Shares of Translate Bio Inc (NASDAQ:TBIO) saw strong trading volume on Friday . 1,378,700 shares changed hands during mid-day trading, an increase of 538% from the previous session’s volume of 216,146 shares.The stock last traded at $8.13 and had previously closed at $7.94.
A number of analysts have commented on the company. HC Wainwright reiterated a “buy” rating and issued a $21.00 price objective on shares of Translate Bio in a research report on Thursday, August 1st. Jefferies Financial Group assumed coverage on Translate Bio in a research report on Monday, July 22nd. They issued a “buy” rating and a $20.00 price objective for the company. Roth Capital assumed coverage on Translate Bio in a research report on Tuesday, June 18th. They issued a “buy” rating and a $25.00 price objective for the company. Finally, Zacks Investment Research upgraded Translate Bio from a “sell” rating to a “hold” rating in a research report on Tuesday, July 16th. Two equities research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and an average target price of $22.75.
The stock has a 50-day simple moving average of $9.54 and a 200 day simple moving average of $9.63. The company has a debt-to-equity ratio of 1.15, a quick ratio of 7.67 and a current ratio of 7.67. The company has a market cap of $420.33 million, a P/E ratio of -2.23 and a beta of 1.01.
Institutional investors have recently bought and sold shares of the stock. BlackRock Inc. lifted its position in shares of Translate Bio by 130.2% during the 4th quarter. BlackRock Inc. now owns 982,405 shares of the company’s stock worth $7,367,000 after buying an additional 555,635 shares during the period. Aevitas Wealth Management Inc. bought a new position in shares of Translate Bio during the 1st quarter worth approximately $58,000. Bailard Inc. bought a new position in shares of Translate Bio during the 1st quarter worth approximately $135,000. Northern Trust Corp lifted its position in shares of Translate Bio by 12.4% during the 4th quarter. Northern Trust Corp now owns 111,339 shares of the company’s stock worth $835,000 after buying an additional 12,242 shares during the period. Finally, Two Sigma Investments LP bought a new position in shares of Translate Bio during the 4th quarter worth approximately $118,000. Institutional investors and hedge funds own 57.90% 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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