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 2seventy bio stock in a transaction that occurred on Monday, March 25th. The stock was acquired at an average cost of $5.07 per share, with a total value of $1,673,100.00. Following the purchase, the director now owns 1,960,000 shares in the company, valued at approximately $9,937,200. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through 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 stock was acquired at an average cost of $4.90 per share, with a total value of $1,470,000.00.

2seventy bio Stock Performance

NASDAQ:TSVT opened at $5.38 on Thursday. The firm’s 50-day moving average is $4.91 and its 200-day moving average is $3.84. 2seventy bio, Inc. has a 52-week low of $1.53 and a 52-week high of $12.69. The company has a market cap of $276.05 million, a price-to-earnings ratio of -1.22 and a beta of 1.84.

2seventy bio (NASDAQ:TSVT) last posted its quarterly earnings data on Tuesday, March 5th. The company reported ($1.11) earnings per share (EPS) for the quarter, topping the consensus estimate 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 company had revenue of $10.68 million for the quarter, compared to the consensus estimate of $13.91 million. During the same quarter in the previous year, the firm posted ($0.60) EPS. Equities analysts predict that 2seventy bio, Inc. will post -1.36 EPS for the current year.

Analyst Ratings Changes

A number of research analysts have weighed in on the stock. SVB Leerink raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating and boosted their target price for the stock from $5.00 to $18.00 in a research report on Wednesday, January 31st. TD Cowen reissued a “market perform” rating on shares of 2seventy bio in a research report on Wednesday, January 31st. Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a research report on Monday, March 18th. Finally, Leerink Partnrs raised shares of 2seventy bio from a “market perform” rating to an “outperform” rating in a research report on Wednesday, January 31st. Five research analysts have rated the stock with a hold rating and three have issued a buy rating to the stock. Based on 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 added to or reduced their stakes in TSVT. JPMorgan Chase & Co. bought a new stake in 2seventy bio in the first quarter valued at about $8,237,000. Bank of New York Mellon Corp bought a new stake in 2seventy bio in the first quarter valued at about $1,493,000. Group One Trading L.P. bought a new stake in 2seventy bio in the first quarter valued at about $69,000. Citigroup Inc. bought a new stake in 2seventy bio in the first quarter valued at about $639,000. Finally, MetLife Investment Management LLC bought a new stake in 2seventy bio in the first quarter valued at about $221,000. 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 idecabtagene vicleucel; ide-cel or Abecma and bb21217; and chimeric antigen receptor-T cell product candidates for the treatment of multiple myeloma.