.05 million, a price-to-earnings ratio of -1.22 and a beta of 1.84.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data on Tuesday, March 5th. The company reported ($1.11) earnings per share for the quarter, topping analysts’ consensus estimates of ($1.22) by $0.11. 2seventy bio had a negative net margin of 216.73% and a negative return on equity of 59.19%. The business had revenue of $10.68 million during the quarter, compared to analysts’ expectations of $13.91 million. During the same period in the previous year, the company earned ($0.60) earnings per share. As a group, research analysts predict that 2seventy bio, Inc. will post -1.36 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of analysts have issued reports on TSVT shares. Leerink Partnrs upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating in a research note on Wednesday, January 31st. TD Cowen reiterated a “market perform” rating on shares of 2seventy bio in a research note on Wednesday, January 31st. Wedbush reiterated a “neutral” rating and issued a $5.00 target price on shares of 2seventy bio in a research note on Monday, March 18th. Finally, SVB Leerink upgraded shares of 2seventy bio from a “market perform” rating to an “outperform” rating and lifted their target price for the company from $5.00 to $18.00 in a research note on Wednesday, January 31st. Five investment analysts have rated the stock with a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, 2seventy bio has a consensus rating of “Hold” and a consensus price target of $13.33.

Institutional Trading of 2seventy bio

A number of institutional investors and hedge funds have recently modified their holdings of the company. Vanguard Group Inc. raised its stake in 2seventy bio by 6.7% during the 4th quarter. Vanguard Group Inc. now owns 3,985,770 shares of the company’s stock valued at $17,019,000 after purchasing an additional 251,893 shares during the last quarter. Goldman Sachs Group Inc. raised its stake in 2seventy bio by 512.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock valued at $19,253,000 after purchasing an additional 3,772,556 shares during the last quarter. Madison Avenue Partners LP raised its stake in 2seventy bio by 17.4% during the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock valued at $7,493,000 after purchasing an additional 260,663 shares during the last quarter. Barclays PLC raised its stake in 2seventy bio by 93.8% during the 4th quarter. Barclays PLC now owns 83,552 shares of the company’s stock valued at $356,000 after purchasing an additional 40,434 shares during the last quarter. Finally, Voya Investment Management LLC raised its stake in 2seventy bio by 22.9% during the 4th quarter. Voya Investment Management LLC now owns 61,413 shares of the company’s stock valued at $262,000 after purchasing an additional 11,439 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.