Translate Bio (NASDAQ:TBIO) Trading 5.3% Higher

Shares of Translate Bio Inc (NASDAQ:TBIO) traded up 5.3% on Thursday . The stock traded as high as $9.29 and last traded at $8.91, 348,100 shares changed hands during trading. An increase of 50% from the average session volume of 232,019 shares. The stock had previously closed at $8.46.

Several research analysts have recently weighed in on the company. ValuEngine raised Translate Bio from a “hold” rating to a “buy” rating in a research report on Wednesday. Zacks Investment Research cut Translate Bio from a “buy” rating to a “hold” rating in a research report on Tuesday, November 12th. Finally, Citigroup set a $17.00 price objective on Translate Bio and gave the stock a “buy” rating in a research report on Tuesday, September 10th. One equities research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. Translate Bio has an average rating of “Buy” and a consensus target price of $20.75.

The firm has a 50-day moving average of $9.53 and a 200 day moving average of $9.66. The company has a debt-to-equity ratio of 0.62, a current ratio of 8.62 and a quick ratio of 8.62. The stock has a market capitalization of $508.97 million, a price-to-earnings ratio of -2.45 and a beta of 0.92.

Translate Bio (NASDAQ:TBIO) last issued its quarterly earnings results on Wednesday, November 6th. The company reported ($0.41) EPS for the quarter, beating the consensus estimate of ($0.45) by $0.04. Translate Bio had a negative return on equity of 59.18% and a negative net margin of 1,732.61%. The firm had revenue of $1.27 million during the quarter, compared to analysts’ expectations of $1.77 million. On average, equities analysts forecast that Translate Bio Inc will post -1.56 earnings per share for the current year.

A number of hedge funds and other institutional investors have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in Translate Bio during the second quarter valued at approximately $31,000. Wells Fargo & Company MN raised its stake in Translate Bio by 30.5% in the second quarter. Wells Fargo & Company MN now owns 14,532 shares of the company’s stock valued at $183,000 after buying an additional 3,393 shares during the period. California Public Employees Retirement System raised its stake in Translate Bio by 33.7% in the third quarter. California Public Employees Retirement System now owns 14,229 shares of the company’s stock valued at $141,000 after buying an additional 3,586 shares during the period. Bank of New York Mellon Corp raised its stake in Translate Bio by 6.9% in the second 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 during the period. Finally, Charles Schwab Investment Management Inc. raised its stake in Translate Bio by 13.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 74,330 shares of the company’s stock valued at $939,000 after buying an additional 8,892 shares during the period. 87.71% of the stock is owned by hedge funds and other institutional investors.

About Translate Bio (NASDAQ:TBIO)

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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