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

2seventy bio, Inc. (NASDAQ:TSVT) saw a significant drop in short interest during the month of March. As of March 15th, there was short interest totalling 3,310,000 shares, a drop of 31.0% from the February 28th total of 4,800,000 shares. Based on an average daily trading volume, of 1,000,000 shares, the days-to-cover ratio is presently 3.3 days. Approximately 7.0% of the company’s stock are short sold.

Analyst Ratings Changes

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

2seventy bio Price Performance

NASDAQ TSVT opened at $4.95 on Monday. The stock’s 50 day simple moving average is $3.24 and its 200-day simple moving average is $3.72. The company has a market cap of $255.36 million, a PE ratio of -2.66 and a beta of 1.73. 2seventy bio has a 1-year low of $2.29 and a 1-year high of $5.99.

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

Insider Buying and Selling at 2seventy bio

In other 2seventy bio news, CEO William D. Baird III sold 5,092 shares of the company’s stock in a transaction that occurred on Monday, March 17th. The shares were sold at an average price of $4.95, for a total transaction of $25,205.40. Following the transaction, the chief executive officer now 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 document filed with the SEC, which can be accessed through the SEC website. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of 2seventy bio stock in a transaction on Tuesday, March 11th. The stock was 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. Over the last ninety days, insiders sold 5,152,093 shares of company stock worth $25,400,018. 7.20% of the stock is owned by insiders.

Hedge Funds Weigh In On 2seventy bio

Institutional investors and hedge funds have recently bought and sold shares of the business. Bank of America Corp DE raised its holdings in 2seventy bio by 317.1% in the 4th quarter. Bank of America Corp DE now owns 2,515,897 shares of the company’s stock valued at $7,397,000 after acquiring an additional 1,912,771 shares during the last quarter. Regeneron Pharmaceuticals Inc. purchased a new position in 2seventy bio during the fourth quarter worth approximately $3,689,000. Toronto Dominion Bank acquired a new position in 2seventy bio during the fourth quarter worth $2,352,000. Western Standard LLC grew its holdings in 2seventy bio by 175.7% in the 4th quarter. Western Standard LLC now owns 788,350 shares of the company’s stock valued at $2,318,000 after buying an additional 502,419 shares in the last quarter. Finally, Point72 Asset Management L.P. acquired a new stake in shares of 2seventy bio in the 4th quarter worth $913,000. 93.90% of the stock is currently owned by institutional investors and hedge funds.

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.