SunTrust Banks started coverage on shares of Translate Bio (NASDAQ:TBIO) in a report published on Friday morning, BenzingaRatingsTable reports. The firm issued a buy rating and a $40.00 price objective on the stock.
Other research analysts have also recently issued reports about the company. Roth Capital boosted their price target on Translate Bio from $25.00 to $30.00 and gave the stock a buy rating in a report on Tuesday, June 23rd. Citigroup boosted their target price on shares of Translate Bio from $17.00 to $35.00 and gave the stock a buy rating in a report on Thursday, June 25th. Zacks Investment Research raised shares of Translate Bio from a hold rating to a buy rating and set a $18.00 target price for the company in a research note on Friday, June 19th. ValuEngine cut shares of Translate Bio from a buy rating to a hold rating in a research note on Monday, June 1st. Finally, TheStreet raised shares of Translate Bio from a d rating to a c- rating in a report on Tuesday, June 23rd. One analyst has rated the stock with a hold rating and seven have given a buy rating to the stock. The company presently has a consensus rating of Buy and an average price target of $29.00.
Shares of TBIO stock opened at $18.80 on Friday. The company has a debt-to-equity ratio of 0.08, a current ratio of 4.12 and a quick ratio of 4.12. Translate Bio has a one year low of $6.80 and a one year high of $28.09. The company’s fifty day moving average price is $17.76 and its 200-day moving average price is $11.21. The company has a market capitalization of $1.23 billion, a price-to-earnings ratio of -11.06 and a beta of 0.53.
In other Translate Bio news, major shareholder Human Genetic Therapies Shire sold 40,086 shares of the stock in a transaction on Wednesday, June 3rd. The shares were sold at an average price of $19.75, for a total transaction of $791,698.50. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. 12.30% of the stock is owned by corporate insiders.
A number of hedge funds and other institutional investors have recently modified their holdings of the business. State Street Corp raised its position in Translate Bio by 15.0% during the first quarter. State Street Corp now owns 713,107 shares of the company’s stock valued at $7,110,000 after purchasing an additional 92,770 shares during the period. Royal Bank of Canada increased its position in shares of Translate Bio by 420.4% during the 1st quarter. Royal Bank of Canada now owns 10,772 shares of the company’s stock valued at $108,000 after purchasing an additional 8,702 shares during the last quarter. HighTower Advisors LLC purchased a new stake in Translate Bio during the 1st quarter valued at $133,000. Invesco Ltd. bought a new stake in Translate Bio in the first quarter worth $509,000. Finally, Camber Capital Management LP boosted its stake in Translate Bio by 17.7% during the first quarter. Camber Capital Management LP now owns 1,765,000 shares of the company’s stock worth $17,597,000 after buying an additional 265,000 shares during the period. 83.92% of the stock is currently owned by institutional investors.
About Translate Bio
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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