Zacks Investment Research Lowers Translate Bio (NASDAQ:TBIO) to Hold

Zacks Investment Research cut shares of Translate Bio (NASDAQ:TBIO) from a buy rating to a hold rating in a research report report published on Tuesday, Zacks.com reports.

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. “

TBIO has been the topic of several other reports. HC Wainwright reaffirmed a buy rating and issued a $21.00 price target on shares of Translate Bio in a research note on Thursday, August 1st. Jefferies Financial Group initiated coverage on Translate Bio in a research note on Monday, July 22nd. They issued a buy rating and a $20.00 price target on the stock. Citigroup set a $17.00 target price on Translate Bio and gave the stock a buy rating in a research note on Tuesday, September 10th. Finally, ValuEngine raised Translate Bio from a sell rating to a hold rating in a research note on Sunday, October 13th. Two investment analysts have rated the stock with a hold rating and four have given a buy rating to the company. The stock has an average rating of Buy and an average price target of $20.75.

NASDAQ:TBIO traded up $0.25 during mid-day trading on Tuesday, reaching $9.41. The stock had a trading volume of 154,200 shares, compared to its average volume of 151,761. The stock has a market capitalization of $558.80 million, a P/E ratio of -2.59 and a beta of 0.88. The firm has a 50 day moving average price of $9.23 and a two-hundred day moving average price of $9.64. Translate Bio has a one year low of $4.81 and a one year high of $14.34. The company has a debt-to-equity ratio of 0.62, a quick ratio of 7.67 and a current ratio of 8.62.

Several hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Bank of Montreal Can purchased a new stake in shares of Translate Bio in the second quarter worth $31,000. Wells Fargo & Company MN grew its stake in shares of Translate Bio by 30.5% in the second quarter. Wells Fargo & Company MN now owns 14,532 shares of the company’s stock worth $183,000 after acquiring an additional 3,393 shares during the last quarter. California Public Employees Retirement System grew its stake in shares of Translate Bio by 33.7% in the third quarter. California Public Employees Retirement System now owns 14,229 shares of the company’s stock worth $141,000 after acquiring an additional 3,586 shares during the last quarter. Bank of New York Mellon Corp grew its stake in shares of Translate Bio by 6.9% in the second quarter. Bank of New York Mellon Corp now owns 85,689 shares of the company’s stock worth $1,083,000 after acquiring an additional 5,544 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. grew its stake in shares of Translate Bio by 13.6% in the second quarter. Charles Schwab Investment Management Inc. now owns 74,330 shares of the company’s stock worth $939,000 after acquiring an additional 8,892 shares during the last quarter. 72.70% of the stock is currently owned by hedge funds and other institutional investors.

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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