Translate Bio (NASDAQ:TBIO) Trading Down 8.9%

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Translate Bio Inc (NASDAQ:TBIO) shares were down 8.9% on Wednesday . The company traded as low as $9.87 and last traded at $10.01, approximately 1,826,469 shares were traded during mid-day trading. An increase of 705% from the average daily volume of 226,829 shares. The stock had previously closed at $10.99.

A number of research analysts have weighed in on TBIO shares. Citigroup set a $17.00 price target on shares of Translate Bio and gave the company a “buy” rating in a research note on Tuesday, September 10th. Roth Capital began coverage on shares of Translate Bio in a research note on Tuesday, June 18th. They issued a “buy” rating and a $25.00 price target on the stock. Zacks Investment Research raised shares of Translate Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Jefferies Financial Group began coverage on shares of Translate Bio in a research report on Monday, July 22nd. They issued a “buy” rating and a $20.00 price objective on the stock. Finally, HC Wainwright reissued a “buy” rating and issued a $21.00 price objective on shares of Translate Bio in a research report on Thursday, August 1st. Two equities research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Translate Bio presently has an average rating of “Buy” and an average price target of $21.60.

The stock’s 50-day moving average price is $8.97 and its 200 day moving average price is $9.86. The company has a debt-to-equity ratio of 1.15, a current ratio of 7.67 and a quick ratio of 7.67. The firm has a market cap of $560.60 million, a P/E ratio of -2.75 and a beta of 0.90.

Translate Bio (NASDAQ:TBIO) last announced its quarterly earnings data on Wednesday, July 31st. The company reported ($0.57) EPS for the quarter, missing the Zacks’ consensus estimate of ($0.48) by ($0.09). The business had revenue of $1.17 million during the quarter, compared to the consensus estimate 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, analysts forecast that Translate Bio Inc will post -1.96 EPS for the current fiscal year.

A number of institutional investors and hedge funds have recently modified their holdings of the stock. Bank of Montreal Can acquired a new position in shares of Translate Bio in the second quarter valued at $31,000. Aevitas Wealth Management Inc. acquired a new position in shares of Translate Bio in the first quarter valued at $58,000. BNP Paribas Arbitrage SA acquired a new position in shares of Translate Bio in the first quarter valued at $63,000. Metropolitan Life Insurance Co NY acquired a new position in shares of Translate Bio in the first quarter valued at $119,000. Finally, Susquehanna International Group LLP acquired a new position in shares of Translate Bio in the second quarter valued at $147,000. Institutional investors and hedge funds own 72.68% of the company’s stock.

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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