Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. 2seventy bio Inc shares valued at $203,992 were purchased by Casdin Capital, LLC on Mar 26 ’24. At $5.10 per share, Casdin Capital, LLC acquired 40,000 shares. The insider’s holdings grew to 2,000,000 shares worth approximately $10.46 million following the completion of this transaction.
Also, Casdin Capital, LLC purchased 330,000 shares, netting a total of over 1,673,991 in proceeds. Following the buying of shares at $5.07 each, the insider now holds 1,960,000 shares.
Before that, Casdin Capital, LLC had added 147,377 shares to its account. In a trade valued at $754,069, the Director bought 2seventy bio Inc shares for $5.12 each. Upon closing the transaction, the insider’s holdings increased to 147,377 shares, worth approximately $8.52 million.
As published in a research note from Leerink Partners on January 31, 2024, 2seventy bio Inc [TSVT] has been rated up from a Market perform to an Outperform and the price target has been revised to $18 from $5. Analysts at TD Cowen downgraded the stock from ‘”an Outperform”‘ to ‘”a Market perform”‘ outlook in a report released in late January. As of October 30, 2023, Leerink Partners has decreased its “an Outperform” rating to a “Market perform” for TSVT. Earlier on October 12, 2023, Citigroup initiated its rating. Their recommendation was “a Buy” for TSVT stock.
Analyzing TSVT Stock Performance
During the last five days, there has been a surge of approximately 5.02%. Over the course of the year, 2seventy bio Inc shares have jumped approximately 22.48%. Shares of the company reached a 52-week high of $6.40 on 02/20/24 and a 52-week low of $2.89 on 01/26/24. A 50-day SMA is recorded $5.22, while a 200-day SMA reached $4.93. Nevertheless, trading volume fell to 0.85 million shares from 1.72 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 5.11, which, if violated, would cause prices to drop to 4.99. In the upper region, resistance lies at 5.42. The next price resistance is at 5.62. RSI (Relative Strength Index) is 52.17 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 0.26, which suggests the price will decrease in the coming days. Percent R is at 51.35%, indicating low price movement. Stochastics %K at holding 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 Mar 15, 2024 dropping by -0.56 million shares to 5.25 million. Data from Yahoo Finance shows that the short interest on Feb 15, 2024 was 5.81 million shares. A decline of -10.67% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 5.49 of the overall float, the days-to-cover ratio (short ratio) decline to 5.49.
