Monashee Investment Management LLC Makes New Investment in Translate Bio Inc (NASDAQ:TBIO)

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Monashee Investment Management LLC purchased a new position in shares of Translate Bio Inc (NASDAQ:TBIO) during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 300,000 shares of the company’s stock, valued at approximately $3,789,000. Translate Bio makes up about 1.0% of Monashee Investment Management LLC’s holdings, making the stock its 28th biggest position. Monashee Investment Management LLC owned about 0.59% of Translate Bio as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds also recently added to or reduced their stakes in the company. Aevitas Wealth Management Inc. bought a new stake in shares of Translate Bio during the 1st quarter worth about $58,000. BNP Paribas Arbitrage SA bought a new stake in shares of Translate Bio in the 1st quarter worth approximately $63,000. Metropolitan Life Insurance Co NY bought a new stake in shares of Translate Bio in the 1st quarter worth approximately $119,000. Bailard Inc. bought a new stake in shares of Translate Bio in the 1st quarter worth approximately $135,000. Finally, MetLife Investment Advisors LLC bought a new stake in shares of Translate Bio in the 1st quarter worth approximately $165,000. Institutional investors own 64.73% of the company’s stock.

A number of analysts recently commented on TBIO shares. Jefferies Financial Group started coverage on shares of Translate Bio in a report on Monday, July 22nd. They issued a “buy” rating and a $20.00 target price on the stock. Zacks Investment Research upgraded shares of Translate Bio from a “sell” rating to a “hold” rating in a report on Tuesday, July 16th. HC Wainwright reiterated a “buy” rating and issued a $21.00 target price on shares of Translate Bio in a report on Thursday, August 1st. Finally, Roth Capital started coverage on shares of Translate Bio in a report on Tuesday, June 18th. They issued a “buy” rating and a $25.00 target price on the stock. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The stock presently has an average rating of “Buy” and a consensus price target of $22.75.

Shares of Translate Bio stock traded down $0.13 during trading on Tuesday, hitting $8.62. The stock had a trading volume of 3,365 shares, compared to its average volume of 347,385. The stock has a 50 day simple moving average of $8.82 and a 200 day simple moving average of $9.70. The company has a market capitalization of $425.43 million, a PE ratio of -2.38 and a beta of 1.01. The company has a quick ratio of 7.67, a current ratio of 7.67 and a debt-to-equity ratio of 1.15. Translate Bio Inc has a 1 year low of $4.81 and a 1 year high of $14.34.

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

Translate Bio 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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Institutional Ownership by Quarter for Translate Bio (NASDAQ:TBIO)

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