Translate Bio Inc (NASDAQ:TBIO) saw a significant growth in short interest in the month of August. As of August 31st, there was short interest totalling 3,250,000 shares, a growth of 53.9% from the July 31st total of 2,111,200 shares. Currently, 11.1% of the company’s shares are short sold. Based on an average daily trading volume, of 259,400 shares, the days-to-cover ratio is presently 12.5 days.
A number of large investors have recently added to or reduced their stakes in the business. Baupost Group LLC MA increased its position in Translate Bio by 36.2% during the 2nd quarter. Baupost Group LLC MA now owns 8,844,239 shares of the company’s stock valued at $109,372,000 after purchasing an additional 2,352,941 shares during the period. BlackRock Inc. increased its position in Translate Bio by 28.0% during the 2nd quarter. BlackRock Inc. now owns 2,515,392 shares of the company’s stock valued at $31,769,000 after purchasing an additional 549,817 shares during the period. Vanguard Group Inc. increased its position in Translate Bio by 80.6% during the 2nd quarter. Vanguard Group Inc. now owns 1,524,907 shares of the company’s stock valued at $19,259,000 after purchasing an additional 680,330 shares during the period. Artal Group S.A. increased its position in Translate Bio by 25.0% during the 2nd quarter. Artal Group S.A. now owns 750,000 shares of the company’s stock valued at $9,473,000 after purchasing an additional 150,000 shares during the period. Finally, Northern Trust Corp increased its position in Translate Bio by 7.5% during the 2nd quarter. Northern Trust Corp now owns 310,246 shares of the company’s stock valued at $3,919,000 after purchasing an additional 21,593 shares during the period. 72.68% of the stock is owned by institutional investors and hedge funds.
NASDAQ:TBIO traded up $0.13 on Thursday, reaching $10.40. 104,716 shares of the stock traded hands, compared to its average volume of 219,033. The firm has a market capitalization of $523.87 million, a price-to-earnings ratio of -2.86 and a beta of 0.90. The company’s 50 day moving average is $8.71 and its 200-day moving average is $9.82. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 1.15. Translate Bio 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 analysts’ consensus estimates of ($0.48) by ($0.09). The firm had revenue of $1.17 million for the quarter, compared to analyst estimates of $1.73 million. Translate Bio had a negative net margin of 2,696.98% and a negative return on equity of 84.22%. On average, equities research analysts forecast that Translate Bio will post -1.96 EPS for the current fiscal year.
Several research analysts have recently issued reports on TBIO shares. Leerink Swann dropped coverage on Translate Bio in a research note on Tuesday. Citigroup set a $17.00 price objective on Translate Bio and gave the company a “buy” rating in a research note on Tuesday. Roth Capital started coverage on Translate Bio in a research note on Tuesday, June 18th. They issued a “buy” rating and a $25.00 price objective for the company. Zacks Investment Research raised Translate Bio from a “sell” rating to a “hold” rating in a research note on Tuesday, July 16th. Finally, HC Wainwright reaffirmed a “buy” rating and issued a $21.00 price objective on shares of Translate Bio in a research note on Thursday, August 1st. Two analysts have rated the stock with a hold rating and five have given a buy rating to the company. The company has a consensus rating of “Buy” and an average target price of $20.60.
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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