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

2seventy bio, Inc. (NASDAQ:TSVT) was the target of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 7,290,000 shares, an increase of 24.4% from the June 30th total of 5,860,000 shares. Based on an average daily trading volume, of 558,400 shares, the short-interest ratio is currently 13.1 days. Currently, 15.2% of the company’s shares are short sold.

Institutional Trading of 2seventy bio

A number of institutional investors have recently modified their holdings of the business. Tower Research Capital LLC TRC lifted its stake in shares of 2seventy bio by 15.2% during the 4th quarter. Tower Research Capital LLC TRC now owns 14,629 shares of the company’s stock valued at $62,000 after buying an additional 1,925 shares in the last quarter. Price T Rowe Associates Inc. MD lifted its stake in shares of 2seventy bio by 11.1% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 28,929 shares of the company’s stock valued at $155,000 after buying an additional 2,893 shares in the last quarter. SG Americas Securities LLC lifted its stake in 2seventy bio by 20.9% in the 4th quarter. SG Americas Securities LLC now owns 27,315 shares of the company’s stock worth $117,000 after purchasing an additional 4,715 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in 2seventy bio by 5.4% in the 2nd quarter. Bank of New York Mellon Corp now owns 196,959 shares of the company’s stock worth $758,000 after purchasing an additional 10,077 shares in the last quarter. Finally, Nisa Investment Advisors LLC purchased a new stake in 2seventy bio in the 2nd quarter worth approximately $52,000. 93.90% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the stock. Canaccord Genuity Group dropped their target price on shares of 2seventy bio from $12.00 to $11.00 and set a “buy” rating on the stock in a report on Thursday, May 9th. Citigroup boosted their target price on shares of 2seventy bio from $9.00 to $12.00 and gave the company a “buy” rating in a report on Monday, April 8th. Wedbush reiterated a “neutral” rating and set a $5.00 price objective on shares of 2seventy bio in a report on Thursday, June 27th. The Goldman Sachs Group downgraded shares of 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 research report on Thursday, June 6th. Finally, Canaccord Genuity Group raised shares of 2seventy bio to a “strong-buy” rating in a research report on Thursday, May 9th. One research analyst has rated the stock with a sell rating, four have issued a hold rating, four have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $11.43.

2seventy bio Stock Up 0.4 %

TSVT stock traded up $0.02 during trading on Monday, reaching $4.81. The stock had a trading volume of 414,979 shares, compared to its average volume of 1,000,223. 2seventy bio has a one year low of $1.53 and a one year high of $8.08. The company’s 50 day moving average is $4.20 and its two-hundred day moving average is $4.60. The company has a market capitalization of $247.23 million, a price-to-earnings ratio of -1.09 and a beta of 1.76.

2seventy bio (NASDAQ:TSVT) last released its earnings results on Wednesday, May 8th. The company reported ($0.81) earnings per share for the quarter, missing analysts’ consensus estimates of ($0.72) by ($0.09). 2seventy bio had a negative net margin of 313.51% and a negative return on equity of 67.59%. The company had revenue of $12.44 million for the quarter, compared to the consensus estimate of $11.93 million. As a group, research analysts predict that 2seventy bio will post -0.93 earnings per share for the current fiscal year.

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.