2seventy bio, Inc. (NASDAQ:TSVT) Sees Significant Decline in Short Interest

2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) was the target of a significant drop in short interest during the month of March. As of March 31st, there was short interest totalling 2,750,000 shares, a drop of 16.9% from the March 15th total of 3,310,000 shares. Approximately 5.8% of the shares of the company are sold short. Based on an average trading volume of 1,180,000 shares, the short-interest ratio is presently 2.3 days.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on TSVT. Leerink Partnrs lowered shares of 2seventy bio from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, March 11th. Morgan Stanley reduced their price objective on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating for the company in a report on Friday, March 14th. Weiss Ratings reissued a "sell (d-)" rating on shares of 2seventy bio in a report on Tuesday, April 8th. Finally, Leerink Partners restated a "market perform" rating and issued a $5.00 price target (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. One investment analyst has rated the stock with a sell rating, four have given a hold rating, one has issued a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $5.60.

2seventy bio Trading Down 0.1 %

Shares of NASDAQ TSVT traded down $0.01 during trading on Thursday, reaching $4.99. The company had a trading volume of 112,081 shares, compared to its average volume of 619,898. 2seventy bio has a twelve month low of $2.29 and a twelve month high of $5.30. The stock has a 50-day moving average price of $4.21 and a two-hundred day moving average price of $3.77. The stock has a market capitalization of $260.90 million, a PE ratio of -2.68 and a beta of 1.04.

2seventy bio (NASDAQ:TSVT - Get Free Report) last released its earnings results on Tuesday, March 25th. The company reported ($0.31) earnings per share (EPS) 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, sell-side analysts predict that 2seventy bio will post -1.46 EPS for the current year.

Insider Transactions at 2seventy bio

In related news, CEO William D. Baird III sold 5,092 shares of the 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 completion of the transaction, the chief executive officer now directly owns 1,121,034 shares of the company's stock, valued at $5,549,118.30. This represents a 0.45 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the firm's stock in a transaction that occurred on Tuesday, March 11th. The shares were sold at an average price of $4.93, for a total value of $25,350,607.23. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 5,152,093 shares of company stock worth $25,400,018. Insiders own 7.20% of the company's stock.

Institutional Trading of 2seventy bio

A number of hedge funds have recently bought and sold shares of the company. State Street Corp lifted its stake in shares of 2seventy bio by 1.5% during the 3rd quarter. State Street Corp now owns 1,058,773 shares of the company's stock worth $4,997,000 after purchasing an additional 15,638 shares during the period. XTX Topco Ltd lifted its position in 2seventy bio by 61.1% during the third quarter. XTX Topco Ltd now owns 24,416 shares of the company's stock worth $115,000 after buying an additional 9,257 shares during the period. Geode Capital Management LLC lifted its position in 2seventy bio by 1.1% during the third quarter. Geode Capital Management LLC now owns 1,176,244 shares of the company's stock worth $5,553,000 after buying an additional 13,144 shares during the period. China Universal Asset Management Co. Ltd. acquired a new stake in 2seventy bio in the 4th quarter worth about $32,000. Finally, Rhumbline Advisers grew its holdings in 2seventy bio by 9.5% in the 4th quarter. Rhumbline Advisers now owns 84,670 shares of the company's stock valued at $249,000 after buying an additional 7,379 shares during the period. Institutional investors and hedge funds own 93.90% of the company's stock.

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.