Index falls as earnings results weigh; pound above $1.33, Bodycote soars
CAMBRIDGE, Mass.—William D. Baird III, the President and CEO of 2seventy bio, Inc. (NASDAQ:TSVT), a clinical-stage cell and gene therapy company with a market capitalization of $256 million, recently sold shares of the company’s common stock. The transaction comes as the stock has shown strong momentum, gaining nearly 69% year-to-date, though InvestingPro analysis indicates the shares are trading above their Fair Value. According to a filing submitted to the Securities and Exchange Commission (SEC), Baird sold a total of 5,092 shares on March 17, 2025, at a price of $4.945 per share, amounting to a total transaction value of $25,179.
Following this transaction, Baird retains direct ownership of 1,121,034 shares in the company. The sale was made to cover tax withholding obligations related to the vesting of restricted stock units.
In other recent news, 2Seventy Bio , Inc. reported full-year 2024 sales results for Abecma, a drug developed in partnership with Bristol Myers (NYSE:BMY) Squibb, confirming U.S. revenue of $242 million. This figure aligns with previous guidance of $240 to $250 million. Despite a 23% decline in fourth-quarter sales to $59 million, the company remains optimistic about reaching a quarterly breakeven point for Abecma by the end of 2025. Citi analyst Samantha Semenkow adjusted the price target for 2Seventy Bio shares to $9.00 from $10.00, maintaining a Buy rating but noting the stock’s High Risk status. The revision follows revised estimates for Abecma’s revenue and operational expenses. Additionally, 2Seventy Bio announced the appointment of Jessica Snow as Chief Operating Officer, effective January 6, 2025, as part of its leadership optimization. Ms. Snow has been with the company since 2021, most recently serving as Senior Vice President of Quality & Head of Operations. The company plans to detail its complete financial results for the fourth quarter and full year of 2024 in an upcoming earnings call and Form 10-K filing.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.