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

2seventy bio, Inc. (NASDAQ:TSVT – Get Free Report ) was the beneficiary of a significant decline in short interest during the month of September. As of September 15th, there was short interest totaling 5,130,000 shares, a decrease of 13.8% from the August 31st total of 5,950,000 shares. About 10.6% of the stock’s shares are short sold. Based on an average daily volume of 402,300 shares, the days-to-cover ratio is currently 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 cap of $253.90 million, a PE ratio of -1.13 and a beta of 1.77.

2seventy bio (NASDAQ:TSVT – Get Your Free Report ) 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 via this link. Corporate insiders own 7.20% of the company’s shares.

Institutional investors are weighing in on 2seventy bio

Hedge funds have recently bought and sold shares of the company. SkyView Investment Advisors LLC lifted its stake in shares of 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 boosted its holdings in shares of 2seventy bio by 11.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock valued at $155,000 after buying an additional 2,893 shares during the period. BBR Partners LLC raised 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 in the last quarter. Bank of New York Mellon Corp raised 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. raised 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 purchasing an additional 11,363 shares in the last quarter. 93.90% of shares are currently owned by institutional investors and hedge funds.

Analysts on Wall Street are forecasting an increase

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 cut 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, Goldman Sachs Group cut 2seventy bio from a “neutral” rating to a “sell” rating and decreased their price objective for the stock from $5.00 to $2.00 in a report from Thursday, June 6. 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. The stock has a consensus rating of “Moderate Buy” and a consensus price target of $9.00, according to MarketBeat.

Check out our latest report on 2seventy biography

2seventy bio Company profile

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2seventy bio, Inc, a cell and gene therapy company, focuses on the research, development and commercialization of cancer treatments in the United States. The company’s product line includes Abecma, a chimeric T-cell antigen receptor candidate for the treatment of multiple myeloma.

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