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

2seventy bio, Inc. (NASDAQ:TSVT) was the target of a large decrease in short interest in March. As of March 15th, there was short interest totalling 3,310,000 shares, a decrease of 31.0% from the February 28th total of 4,800,000 shares. Currently, 7.0% of the shares of the stock are short sold. Based on an average trading volume of 1,000,000 shares, the short-interest ratio is currently 3.3 days.

2seventy bio Price Performance

Shares of TSVT stock opened at $4.95 on Friday. The company’s 50-day simple moving average is $3.24 and its two-hundred day simple moving average is $3.72. 2seventy bio has a one year low of $2.29 and a one year high of $5.99. The company has a market capitalization of $255.36 million, a P/E ratio of -2.66 and a beta of 1.73.

2seventy bio (NASDAQ:TSVT) last released its quarterly earnings data on Tuesday, March 25th. The company reported ($0.31) EPS for the quarter, missing the consensus estimate of ($0.23) by ($0.08). The firm had revenue of $2.93 million for the quarter, compared to analysts’ expectations of $12.84 million. 2seventy bio had a negative return on equity of 53.65% and a negative net margin of 207.25%. On average, research analysts expect that 2seventy bio will post -1.46 EPS for the current fiscal year.

Insider Transactions at 2seventy bio

In other news, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction dated Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the sale, the chief executive officer now directly owns 1,121,034 shares in the company, valued at approximately $5,549,118.30. This represents a 0.45 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the stock in a transaction dated Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total transaction of $25,350,607.23. The disclosure for this sale can be found here. Insiders have sold 5,152,093 shares of company stock valued at $25,400,018 in the last ninety days. Corporate insiders own 7.20% of the company’s stock.

Institutional Trading of 2seventy bio

Several institutional investors and hedge funds have recently made changes to their positions in TSVT. Erste Asset Management GmbH bought a new position in 2seventy bio during the 3rd quarter worth about $25,000. Northern Trust Corp boosted its stake in shares of 2seventy bio by 1.4% during the fourth quarter. Northern Trust Corp now owns 408,083 shares of the company’s stock valued at $1,200,000 after purchasing an additional 5,470 shares in the last quarter. Eversept Partners LP raised its stake in 2seventy bio by 0.6% in the fourth quarter. Eversept Partners LP now owns 1,003,678 shares of the company’s stock worth $2,951,000 after buying an additional 5,599 shares in the last quarter. American Century Companies Inc. raised its stake in 2seventy bio by 6.6% in the fourth quarter. American Century Companies Inc. now owns 93,552 shares of the company’s stock worth $275,000 after buying an additional 5,785 shares in the last quarter. Finally, Intech Investment Management LLC lifted its holdings in 2seventy bio by 41.1% during the fourth quarter. Intech Investment Management LLC now owns 20,688 shares of the company’s stock worth $61,000 after buying an additional 6,030 shares during the period. 93.90% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the company. Weiss Ratings restated a “sell (e+)” rating on shares of 2seventy bio in a research report on Saturday, March 22nd. Leerink Partnrs lowered shares of 2seventy bio from a “strong-buy” rating to a “hold” rating in a report on Tuesday, March 11th. Leerink Partners reiterated a “market perform” rating and set a $5.00 price target (down from $9.00) on shares of 2seventy bio in a report on Tuesday, March 11th. Finally, Morgan Stanley decreased their price objective on shares of 2seventy bio from $6.00 to $5.00 and set an “equal weight” rating for the company in a research note on Friday, March 14th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, two have given a buy rating and one has issued a strong buy rating to the company. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $6.67.

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.