2seventy bio, Inc. (NASDAQ:TSVT) Major Shareholder Global Healthcare Master Kynam Sells 5,142,111 Shares

2seventy bio, Inc. (NASDAQ:TSVT) major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the 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 sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Large shareholders that own more than 10% of a company’s stock are required to disclose their transactions with the SEC.

2seventy bio Price Performance

Shares of TSVT opened at $4.95 on Friday. The company has a 50 day moving average of $2.76 and a two-hundred day moving average of $3.69. 2seventy bio, Inc. has a twelve month low of $2.29 and a twelve month high of $5.99. The company has a market cap of $255.36 million, a price-to-earnings ratio of -2.66 and a beta of 1.73.

Institutional Trading of 2seventy bio

Several large investors have recently made changes to their positions in the business. Erste Asset Management GmbH acquired a new position in shares of 2seventy bio in the 3rd quarter valued at about $25,000. China Universal Asset Management Co. Ltd. acquired a new position in 2seventy bio in the fourth quarter valued at approximately $32,000. BNP Paribas Financial Markets purchased a new stake in 2seventy bio in the 4th quarter worth approximately $35,000. ProShare Advisors LLC acquired a new stake in shares of 2seventy bio during the 4th quarter worth approximately $48,000. Finally, Raymond James Financial Inc. purchased a new position in shares of 2seventy bio during the 4th quarter valued at approximately $52,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have issued reports on the company. Weiss Ratings reaffirmed a “sell (d-)” rating on shares of 2seventy bio in a research note on Friday, March 7th. Leerink Partners reiterated a “market perform” rating and set a $5.00 target price (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Morgan Stanley cut their price target on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating on the stock in a report on Friday. Finally, Leerink Partnrs lowered 2seventy bio from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, March 11th. One analyst has rated the stock with a sell rating, four have given a hold rating, two have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, 2seventy bio presently has an average rating of “Hold” and a consensus price target of $6.67.

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 Abecma, a chimeric antigen receptor T-cell product candidates for the treatment of multiple myeloma.