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

2seventy bio, Inc. (NASDAQ:TSVT - Get Free Report) was the target of a large decrease in short interest in September. As of September 15th, there was short interest totalling 5,130,000 shares, a decrease of 13.8% from the August 31st total of 5,950,000 shares. Based on an average trading volume of 402,300 shares, the days-to-cover ratio is currently 12.8 days. Approximately 10.6% of the shares of the stock are short sold.

Insider Transactions at 2seventy bio

In other 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 completion of the sale, the insider now directly owns 156,330 shares in the company, valued at $675,345.60. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Corporate insiders own 7.20% of the company's stock.

Institutional Trading of 2seventy bio

Several hedge funds have recently made changes to their positions in TSVT. Madison Avenue Partners LP increased its stake in shares of 2seventy bio by 17.4% during the fourth quarter. Madison Avenue Partners LP now owns 1,754,788 shares of the company's stock worth $7,493,000 after buying an additional 260,663 shares during the period. Jacobs Levy Equity Management Inc. acquired a new stake in shares of 2seventy bio in the 1st quarter valued at $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 purchasing an additional 160,000 shares during the last quarter. Goldman Sachs Group Inc. grew its stake in shares of 2seventy bio by 512.4% during the fourth quarter. Goldman Sachs Group Inc. now owns 4,508,800 shares of the company's stock worth $19,253,000 after purchasing an additional 3,772,556 shares in the last quarter. Finally, Susquehanna Fundamental Investments LLC purchased a new position in 2seventy bio in the first quarter valued at $740,000. Institutional investors and hedge funds own 93.90% of the company's stock.

2seventy bio Stock Performance

Shares of 2seventy bio stock traded up $0.17 during trading hours on Friday, hitting $4.93. The company's stock had a trading volume of 632,807 shares, compared to its average volume of 849,761. The stock has a market cap of $253.90 million, a price-to-earnings ratio of -1.13 and a beta of 1.77. 2seventy bio has a twelve month low of $1.53 and a twelve month high of $6.40. The firm has a fifty day moving average of $4.58 and a 200-day moving average of $4.52.

2seventy bio (NASDAQ:TSVT - Get Free Report) last released its quarterly earnings results on Wednesday, August 7th. The company reported ($0.29) earnings per share (EPS) for the quarter, beating analysts' consensus estimates of ($0.35) by $0.06. 2seventy bio had a negative net margin of 354.16% and a negative return on equity of 66.01%. The business had revenue of $8.97 million for the quarter, compared to the consensus estimate of $11.43 million. On average, sell-side analysts expect that 2seventy bio will post -1.33 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on TSVT shares. The Goldman Sachs Group cut shares of 2seventy bio from a "neutral" rating to a "sell" rating and dropped their price objective for the company from $5.00 to $2.00 in a research note on Thursday, June 6th. Wedbush restated a "neutral" rating and issued a $5.00 price target on shares of 2seventy bio in a research report on Thursday, June 27th. Finally, Morgan Stanley reduced their price objective 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. One investment analyst has rated the stock with a sell rating, three have issued a hold rating, four have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and a consensus price target of $9.00.

About 2seventy bio

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.