The buying and selling of stock by a company’s insider give investors a sense that the stock will rise or fall in the future. 2seventy bio Inc. shares valued at $51,090 were sold by Leschly Nick on Aug 22. At $5.49 per share, Leschly Nick sold 9,312 shares. The insider’s holdings dropped to 1,159,342 shares worth approximately $6.34 million following the completion of this transaction.
Also, Baird William D III sold 7,031 shares, netting a total of over 38,576 in proceeds. Following the sale of shares at $5.49 each, the insider now holds 196,366 shares.
Before that, Gregory Philip D had sold 6,159 shares from its account. In a trade valued at $33,791, the Chief Scientific Officer traded 2seventy bio Inc. shares for $5.49 each. Upon closing the transaction, the insider’s holdings decreased to 6,159 shares, worth approximately $1.41 million.
As published in a research note from Morgan Stanley on July 28, 2023, 2seventy bio Inc. [TSVT] has been rated down from an Overweight to an Equal-weight and the price target has been revised to $13 from $25. This represents a 57.92% premium over Thursday’s closing price.
Analyzing TSVT Stock Performance
On Thursday, 2seventy bio Inc. [NASDAQ: TSVT] rose 1.11% to $5.47. The stock’s lowest price that day was $5.35, but it reached a high of $5.58 in the same session. During the last five days, there has been a drop of approximately -2.67%. Over the course of the year, 2seventy bio Inc. shares have dropped approximately -41.62%. Shares of the company reached a 52-week high of $15.25 on 02/06/23 and a 52-week low of $5.35 on 08/24/23. A 50-day SMA is recorded $8.58, while a 200-day SMA reached $10.94. Nevertheless, trading volume fell to 0.81 million shares from 1.17 million shares the previous day.
Support And Resistance Levels for 2seventy bio Inc. (TSVT)
According to the 24-hour chart, there is a support level at 5.35, which, if violated, would cause prices to drop to 5.24. In the upper region, resistance lies at 5.58. The next price resistance is at 5.70. RSI (Relative Strength Index) is 25.54 on the 14-day chart, showing oversold technical sentiment. Moving Average Convergence Divergence (MACD) is at -0.33, which suggests the price will decrease in the coming days. Percent R is at 91.67%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Is 2seventy bio Inc. subject to short interest?
Stocks of 2seventy bio Inc. saw a sharp steep in short interest on Jul 30, 2023 dropping by 100000.0 shares to 8.25 million. Data from Yahoo Finance shows that the short interest on Jun 29, 2023 was 8.35 million shares. A decline of -1.21% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 11.82 of the overall float, the days-to-cover ratio (short ratio) decline to 11.82.
Which companies own the most shares of 2seventy bio Inc. (TSVT)?
According to Kynam Capital Management LP filings, the company currently owns 15,636,219 shares, which is about 31.15% of the total TSVT shares outstanding. The investor’s shares have appreciated by 10,745,513 from its previous 13-F filing of 4890706.0 shares. With the completion of the buy transaction, BlackRock Fund Advisors’s stake is now worth $27,527,905. The Vanguard Group, Inc. acquire a 19.84% interest valued at $25.8 million while SSgA Funds Management, Inc. sold a -87,183 stake. A total of 952,858 shares of 2seventy bio Inc. were sold by Millennium Management LLC during the quarter, and 110,480 were bought by Wellington Management Co. LLP. In its current portfolio, Baker Bros. Advisors LP holds 2,497,526 shares valued at $18.96 million.
In terms of 2seventy bio Inc. share price expectations, FactSet research, analysts set an average price target of $24.33 in the next 12 months, up nearly 362.11% from the previous closing price of $5.41. Analysts anticipate 2seventy bio Inc. stock to reach $33.00 by 2023, with the lowest price target being $13.00. In spite of this, 7 analysts ranked 2seventy bio Inc. stock as a Buy at the end of 2023.