In the latest trading session,, 0.98 million 2seventy bio Inc (NASDAQ:TSVT) shares changed hands as the company’s beta touched 1.83. With the company’s most recent per share price at $5.05 changing hands around $0.15 or 3.00% at last look, the market valuation stands at $255.52M. TSVT’s current price is a discount, trading about -151.29% off its 52-week high of $12.69. The share price had its 52-week low at $1.53, which suggests the last value was 69.7% up since then. When we look at 2seventy bio Inc’s average trading volume, we note the 10-day average is 1.87 million shares, with the 3-month average coming to 1.47 million.
2seventy bio Inc (NASDAQ:TSVT) trade information
Instantly TSVT is in green as seen in intraday trades today. With action 12.40%, the performance over the past five days has been green. The jump to weekly highs of 5.64 added 3.00% to the stock’s daily price. The company’s shares are showing year-to-date upside of 18.19%, with the 5-day performance at 12.40% in the green. However, in the 30-day time frame, 2seventy bio Inc (NASDAQ:TSVT) is -8.24% down. Looking at the short shares, we see there were 5.59 million shares sold at short interest cover period of 3.36 days.
2seventy bio Inc (TSVT) estimates and forecasts
Data shows that the 2seventy bio Inc share is performing relatively much better than most of its peers within the same industry. As can be gleaned from the statistics, the company’s share value shot 56.25% over the past 6 months, a 69.23% in annual growth rate that is considerably higher than the industry average of 12.20%. Moreover, analysts have looked to higher expectations by upgrading its fiscal year 2024 revenue estimates. The rating firms predict current quarter revenue for 2seventy bio Inc will rise 30.60%, while the growth in revenue is estimated to hit 28.90% for the next quarter. Year-over-year growth is forecast to reach -17.50% down from the last financial year.
Consensus estimates given by 6 financial analysts project the company’s revenue in the current quarter to hit an average of $15.28 million. 6 analysts are of the opinion that 2seventy bio Inc’s revenue for the quarter ending Jun 2024 will be $19.09 million. The company’s revenue for the corresponding quarters a year ago was $22.3 million and $36.05 million respectively. According to analysts, the company will likely register a growth in its current quarter sales, forecast at -31.50%. The estimates for the next quarter sales put growth at -47.00%.
The 2024 estimates are for 2seventy bio Inc earnings to increase by 58.17%.
TSVT Dividends
2seventy bio Inc is expected to release its next quarterly earnings report between May 01 and May 06.
2seventy bio Inc (NASDAQ:TSVT)’s Major holders
If we look at who the major shareholders are, we find that insiders hold 2.06% of 2seventy bio Inc shares while 96.74% of the shares are in the hands of institutional holders. The share float percentage for the stock currently stands at 98.77%. There are 96.74% institutions holding the 2seventy bio Inc stock share, with Kynam Capital Management, LP the top institutional holder. As of Dec 30, 2023, the company held 11.60% of the shares, roughly 5.95 million TSVT shares worth $30.23 million.
Morgan Stanley holds the second largest percentage of outstanding shares, with 9.44% or 4.84 million shares worth $24.59 million as of Dec 30, 2023.
Among Mutual Funds, the top two as of Dec 30, 2023 were Vanguard Total Stock Market Index Fund and iShares Russell 2000 ETF. With 1.44 million shares estimated at $7.33 million under it, the former controlled 2.81% of total outstanding shares. On the other hand, iShares Russell 2000 ETF held about 2.57% of the shares, roughly 1.32 million shares worth around $6.69 million.
