Translate Bio Inc (NASDAQ:TBIO) Sees Large Increase in Short Interest

Translate Bio Inc (NASDAQ:TBIO) saw a large growth in short interest in August. As of August 31st, there was short interest totalling 3,250,000 shares, a growth of 53.9% from the July 31st total of 2,111,200 shares. Approximately 11.1% of the company’s shares are short sold. Based on an average trading volume of 259,400 shares, the days-to-cover ratio is presently 12.5 days.

TBIO has been the subject of several research reports. HC Wainwright reissued a “buy” rating and issued a $21.00 price target on shares of Translate Bio in a research report on Thursday, August 1st. Jefferies Financial Group assumed coverage on Translate Bio in a report on Monday, July 22nd. They set a “buy” rating and a $20.00 target price for the company. Zacks Investment Research upgraded Translate Bio from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. Leerink Swann dropped coverage on Translate Bio in a report on Tuesday. Finally, Citigroup set a $17.00 price objective on Translate Bio and gave the stock a “buy” rating in a report on Tuesday. Two analysts have rated the stock with a hold rating and five have issued a buy rating to the company. The company currently has a consensus rating of “Buy” and an average target price of $20.60.

TBIO traded up $0.09 on Friday, hitting $10.41. 25 shares of the company’s stock traded hands, compared to its average volume of 304,121. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 1.15. Translate Bio has a one year low of $4.81 and a one year high of $14.34. The company’s 50 day simple moving average is $8.71 and its 200-day simple moving average is $9.82. The firm has a market cap of $500.41 million, a price-to-earnings ratio of -2.86 and a beta of 0.90.

Translate Bio (NASDAQ:TBIO) last announced its earnings results on Wednesday, July 31st. The company reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.09). Translate Bio had a negative return on equity of 84.22% and a negative net margin of 2,696.98%. The company had revenue of $1.17 million during the quarter, compared to analysts’ expectations of $1.73 million. As a group, equities analysts anticipate that Translate Bio will post -1.96 EPS for the current fiscal year.

A number of large investors have recently made changes to their positions in TBIO. Bank of Montreal Can acquired a new position in shares of Translate Bio in the second quarter valued at about $31,000. Wells Fargo & Company MN boosted its stake in shares of Translate Bio by 30.5% during the 2nd quarter. Wells Fargo & Company MN now owns 14,532 shares of the company’s stock worth $183,000 after acquiring an additional 3,393 shares in the last quarter. Bank of New York Mellon Corp lifted its stake in Translate Bio by 6.9% in the 2nd quarter. Bank of New York Mellon Corp now owns 85,689 shares of the company’s stock valued at $1,083,000 after buying an additional 5,544 shares in the last quarter. Aevitas Wealth Management Inc. purchased a new stake in Translate Bio in the 1st quarter valued at approximately $58,000. Finally, BNP Paribas Arbitrage SA purchased a new stake in Translate Bio in the 1st quarter valued at approximately $63,000. 72.68% of the stock is currently owned by institutional investors.

Translate Bio Company Profile

Translate Bio, Inc, a clinical-stage messenger RNA (mRNA) therapeutics company, develops medicines to treat diseases caused by protein or gene dysfunction. The company is developing MRT5005, which is in Phase I/II clinical trial for the treatment of cystic fibrosis; and MRT5201 to treat ornithine transcarbamylase deficiency.

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