Zacks Investment Research upgraded shares of Translate Bio (NASDAQ:TBIO) from a hold rating to a strong-buy rating in a report released on Wednesday morning, Zacks.com reports. The firm currently has $22.00 price objective on the stock.
According to Zacks, “Translate Bio, Inc. operates as a therapeutics company. It develops transformative medicines for the treatment of diseases caused by protein and gene dysfunction. Translate Bio, Inc. is based in MA, United States. “
Other analysts also recently issued reports about the company. SVB Leerink increased their price target on Translate Bio from $21.00 to $30.00 and gave the company an outperform rating in a report on Friday, June 26th. SunTrust Banks initiated coverage on Translate Bio in a report on Friday, June 26th. They issued a buy rating and a $40.00 price target for the company. TheStreet upgraded Translate Bio from a d rating to a c- rating in a research note on Tuesday, June 23rd. Jefferies Financial Group raised their target price on Translate Bio from $17.00 to $29.00 and gave the company a buy rating in a research note on Tuesday, June 23rd. Finally, Roth Capital raised their target price on Translate Bio from $25.00 to $30.00 and gave the company a buy rating in a research note on Tuesday, June 23rd. One investment analyst has rated the stock with a hold rating, six have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of Buy and a consensus target price of $29.57.
Translate Bio (NASDAQ:TBIO) last released its quarterly earnings data on Thursday, May 7th. The company reported ($0.24) EPS for the quarter, topping analysts’ consensus estimates of ($0.44) by $0.20. The business had revenue of $4.65 million during the quarter, compared to the consensus estimate of $2.23 million. Translate Bio had a negative return on equity of 63.61% and a negative net margin of 859.22%. Research analysts expect that Translate Bio will post -1.47 EPS for the current year.
In other news, major shareholder Baupost Group Llc/Ma purchased 500,000 shares of the company’s stock in a transaction on Friday, June 26th. The shares were bought at an average price of $22.00 per share, for a total transaction of $11,000,000.00. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, major shareholder Human Genetic Therapies Shire sold 40,086 shares of the firm’s stock in a transaction that occurred on Wednesday, June 3rd. The shares were sold at an average price of $19.75, for a total transaction of $791,698.50. The disclosure for this sale can be found here. Insiders sold 6,973,550 shares of company stock worth $144,086,787 in the last three months. 12.30% of the stock is currently owned by corporate insiders.
Several large investors have recently made changes to their positions in TBIO. Camber Capital Management LP increased its stake in shares of Translate Bio by 17.7% during the first quarter. Camber Capital Management LP now owns 1,765,000 shares of the company’s stock valued at $17,597,000 after acquiring an additional 265,000 shares during the period. Federated Hermes Inc. increased its stake in shares of Translate Bio by 9.2% during the first quarter. Federated Hermes Inc. now owns 2,289,162 shares of the company’s stock valued at $22,823,000 after acquiring an additional 192,634 shares during the period. Norges Bank acquired a new position in shares of Translate Bio during the fourth quarter valued at approximately $1,146,000. State Street Corp increased its stake in shares of 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 acquiring an additional 92,770 shares during the period. Finally, JPMorgan Chase & Co. increased its stake in shares of Translate Bio by 123.9% during the first quarter. JPMorgan Chase & Co. now owns 117,855 shares of the company’s stock valued at $1,175,000 after acquiring an additional 65,218 shares during the period. Institutional investors own 83.92% of the company’s stock.
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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