Magnus Financial Group LLC Invests $895,000 in Translate Bio Inc (NASDAQ:TBIO)

Magnus Financial Group LLC acquired a new position in Translate Bio Inc (NASDAQ:TBIO) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 70,866 shares of the company’s stock, valued at approximately $895,000. Magnus Financial Group LLC owned approximately 0.14% of Translate Bio at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Aevitas Wealth Management Inc. purchased a new stake in shares of Translate Bio in the first quarter worth $58,000. BNP Paribas Arbitrage SA purchased a new stake in shares of Translate Bio in the first quarter worth $63,000. Metropolitan Life Insurance Co NY purchased a new stake in shares of Translate Bio in the first quarter worth $119,000. Bailard Inc. bought a new position in shares of Translate Bio during the first quarter worth $135,000. Finally, MetLife Investment Advisors LLC bought a new position in shares of Translate Bio during the first quarter worth $165,000. 64.73% of the stock is owned by hedge funds and other institutional investors.

Shares of NASDAQ:TBIO traded up $0.13 during midday trading on Monday, reaching $8.26. 9,994 shares of the company were exchanged, compared to its average volume of 279,959. The company has a current ratio of 7.67, a quick ratio of 7.67 and a debt-to-equity ratio of 1.15. The business’s fifty day moving average is $9.54 and its two-hundred day moving average is $9.63. Translate Bio Inc has a one year low of $4.81 and a one year high of $14.34. The stock has a market cap of $413.18 million, a PE ratio of -2.26 and a beta of 1.01.

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

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

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

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