Translate Bio, Inc. (NASDAQ:TBIO) CEO Ronald C. Renaud, Jr. Sells 503,231 Shares of Stock

Translate Bio, Inc. (NASDAQ:TBIO) CEO Ronald C. Renaud, Jr. sold 503,231 shares of the stock in a transaction dated Tuesday, September 14th. The stock was sold at an average price of $38.00, for a total transaction of $19,122,778.00. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website.

Translate Bio stock opened at $37.36 on Wednesday. Translate Bio, Inc. has a twelve month low of $11.91 and a twelve month high of $37.99. The company’s 50-day moving average price is $34.87 and its two-hundred day moving average price is $25.36. The stock has a market cap of $2.82 billion, a P/E ratio of 66.71 and a beta of 0.99.

Translate Bio (NASDAQ:TBIO) last announced its earnings results on Wednesday, August 4th. The company reported $0.21 EPS for the quarter, topping the Thomson Reuters’ consensus estimate of ($0.23) by $0.44. Translate Bio had a net margin of 17.97% and a return on equity of 1.50%. The company had revenue of $72.65 million for the quarter, compared to analysts’ expectations of $38.23 million. As a group, equities analysts forecast that Translate Bio, Inc. will post -0.6 EPS for the current year.

Several equities research analysts recently issued reports on TBIO shares. Zacks Investment Research upgraded shares of Translate Bio from a “hold” rating to a “buy” rating and set a $33.00 target price for the company in a research note on Wednesday, August 4th. Jefferies Financial Group downgraded shares of Translate Bio from a “buy” rating to a “hold” rating in a research note on Tuesday, August 3rd. SVB Leerink raised their target price on shares of Translate Bio from $19.00 to $38.00 and gave the company a “market perform” rating in a research note on Tuesday, August 3rd. Roth Capital cut their target price on shares of Translate Bio from $45.00 to $38.00 and set a “neutral” rating for the company in a research note on Tuesday, August 3rd. Finally, TheStreet upgraded shares of Translate Bio from a “d+” rating to a “c” rating in a research note on Thursday, May 27th. Seven analysts have rated the stock with a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average price target of $27.13.

Several institutional investors and hedge funds have recently made changes to their positions in the company. Rock Springs Capital Management LP boosted its position in shares of Translate Bio by 1.0% during the 1st quarter. Rock Springs Capital Management LP now owns 649,900 shares of the company’s stock worth $10,717,000 after acquiring an additional 6,400 shares in the last quarter. Woodline Partners LP boosted its position in shares of Translate Bio by 55.8% during the 1st quarter. Woodline Partners LP now owns 225,683 shares of the company’s stock worth $3,722,000 after acquiring an additional 80,840 shares in the last quarter. Camber Capital Management LP acquired a new stake in shares of Translate Bio during the 1st quarter worth approximately $18,964,000. Nkcfo LLC acquired a new stake in shares of Translate Bio during the 2nd quarter worth approximately $179,000. Finally, Panagora Asset Management Inc. acquired a new stake in shares of Translate Bio during the 1st quarter worth approximately $598,000. 88.84% of the stock is currently owned by institutional investors.

About Translate Bio

Translate Bio, Inc engages in the research and development of therapeutic drugs. It focuses on developing medicines to treat diseases caused by protein or gene dysfunction. Its lead product candidate, MRT5005 is designed for the treatment of cystic fibrosis. The company was founded by Arthur M. Krieg and Jeannie T.

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