2seventy bio, Inc. (NASDAQ:TSVT) Sees Large Drop in Short Interest

2seventy bio, Inc. (NASDAQ:TSVT) was the target of a large decline in short interest in 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. Currently, 10.6% of the company’s stock are sold short. Based on an average daily volume of 402,300 shares, the short-interest ratio is currently 12.8 days.

2seventy bio Price Performance

Shares of NASDAQ TSVT opened at $4.93 on Monday. The stock’s fifty day moving average price is $4.58 and its two-hundred day moving average price is $4.52. 2seventy bio has a one year low of $1.53 and a one year high of $6.40. The firm has a market cap of $253.43 million, a price-to-earnings ratio of -1.13 and a beta of 1.77.

2seventy bio (NASDAQ:TSVT) last issued its quarterly earnings data 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 firm had revenue of $8.97 million for the quarter, compared to analyst estimates of $11.43 million. On average, equities analysts anticipate that 2seventy bio will post -1.33 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

TSVT has been the topic of several recent analyst reports. Morgan Stanley lowered their price target on 2seventy bio from $7.00 to $6.00 and set an “equal weight” rating on the stock in a research report on Monday, July 29th. The Goldman Sachs Group lowered 2seventy bio from a “neutral” rating to a “sell” rating and decreased their target price for the stock from $5.00 to $2.00 in a report on Thursday, June 6th. Finally, Wedbush reissued a “neutral” rating and set a $5.00 target price on shares of 2seventy bio in a report on Thursday, June 27th. One investment analyst has rated the stock with a sell rating, three have given a hold rating, four have issued a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, 2seventy bio currently has an average rating of “Moderate Buy” and a consensus price target of $9.00.

Insider Activity

In other 2seventy bio news, insider Jessica Snow sold 7,816 shares of the business’s stock in a transaction that occurred on Wednesday, August 14th. The stock was sold at an average price of $4.32, for a total value of $33,765.12. Following the sale, the insider now owns 156,330 shares in the company, valued at approximately $675,345.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 7.20% of the stock is currently owned by company insiders.

Institutional Trading of 2seventy bio

Institutional investors have recently modified their holdings of the stock. Madison Avenue Partners LP lifted its position in shares of 2seventy bio by 17.4% during the 4th quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company’s stock valued at $7,493,000 after acquiring an additional 260,663 shares during the period. Jacobs Levy Equity Management Inc. bought a new stake in shares of 2seventy bio during the 1st quarter worth $2,031,000. Venator Management LLC lifted its position in shares of 2seventy bio by 49.2% during the 2nd quarter. Venator Management LLC now owns 485,000 shares of the company’s stock worth $1,867,000 after buying an additional 160,000 shares during the last quarter. Goldman Sachs Group Inc. lifted its position in shares of 2seventy bio by 512.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company’s stock worth $19,253,000 after buying an additional 3,772,556 shares during the last quarter. Finally, Susquehanna Fundamental Investments LLC bought a new stake in shares of 2seventy bio during the 1st quarter worth $740,000. 93.90% of the stock is currently owned by institutional investors.

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.