2seventy bio Inc. (NASDAQ: TSVT) stock jumped 3.53% on Monday to $11.43 against a previous-day closing price of $11.04. With 0.61 million shares changed hands, the volume of the stock remained heavier than its average volume of 0.49 million shares. During the session, the Biotechnology company that operates in wider Healthcare sector, reached to the highest price of $11.51 whereas the lowest price it dropped to was $10.97. The 52-week range on TSVT shows that it touched its highest point at $21.32 and its lowest point at $8.44 during that stretch. It currently has a 1-year price target of $29.00.
Price Performance and Earnings:
Stock performance is one of the indicators that investors use to determine whether they will profit from a stock. The price performance of TSVT was up-trending over the past week, with a rise of 10.01%, but this was up by 14.30% over a month. Three-month performance dropped to -17.95% while six-month performance fell -13.28%. The stock lost -42.39% in the past year, while it has gained 21.99% so far this year. A look at the trailing 12-month EPS for TSVT yields -9.53 with Next year EPS estimates of -5.03. For the next quarter, that number is -1.57. This implies an EPS growth rate of -141.90% for this year and 42.30% for next year.
Float and Shares Shorts:
At present, 38.57 million TSVT shares are outstanding with a float of 37.30 million shares on hand for trading. On Oct 13, 2022, short shares totaled 1.88 million, which was 4.95% higher than short shares on Sep 14, 2022. In addition to Mr. Nick Leschly as the firm’s Pres, CEO & Director, Mr. William D. Baird III serves as its Chief Financial Officer.
Through their ownership of 94.49% of TSVT’s outstanding shares, institutional investors have majority control over the company. Other institutions hold 46.54% of TSVT, in contrast to 36.04% held by mutual funds. Shares owned by individuals account for 2.35%. As the largest shareholder in TSVT with 8.47% of the stake, Wellington Management Co. LLP holds 3,212,011 shares worth 3,212,011. A second-largest stockholder of TSVT, Ecor1 Capital LLC, holds 2,341,313 shares, controlling over 6.18% of the firm’s shares. SSgA Funds Management, Inc. is the third largest shareholder in TSVT, holding 2,300,501 shares or 6.07% stake. With a 5.40% stake in TSVT, the Vanguard Health Care Fund is the largest stakeholder. A total of 2,046,666 shares are owned by the mutual fund manager. The SPDR S&P Biotech ETF, which owns about 3.41% of TSVT stock, is the second-largest Mutual Fund holder. It holds 1,293,065 shares valued at 12.12 million. Vanguard Total Stock Market Index holds 2.92% of the stake in TSVT, owning 1,108,531 shares worth 10.39 million.
Reading analyst opinions is an effective way to decide where to invest, and there are several opinions available for TSVT since 7 analysts follow the stock currently. There are 7 analysts who recommend BUY ratings, while 0 suggest SELL ratings. Of the remaining analysts, 0 believe that the stock is worth HOLDING, 0 give it an OVERWEIGHT rating, and 0 thinks that it’s UNDERWEIGHT. In the same way, a target price assigned to a stock can also reveal much about its potential. With TSVT analysts setting a high price target of $34.00 and a low target of $27.00, the average target price over the next 12 months is $29.00. Based on these targets, TSVT could surge 197.46% to reach the target high and rise by 136.22% to reach the target low. Reaching the average price target will result in a growth of 153.72% from current levels.
EPS: Estimates vs Actual
It is also common to use earnings estimates to evaluate a firm’s growth potential and to determine trading strategy. TSVT will report FY 2022 earnings on 03/19/2024. Analysts have provided yearly estimates in a range of -$6.82 being high and -$8.77 being low. For TSVT, this leads to a yearly average estimate of -$7.98. The earnings surprise of a firm occurs when the actual results change from the consensus earnings estimate. 2seventy bio Inc. surprised analysts by $0.01 when it reported -$1.76 EPS against a consensus estimate of -$1.77. The surprise factor in the prior quarter was $0.13. Based on analyst estimates, the high estimate for the next quarter is -$1.10 and the low estimate is -$1.82. The average estimate for the next quarter is thus -$1.58.
Summary of Insider Activity:
Insiders traded TSVT stock several times over the past three months with 0 Buys and 2 Sells. In these transactions, 0 shares were bought while 7,969 shares were sold. The number of buy transactions has increased to 10 while that of sell transactions has risen to 11 over the past year. The total number of shares bought during that period was 657,107 while 34,406 shares were sold.