2seventy bio, Inc. (NASDAQ:TSVT) Short Interest Update

2seventy bio, Inc. (NASDAQ:TSVT) was the recipient of a large decline in short interest during the month of September. As of September 15th, there was short interest totalling 5,130,000 shares, a decline of 13.8% from the August 31st total of 5,950,000 shares. Approximately 10.6% of the shares of the stock are short sold. Based on an average daily volume of 402,300 shares, the days-to-cover ratio is presently 12.8 days.

2seventy bio Trading Up 3.6 %

NASDAQ TSVT opened at $4.93 on Friday. 2seventy bio has a 12 month low of $1.53 and a 12 month high of $6.40. The stock has a 50-day simple moving average of $4.58 and a 200 day simple moving average of $4.52. The company has a market capitalization of $253.90 million, a PE ratio of -1.13 and a beta of 1.77.

2seventy bio (NASDAQ:TSVT) last announced its quarterly earnings results on Wednesday, August 7th. The company reported ($0.29) EPS for the quarter, beating analysts’ consensus estimates of ($0.35) by $0.06. 2seventy bio had a negative return on equity of 66.01% and a negative net margin of 354.16%. The company had revenue of $8.97 million during the quarter, compared to analysts’ expectations of $11.43 million. As a group, sell-side analysts predict that 2seventy bio will post -1.33 earnings per share for the current fiscal year.

Insider Buying and Selling at 2seventy bio

In related news, insider Jessica Snow sold 7,816 shares of the company’s stock in a transaction dated Wednesday, August 14th. The shares were sold at an average price of $4.32, for a total transaction of $33,765.12. Following the transaction, the insider now owns 156,330 shares in the company, valued at approximately $675,345.60. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 7.20% of the company’s stock.

Institutional Investors Weigh In On 2seventy bio

Hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC lifted its stake in 2seventy bio by 25.0% in the second quarter. SkyView Investment Advisors LLC now owns 12,500 shares of the company’s stock valued at $48,000 after acquiring an additional 2,500 shares during the last quarter. Price T Rowe Associates Inc. MD raised its holdings in shares of 2seventy bio by 11.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock valued at $155,000 after purchasing an additional 2,893 shares during the period. BBR Partners LLC lifted its stake in 2seventy bio by 66.7% in the 2nd quarter. BBR Partners LLC now owns 25,000 shares of the company’s stock valued at $96,000 after purchasing an additional 10,000 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in 2seventy bio by 5.4% during the second quarter. Bank of New York Mellon Corp now owns 196,959 shares of the company’s stock worth $758,000 after purchasing an additional 10,077 shares during the period. Finally, American Century Companies Inc. increased its position in 2seventy bio by 16.6% during the second quarter. American Century Companies Inc. now owns 79,953 shares of the company’s stock worth $308,000 after buying an additional 11,363 shares during the last quarter. 93.90% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have commented on TSVT shares. Wedbush reiterated a “neutral” rating and issued a $5.00 price objective on shares of 2seventy bio in a research report on Thursday, June 27th. Morgan Stanley decreased their price target on 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a report on Monday, July 29th. Finally, The Goldman Sachs Group cut 2seventy bio from a “neutral” rating to a “sell” rating and dropped their price objective for the stock from $5.00 to $2.00 in a report on Thursday, June 6th. One investment analyst has rated the stock with a sell rating, three have assigned a hold rating, four have issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $9.00.

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.