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

2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) was the recipient of 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. Currently, 7.0% of the company's shares are short sold. Based on an average daily volume of 1,000,000 shares, the short-interest ratio is presently 3.3 days.

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Leerink Partners reaffirmed a "market perform" rating and set a $5.00 price objective (down previously from $9.00) on shares of 2seventy bio in a research report on Tuesday, March 11th. Leerink Partnrs cut 2seventy bio from a "strong-buy" rating to a "hold" rating in a research note on Tuesday, March 11th. Morgan Stanley decreased their target price on 2seventy bio from $6.00 to $5.00 and set an "equal weight" rating on the stock in a research note on Friday, March 14th. Finally, Weiss Ratings reaffirmed a "sell (e+)" rating on shares of 2seventy bio in a research report on Saturday, March 22nd. One analyst has rated the stock with a sell rating, four have assigned a hold rating, two have assigned a buy rating and one has issued a strong buy rating to the company's stock. Based on data from MarketBeat, 2seventy bio presently has a consensus rating of "Hold" and an average price target of $6.67.

Insider Buying and Selling

In related news, CEO William D. Baird III sold 5,092 shares of the firm's stock in a transaction dated Monday, March 17th. The stock was sold at an average price of $4.95, for a total transaction of $25,205.40. Following the completion of the sale, the chief executive officer now directly owns 1,121,034 shares of the company's stock, valued at approximately $5,549,118.30. This trade represents a 0.45 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, major shareholder Global Healthcare Master Kynam sold 5,142,111 shares of the company's 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. Over the last ninety days, insiders sold 5,152,093 shares of company stock worth $25,400,018. Insiders own 7.20% of the company's stock.

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Institutional Investors Weigh In On 2seventy bio

Several institutional investors have recently modified their holdings of TSVT. Intech Investment Management LLC acquired a new stake in 2seventy bio in the third quarter valued at $69,000. FMR LLC boosted its holdings in 2seventy bio by 22.0% in the third quarter. FMR LLC now owns 148,545 shares of the company's stock valued at $701,000 after purchasing an additional 26,738 shares in the last quarter. PDT Partners LLC acquired a new position in shares of 2seventy bio in the 3rd quarter valued at $244,000. Erste Asset Management GmbH purchased a new position in shares of 2seventy bio in the 3rd quarter valued at $25,000. Finally, Readystate Asset Management LP purchased a new position in shares of 2seventy bio in the 3rd quarter valued at $53,000. 93.90% of the stock is owned by hedge funds and other institutional investors.

2seventy bio Stock Performance

TSVT remained flat at $4.96 on Thursday. The company had a trading volume of 680,773 shares, compared to its average volume of 606,762. The business has a fifty day moving average price of $3.39 and a 200-day moving average price of $3.73. 2seventy bio has a 1 year low of $2.29 and a 1 year high of $5.90. The stock has a market capitalization of $259.60 million, a P/E ratio of -2.67 and a beta of 1.73.

2seventy bio (NASDAQ:TSVT - Get Free Report) last released its earnings results 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 return on equity of 53.65% and a negative net margin of 207.25%. The firm had revenue of $2.93 million for the quarter, compared to analysts' expectations of $12.84 million. Research analysts forecast that 2seventy bio will post -1.46 earnings per share for the current fiscal year.

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.