Translate Bio, Inc. (NASDAQ:TBIO) Short Interest Up 43.5% in August

Translate Bio, Inc. (NASDAQ:TBIO) was the recipient of a significant increase in short interest during the month of August. As of August 31st, there was short interest totalling 4,290,000 shares, an increase of 43.5% from the August 15th total of 2,990,000 shares. Based on an average trading volume of 2,670,000 shares, the days-to-cover ratio is currently 1.6 days. Currently, 6.4% of the shares of the company are short sold.

Shares of NASDAQ:TBIO opened at $37.36 on Tuesday. Translate Bio has a 52-week low of $11.91 and a 52-week high of $37.99. The firm has a fifty day moving average of $35.54 and a 200 day moving average of $25.79. The firm has a market capitalization of $2.82 billion, a PE 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 earnings per share (EPS) for the quarter, topping the 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 during the quarter, compared to analyst estimates of $38.23 million. Equities analysts predict that Translate Bio will post -0.6 earnings per share for the current fiscal year.

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

In related news, Director Owen Hughes sold 29,860 shares of the company’s stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $38.00, for a total transaction of $1,134,680.00. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, COO Paul D. Burgess sold 71,833 shares of the company’s stock in a transaction that occurred on Tuesday, September 14th. The shares were sold at an average price of $38.00, for a total transaction of $2,729,654.00. The disclosure for this sale can be found here. Over the last quarter, insiders sold 604,924 shares of company stock worth $22,987,112. Corporate insiders own 9.40% of the company’s stock.

Large investors have recently made changes to their positions in the stock. Rock Springs Capital Management LP grew its position in Translate Bio by 1.0% in the first 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 grew its position in Translate Bio by 55.8% in the first 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 purchased a new position in Translate Bio in the first quarter worth $18,964,000. Nkcfo LLC purchased a new stake in Translate Bio during the second quarter valued at about $179,000. Finally, Panagora Asset Management Inc. purchased a new stake in Translate Bio during the first quarter valued at about $598,000. Institutional investors own 88.84% of the company’s stock.

Translate Bio Company Profile

Precipio, Incis a cancer diagnostics and reagent technology company, which provides diagnostic products and services to the oncology market. Its products include ICP, HemeScreen, and IV-Cell, and services include primary diagnostic, SmartPath, SmartGen, HemeScreen Panel, and ICE COLD-PCR. The company was founded on March 6, 1997 and is headquartered in New Haven, CT.

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